The TREO Group — a privately held real estate investment firm headquartered in Miami — has announced that it has closed on a loan for $33 million provided by FirstBank of Florida for the construction of Regatta Harbour, a mixed-use waterfront development situated on more than 9.5 acres in Coconut Grove’s historic Dinner Key.
Accessible by land and sea, the project will become the refreshed and dynamic community centerpiece that the area has long awaited. A curated fusion of chef-driven restaurants, specialty stores, marina services, floating docks, on-site parking and event spaces will be complemented by lush foliage and strolling sidewalks to create a new sense of place overlooking scenic Biscayne Bay. Construction on Regatta Harbour has already commenced.
“Securing this significant loan from FirstBank of Florida is yet another milestone for this momentous project that will breathe new life into the vibrant waterfront destination and create an around the clock upscale locale for community members and visitors to dine, shop and relax,” said Otto Boudet-Murias, principal of The TREO Group. “We are thrilled to be at the forefront of Coconut Grove’s transformation and look forward to shaping the future of the area with this lively epicenter while maintaining the rich culture and history of Dinner Key.”
Upon completion, the project will include over 100,000 square feet of retail, services and restaurant space. Regatta Harbour will offer flexible locations to accommodate a variety of experiential locales. Three waterfront restaurants, including several recognized chef-driven concepts, will be designed to capture the nautical and aeronautical spirit of old Coconut Grove.
Historic airplane hangars, used in the early 1900s as the first continental Naval air station and later as Pan Am Airways’ base of seaplane operations, will be preserved and renovated as an homage to the area’s culture and history, creating approximately 40,000 square feet of unique setting for a gourmet food hall, specialty market, fitness or entertainment concept.
Adding to the project’s many offerings is the rooftop event space with sweeping views of the city and bay. Aptly named Harbour Terrace, the area will unify and connect the second-floor portion of the restaurants, boasting 6,000 square feet of air-conditioned interiors and 7,500 square feet of outdoor space — each able to accommodate up to 300 people.
“FirstBank continues to execute its growth plan by assisting local business owners with financing for their business expansion,” said Calixto Garcia-Velez, executive vice president and region executive with FirstBank. “We are proud to partner with TREO
Group in the ongoing transformation of the Coconut Grove waterfront, which will enhance the quality of life in our community.”
Situated in a city world-renowned for its regattas and boating, Regatta Harbour will include marina services with dry storage slips for more than 400 vessels, an upgraded and relocated fueling station, and 700 feet of transient floating docks. The newly constructed docks and finger piers will encourage more boaters to visit and seamlessly explore and enjoy nearby Regatta Park, the bay and green spaces.
Additionally, in partnership with the City of Miami and Miami Parking Authority, Regatta Harbour will provide an on-site parking garage that will be easily accessed from Bayshore Drive with up to 253 spaces. Steps away, patrons also will have more than 300 surface parking spaces. Promoting seamless connectivity, the property will be served by the Coconut Grove trolley system, directly connecting visitors to the Metrorail, Brickell’s financial district, and downtown Miami.
Regatta Harbour, designed by world-renowned Arquitectonica, will be delivered in multiple phases starting with the new dry-storage marina being completed in November, the retail area in the summer of 2019 and the waterfront restaurants in 2020. Leasing of the commercial space is being overseen by Lyle Stern and Sara Wolfe of Koniver Stern Group.
For more information visit www.regattaharbour.com.
