Mast Capital, AEW Top Off Miami River Walk

MIAMI—Mast Capital, in a joint venture with AEW Capital Management, L.P., has topped off construction on its Miami River Walk project located on 6.3-acres on the south bank of the Miami River. Once complete, the development will be Mast Capital’s largest ground-up project to-date.

Mast Capital CEO Camilo Miguel Jr. tells GlobeSt.com that the project will collectively feature approximately 20,000 square feet of amenity space, including a swimming pool, state-of-the-art fitness center, game room, and package locker rooms.

Miguel says the site’s large footprint and location provides the opportunity to offer unique amenities, including a private park for exclusive use by residents and a complimentary water shuttle to nearby restaurants and attractions that leverage the property’s distinct feature: its location within the burgeoning Miami River district, with over 1,000 linear feet of direct water frontage.

Mast broke ground on Miami River Walk in January and will be developing the project in two phases: Phase 1 will consist of 346 rental units and is expected to be delivered in the fourth quarter of 2020. Plans for Phase 2 currently contemplate an additional 342 multifamily units.

“We think about sustainability holistically and this project incorporates sustainable elements on multiple levels,” Miguel says. “Most explicitly, the project is rated Silver by the National Green Building Standard (NGBS), incorporating specs such as energy star-rated appliances, water-sense plumbing fixtures, and low-e glass, which reduces cooling requirements and energy consumption.”

Miguel says the project also achieves ‘green’ objectives in other ways by maintaining open green space with a private 1-acre park for residents, and by reducing the need for automotive transportation. The project is positioned to cater to the tens of thousands of workers in the nearby Health District, which is highly accessible without a car, whether by walking, public trolley, or partaking in the new scooter rental phenomenon that’s quickly taking over Miami. Easy access to public transit will be complemented by our free water shuttle service that will operate at certain times for residents to access nearby attractions on the river.

The site, located about one and a half miles from Downtown, two miles from Brickell and a half mile from the Miami Health District, will provide accessible housing options to the workforce of over 200,000 people in Miami’s two largest employment centers. Positioned in an urban transit zone, tenants and visitors will also be close to several public transportation systems.