Balfour Beatty PLC won a $260 million contract to build the River Landing Shops and Residences in Miami.
Construction of the riverfront development spanning about two million square feet is set to start by year-end and to be completed in the fourth quarter of 2019.
The address of the 8.14-acre development site along the Miami River is 1400 Northwest North River Drive.
The design of the River Landing development includes a riverfront park, 475 apartments and 426,000 square feet of space for retail stores and restaurants.
Balfour Beatty will build River Landing for H&R REIT, Urbanx Co. and real estate developer Matthews Southwest.
Pre-construction of River Landing, including foundation work, started earlier this year.
In 2014, River Landing Development, led by Andrew Hellinger, acquired the development site for $26 million and obtained a $38.2 million mortgage on the property from a company connected to new York-based Northstar Realty Finance. [MarketWatch] — Mike Seemuth