What will Miami Riverbridge cost taxpayers?

Miami Riverbridge will be entirely privately funded by Hyatt and Gencom, with zero public subsidy. Our team plans to invest more than $1.5 billion in the development, creating significant infrastructure improvements for the community and generating substantial revenue for the City without putting a strain on taxpayers.

How will Miami Riverbridge impact traffic?

Miami Riverbridge sits at a critical location where many people traveling by car first enter the city’s urban core. Arquitectonica and our traffic engineers have designed a plan that takes these cars off surrounding streets and circulates them within the footprint of the development through a series of drop-off and pick-up points. This will reduce lengthy traffic backups on major city streets, and it will create an improved experience for pedestrians. At the same time, we are committed to encouraging other forms of mobility, with emphasis on dedicated bike parking, connectivity to two Metromover stations, and the Poseidon Ferry.

Why are Gencom and Hyatt building on publicly-owned land?

More than 40 years ago, the City of Miami identified this site as an ideal setting for a hotel and meeting space, and the Hyatt Regency has been a catalyst for dramatic growth in Downtown dating back to the early 1980s. Looking ahead, Hyatt and Gencom believe this property can generate even more economic and community benefits through the addition of new uses and improved public spaces. Hyatt and Gencom currently hold a long-term lease on the property and rather than maintaining the status quo, the team has created the vision for Miami Riverbridge.

Why do apartment units make sense for this site?

More than 260,000 people relocated to Florida in 2021, and many of them gravitated toward Miami and South Florida. Demand for downtown living in Miami is among the strongest in the nation. A recent report by the Miami Downtown Development Authority found that on average, Downtown Miami’s apartment towers are 95 percent leased even as thousands of new units come online. The residences at Miami Riverbridge will help meet this demand by offering people easy access to the Central Business District, Brickell, and the Miami Riverfront—along with breathtaking views of the city.

Does Tower Three need to be so tall?

Miami Riverbridge has been designed ‘as of right,’ meaning the project as proposed is allowed under the current City of Miami zoning code. All three towers could have risen to the maximum height of 1,049 feet, which is allowed in this location, but we felt that three towers of varying heights were a better solution. By building vertically, we are able to create more public space at ground level for the surrounding community to enjoy, while affording residents of the apartments panoramic views of the city.

How long will construction take?

Once we break ground on Miami RiverBridge, we expect construction to last about four years.

Will Miami Riverbridge include a performance hall similar to what’s there now?

When the Hyatt Regency was built in the early 1980s, Miami lacked state-of-the-art performance venues. Today, the city is home to many performance spaces, concert halls, stadiums, and outdoor amphitheaters that meet this need. Plans for Miami Riverbridge include over 200,000 gross square feet of Class A indoor and outdoor meeting space that will position Miami to attract world-class events.

How does this plan benefit City of Miami residents?

Miami Riverbridge will be entirely privately financed, resulting in significant benefits for the community, including:

  • Activation of the Miami Riverwalk, which has been a top priority of the City. Miami Riverbridge will complete a key, 480-foot stretch of the project at no cost to taxpayers. Once completed, Miami Riverbridge will create 50,000 square feet of new public space.
  • Improving access in and out of Miami’s urban core will have a positive impact on drivers and pedestrians, while easing congestion on surrounding streets.
  • The addition of multifamily residences and a world-class hotel will generate additional revenue for the City of Miami in the form of new tax dollars and increased rental payments that can be invested in infrastructure, resiliency measures, and quality of life improvements—without putting added burden on taxpayers.
  • By developing Class A meeting space, Downtown Miami will become more appealing in the eyes of companies and organizations planning major conferences and events.