Prosper Group announced a joint venture with Versluys Group to deliver a $650 million ultra-luxury waterfront residential tower on the Miami River in Brickell.

The development spans three parcels — 99 SW 7th Street, 66 SW 6th Street, and 625 SW 1st Avenue — which Prosper Group acquired earlier this year. The 60-story tower will feature 158 residences, approximately 35,000 square feet of food and beverage retail space and boast over 300 feet of direct river frontage, with delivery anticipated for 2028. It will be designed by Brandon Haw Architecture with ODP Architecture & Design.

In addition to this acquisition, Prosper Group is under contract to purchase a 0.6-acre site at 1040 South Miami Avenue in Miami’s Brickell neighborhood for $40 million. The firm plans to develop a condo-hotel with up to 300 residential units, focusing on wellness and luxury living.