MIAMI—As the resurgence at the historic Miami River gains momentum, a building the Related Group developed in 2008 is seeing renewed interest. Terrazas Miami, a two-tower luxury residential community with 324 units directly on the river has sold 30 units in 30 days.

A gated community, Terrazas Miami is located at 1861 Northwest South River Drive. That's right next to E.G. Sewell Park. South Beach condos are about 15 minutes away, but come at a much higher price than new properties coming online in the Miami River neighborhood. Terrazas prices start in the mid-$200,000s and most units are priced under $400,000.

“Many projects in South Florida right now are in the pre-construction phase, but at Terrazas, buyers can close immediately and either begin living at the property or using it for rental income,” Terrazas sales director Michael Sadov tells GlobeSt.com. “In the past month, we've had some clients go from contract to closing in just six days.”