Harvey Hernandez’s Newgard Plans Condo Tower in Brickell

Developer Harvey Hernandez filed plans for a 59-story condo building on the Miami River, marking the final phase of his three-tower project in Brickell. 

Newgard Development Group, led by Hernandez, proposes a 169-unit tower with 1,100 square feet of commercial space as part of the One Brickell Riverfront development at 99 Southwest Seventh Street in Miami, according to an application filed to the city late last month. The unit count could vary, as Hernandez’s spokesperson said plans are for roughly 160 condos. 

The Miami River Commission is expected to vote on the proposal for the third tower at its meeting on Monday. The Miami Urban Development Review Board would then vote on the project at a yet-unscheduled meeting. Both boards act as advisers, meaning their votes are recommendations to approve, deny or approve with suggested tweaks. Generally, city administrators have final say. 

Newgard, through an affiliate, bought the 1.6-acre development site in 2021 for $50.5 million. The property is close to the Brickell City Centre mixed-use complex. Last year, Newgard paid $7 million for three lots at 66 Southwest Sixth Street, 625 Southwest First Avenue and 69 Southwest Seventh Street to add to the assemblage, with plans to use the 0.6-acre site as the gateway to One Brickell Riverfront. 

The first two towers under construction are the 44-story Lofty Brickell condo building and a 43-story residential tower. Together, they will have more than 700 units, combined. The buildings share a podium. 

Lofty Brickell is over 92 percent presold, according to Newgard’s spokesperson. The representative didn’t have details on if the 43-story tower’s units will be condos or apartments. 

Last summer, Newgard scored a $170 million construction loan for Lofty Brickell. 

Hernandez is a longtime South Florida developer and investor focused on condominiums. His completed condo projects include the 140-unit Solaris building in Brickell, 303-unit City Palms in West Palm Beach, 176-unit Gallery Art in Edgewater and the 350-unit Centro in downtown Miami, according to Newgard’s website. 

Last summer, an affiliate of Hernandez entered into an agreement to sell nine Centro units, which the entity had put into a bankruptcy proceeding, for a combined $3.2 million, with plans to pay off creditors.

The Miami River District and Brickell remain prime targets for developers. Urban-X Group’s River Landing Shops & Residences mixed-use complex, completed in 2020, is among the major projects along the river. The firm wants to expand the development with a proposed 28-story, 475-unit apartment building called MidRiverVu at 1411 Northwest North River Drive. 

Last year, pioneer Miami River District developer Lissette Calderon paid $32.2 million for a development site at 2301 Northwest 33rd Avenue near the river. 

In Brickell, Aria Development Group, Place Projects and Largo plan a five-story, 105-unit condo building with additional townhomes at 2222, 2250, 2204, 2248 and 2252 Brickell Avenue.