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Florida & Gulf Coast  + South Florida  + Apartments  |  April 10, 2025
Terra, Fortune teaming up on resort-to-condo project
Mike Boyd
By: Mike Boyd

Developer Duo Turning Key Biscayne Resort into Condos

Terra and Fortune International Group formed a partnership to acquire the former Silver Sands Beach Resort property in Key Biscayne, Florida, for $205 million. Situated at 301 Ocean Drive, the oceanfront property plans include the development of a 56-residence boutique-branded condominium. Construction is estimated to begin in late 2026. 

The development will offer a range of amenities, including a fine-dining restaurant, two pools, social areas, and a fitness center and spa.

Terra is currently developing Villa Miami in Edgewater, Jean-Georges Miami Tropic Residences in Midtown Miami/Design District, The WELL Coconut Grove and The WELL Bay Harbor Islands, and Mr. C Hotel & Residences West Palm Beach. 

Fortuna is currently developing The Ritz-Carlton Residences Pompano Beach, St. Regis Residences in Sunny Isles Beach, Faena Residences Miami, ORA by Casa Tua in Brickell, and Nexo Residences in North Miami.

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About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.
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