Terra and Fortune International Group, two of South Florida’s most active luxury residential development firms, have formed a partnership to acquire the former Silver Sands Beach Resort property in Key Biscayne, Florida for $205 million. Situated at 301 Ocean Drive, plans for the oceanfront property include the development of a 56-residence ultra-luxury boutique branded condominium, which is set to become the most climate-resilient property in Key Biscayne. Beloved for its safe, walkable streets and intellectually rich, culturally vibrant atmosphere, the Village of Key Biscayne offers a rare sense of community that distinguishes it from the rest of Miami. Construction is estimated to begin in late 2026.
Nestled between Biscayne Bay and the Atlantic Ocean, Key Biscayne has long stood apart as one of South Florida’s most coveted island communities. Once a coconut plantation and later the site of Miami’s first resort hotel, the island evolved into a tranquil residential enclave known for its lush landscapes, rich history, and tight-knit community. With its mix of world-class beaches, protected natural areas, and family-friendly charm, Key Biscayne offers a uniquely balanced lifestyle – just minutes from the energy of Miami, yet worlds away in its peaceful, resort-like setting.
“Our vision for this special property is not only to create a space that complements the beauty and heritage of Key Biscayne, but to also make a lasting, positive impact on the community for generations to come,” said David Martin, CEO of Terra. “By incorporating sustainable design elements and investing in resiliency and infrastructure improvements in the Village, we are committed to enhancing the quality of life for residents and preserving the natural beauty of the island.”
“As a long-time resident of Key Biscayne, I have a deep appreciation for the island’s one-of-a-kind character and the high standards its residents expect and deserve,” said Edgardo Defortuna, CEO and Founder of Fortune International Group. “I know this community inside and out – its rhythms, its beauty, and its people – and I am passionate about ensuring that what we build reflects and respects that legacy. Our goal is to create a place that not only enhances the Village aesthetically but also adds meaningful value to the daily lives of those who call Key Biscayne home.”
Terra and Fortune plan to introduce a new luxury boutique condominium to the island featuring spacious residences with panoramic ocean views. The development will offer a range of amenities, including a fine dining restaurant, two resort-style pools, social areas, and a fitness center and spa.
Designed by Touzet Studio, alongside landscape architect Raymond Jungles, the development will incorporate a number of resiliency and sustainable elements including rain gardens, bioswales, drainage wells, and a cistern, all of which work together to maximize water retention and prevent runoff into neighboring properties.
Inspired by the iconic Stiltsville, a group of long-standing wood stilt houses built in the early 1930s situated on the edge of Biscayne Bay, and the rich architectural heritage of Key Biscayne, the development will feature a tropical modern design that appears to float above a lush landscape of native trees and climate-appropriate vegetation.
In addition to the environmental initiatives, the development team is investing in the community through improvements to local drainage infrastructure and contributions towards upgrades in traffic circulation. As part of the Village's Land Acquisition Trust, funds will also be allocated towards improvements in community parks. Furthermore, the development’s economic impact will be substantial, with the project expected to lead to a significant increase in property tax contributions, substantially benefiting the Village’s financial outlook.
Terra’s portfolio of newly completed condo developments across South Florida includes the recently delivered Five Park Miami Beach and Mr. C Residences Coconut Grove. The firm is currently developing Villa Miami in Edgewater, Jean-Georges Miami Tropic Residences in Midtown Miami/Design District, The WELL Coconut Grove and The WELL Bay Harbor Islands, and Mr. C Hotel & Residences West Palm Beach.
Fortune’s portfolio of recently completed condo development across South Florida includes The Ritz-Carlton Residences and Jade Signature in Sunny Isles Beach, and the Auberge Beach Residences & Spa in Fort Lauderdale. The firm is currently developing The Ritz-Carlton Residences Pompano Beach, St. Regis Residences in Sunny Isles Beach, Faena Residences Miami, ORA by Casa Tua in Brickell, and Nexo Residences in North Miami.