Construction begins on 434-unit condominium project on the Miami River

Construction has started at Faena Residences Miami, according to Florida Construction News. Plans call for 434 condominiums in two 68-story towers. The developers announced the start after closing an $817 million construction loan. The site is at 24 SW Fourth Street in the City of Miami.

Published November 5, 2026 · Sion editorial

Construction has begun on Faena Residences Miami, a two-tower condominium project on the Miami River, Florida Construction News reported on November 4. Developers Fortune International Group and KAR Properties announced the start after closing $817 million in construction financing arranged through Tyko Capital. Coastal Construction is the general contractor.

Plans call for 434 condominiums across two 68-story towers, approximately 802 feet tall, at 24 SW Fourth Street. The site is in the City of Miami, in Miami-Dade County. The loan is construction financing; it is not a measure of how many units have sold. The milestone is the start of work, with the units still to be delivered.