T
he American Dream Miami project, a massive mixed-use development proposed by Triple Five Group, has been stalled for over nine years despite securing rezoning approval in 2018. The project would span 175 acres and feature a theme park, hotel rooms, retail space, and more. However, the developer is still seeking to lift a ban on subsidies from Miami-Dade County, which was imposed due to opposition from rival malls.
Another stalled project is the Miami Produce Center, a 1.4 million-square-foot development proposed by Robert Wennett in 2018. The project would feature residential units, hotel rooms, offices, and commercial space, but construction has yet to begin despite receiving final approval from Miami commissioners in 2019.
The Sabal Palm Village project, proposed by SPV Realty in 2016, is also stuck in limbo. The development would consist of 3,000 apartments, 400 hotel rooms, and various commercial spaces, but the project has been pending before the city commission for three years due to opposition from local residents.
In Broward County, the Metropica project, a 65-acre master-planned community proposed by Joseph Kavana, has made some progress. The developer secured approvals in 2014, but only one tower has been completed so far. However, Kavana is optimistic that construction will start soon after securing a density boost from the city of Sunrise.
The Magic City Innovation District, a 8.5 million-square-foot development proposed by Plaza Equity Partners, has also faced delays. The project would feature residential and office buildings, as well as retail space and a promenade. While construction on the first tower is expected to start early next year, the developers are still working on infrastructure improvements and have put some plans on hold due to remote work trends.
Moishe Mana's Wynwood project, which includes the 9.7 million-square-foot development of the former industrial area into a business center, has also faced delays. The first phase will consist of several office buildings, including the 12-story Wynwood Incubator and the eight-story Bridge Building. Construction is expected to start in early 2026.
In downtown Miami, Mana's project includes the preservation of the area's eclectic architecture, with renovations planned for several historic buildings. The developer also plans to build a 60-story tower and an 80-story tower, as well as a private park and wellness facilities.
The Miami Beach Convention Center hotel, which was approved by voters in 2018, has secured $92.5 million in public funding to close the construction cost gap. Construction is expected to start soon, with the hotel opening in 2027.
Faena Residences, a condominium project at One River Point, was revived after Edgardo Defortuna's Fortune International Group bought into the project. The development will feature 440 units, a private park, and wellness facilities.
The Chetrit Group's River District project, which includes a 54-story rental tower, has also made progress. Construction began in 2023, and apartment leasing is expected to start soon.
Finally, the redevelopment of Bahia Mar in Fort Lauderdale got a new lifeline when Related Group entered the picture in 2023. The $1 billion-plus project would include two condo towers, a hotel, and commercial space, with prices starting at $4.4 million for traditional condos and $2 million for condo-hotel units.
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South Florida's stalled megaprojects: A tale of grand ambitions and slow progress
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Morgan Williams Joins Landings Real Estate Group Team
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