ROVR Raises $66M for 2-Phase Miami Apartment Complex

ROVR Development has raised $66 million to build a rental complex along the Miami River. ROVR plans to build the project in two phases: the first phase will house 300 units, and the second, 293. Called River Rapids, the project will be located at 2750 NW South River Drive. The first phase will consist of two eight-story buildings, followed by an adjacent project that will rise 12 stories. The financing was secured by Kayne Anderson.

Each of the two buildings will have an amenity deck with a resort-style swimming pool and cabanas, an outdoor kitchen and bar, a fitness center, a club lounge, a market, a business center, conference rooms, and on-site parking.

The S. Florida Business Journal reports the complex will be built on a former four-acre trailer park that ROVR Development acquired for $15 million in 2020.

The designers on the project are Coral Gables-based Anillo Toledo Lopez Architecture and Miami-based Michael Wolk Design.

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