Prosper Group has announced a partnership with Belgian developer Versluys Group to build a $650 million luxury condominium tower along the Miami River in Brickell. The project, which will be located at 99 Southwest Seventh Street, 66 Southwest Sixth Street, and 625 Southwest First Avenue in Miami, is planned as a 60-story high-rise with 158 branded units and over 300 feet of river frontage.
Versluys Group’s CEO Bart Versluys and COO Peter De Decker are joining Prosper Group, led by Jay Roberts, in this joint venture. According to De Decker, this marks Versluys’ first development in the United States. Construction is expected to take about 30 months, with completion anticipated in 2028.
The joint venture is currently under contract to acquire the site next spring for an undisclosed amount. Sales for the units are scheduled to begin in the third quarter. Roberts noted that he was introduced to Versluys through a mutual connection.
“I’ve seen a lot of appetite from European investors, and capital looking for opportunities outside of Europe and into South Florida,” Roberts said. “Regulations in Europe are hurting development and growth.”
De Decker commented on the company’s expansion strategy: “We’re in the high-end residential market in Belgium, Holland. We have a lot of deals in the top 1 percent of the market,” he said. “If we want to expand, we must look at other markets. We were looking at London, Singapore, Dubai.”
Earlier this year, Newgard Development Group and Two Roads Development signed an agreement to sell part of the site to Prosper as part of their three-tower assemblage where Lofty Brickell and Standard Residences are being developed.
The Prosper-Versluys tower will include approximately 35,000 square feet dedicated to food and beverage retail space. The developers have not yet disclosed which brand will occupy that space but plan an announcement later.
Prosper’s current portfolio features more than 1,300 residential units either planned or under construction across Tampa and South Florida.
In addition to this project, Prosper and Forte Development submitted plans earlier this year for an 80-story mixed-use condo tower at 1040 South Miami Avenue—also in Brickell—using Miami-Dade County’s rapid transit zoning rules that allow greater density near transit stations. This site is located about one block from the Brickell Metromover station.
