Construction on Mixed-Use River Landing Shops and Residences To Begin By End-Of-Year

Construction on River Landing Shops and Residences is set to begin by the end of the year (2017) in Miami's Health District. Foundation work began earlier this year at the 8.14-acre site on the Miami River located at 1400 NW River Drive. River Landing Shops and Residences will include 475 apartment units and 426,000 SF of retail and restaurant space. Balfour Beaty PLC won a $260 million contract to build the project which is being developed by H&R REIT, Urbanx Co. and Matthews Southwest; who reached a settlement with Andrew Hellinger's River Landing Development which originally purchased the land in 2014 for $26 million before taking a $38.2 million mortgage on the property from an affiliate of New York-based Northstar Realty Finance, Eastwatch Holdings T LLC. Eastwatch Holdings T LLC. filed a $38.19 million foreclosure lawsuit against River Landing Development to which the mortgage was sold to River Landing Acquisitions, an affiliate of Canada-based retail developer H&R REIT. Major tenants will include a Publix, TJ Maxx, West Marine, At&T, Burlington Coat Factory, and an AMC Theater, amongst others. Completion is expected in Fall of 2019.