Miami’s Regatta Harbour: Old Meets New

(Left to right) Eduardo Garcia, Otto Boudet-Murias. Images courtesy of The TREO Group

Considered the oldest neighborhood in Miami, Coconut Grove has always been a tourist magnet. Defined by its deeply rooted history, popular shopping and entertainment venues and the lively feel of the area, Coconut Grove is in the midst of a comprehensive rejuvenation process.  

One of the projects that is dramatically transforming the historic Dinner Key shoreline in Coconut Grove is Regatta Harbour, a retail and industrial waterfront redevelopment overlooking Biscayne Bay. High-end condos, hotels, upscale offices, luxury homes and top-rated schools are all nearby, with Coral Gables, Brickell and Downtown Miami only a few minutes away.

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The TREO Group is in charge of the 100,000-square-foot conversion that is set to include retail space, restaurants and various services. The first phase of the mixed-use project has already opened. Regatta Harbour Marina replaced the former Grove Key Marina site, following a $5.5 million investment. Known for its active boating community, the marina now includes new dry storage racks, with space for more than 400 vessels.

In a Commercial Property Executive interview, The TREO Group Principals Otto Boudet-Murias and Eduardo Garcia revealed what’s next for Dinner Key and provided details about the facelift Coconut Grove is currently undergoing.

Please tell us more about the historic Dinner Key shoreline and how it has transformed.

Boudet-Murias: Accessible by land and sea, Regatta Harbour will become the refreshed and dynamic community centerpiece that the historic Dinner Key shoreline has long awaited. The project will serve as a key component to Coconut Grove’s transformation and will shape the future of the area with the addition of this lively epicenter while maintaining the rich culture and history of Dinner Key.

Historic airplane hangars, used in the early 1900’s as the first continental Naval air station and later as Pan Am Airways’ base of seaplane operations will be preserved and renovated as an homage to the area’s culture and history. This will create approximately 40,000 square feet of space, which will uniquely be used for a gourmet food hall, specialty market and boat storage. The project will also introduce more than 13,000 square feet of indoor and outdoor event space and on-site parking, including 253 garage spaces and 300-car surface parking.

Rendering of Regatta Harbour. Image courtesy of The TREO Group

Who are your partners in the Regatta Harbour project and how are you financing the development?

Boudet-Murias: The developer of Regatta Harbour is The TREO Group and they are working with Grove Bay Hospitality Group on the restaurants that will be included in the project. For the financing of the development, The TREO Group closed on a loan for $33 million provided by FirstBank Florida for the construction of Regatta Harbour, which is a mixed-use waterfront development situated on more than 9.5 acres.

What type of businesses will Regatta Harbour accommodate? Who has already joined the project?

Boudet-Murias: Regatta Harbour will accommodate a curated fusion of chef-driven restaurants, specialty stores, marina services, floating docks, on-site parking and event spaces. These will be complemented by lush foliage and strolling sidewalks to create a new sense of place overlooking scenic Biscayne Bay.

Celebrity Chef Jeremy Ford has joined the project with his new restaurant concept, Afishonado. The TREO Group partnered with Grove Bay Hospitality Group to bring the Bravo TV “Top Chef” winner to the destination, in a significant next step to revolutionize the area’s waterfront with culinary experiences and more. Additionally, a food hall/marketplace will be coming to the hangar and be announced soon.

Please provide some details about the project’s construction phases.

Boudet-Murias: Designed by world-renowned Arquitectonica, Regatta Harbour will be delivered in multiple phases. At the end of February, the multi-phase development unveiled the new Regatta Harbour Marina, following a $5.5 million overhaul of the former Grove Key Marina site. The project’s parking structure and associated retail component are currently under construction to be completed this year. Construction is ongoing at the historic hangar, to be followed by construction of waterfront restaurants, to be completed in 2020.

What other changes are there planned for the waterfront area and how do you expect these to appeal to visitors?

Garcia: The waterfront area has many exciting changes underway that will appeal to a wide range of visitors. Regatta Park, often the site of small festivals and public gatherings, is adjacent to Regatta Harbour and was recently completed. The continuous bay walk is currently being constructed as part of Regatta Harbour and will tie in with the existing bay walks to the north and south of the project.

Additionally, several new restaurant spaces have joined the area such as Glass & Vine in Peacock Park, which links the block together, the redevelopment of Prime Marina Miami, where Monty’s Raw Bar & Restaurant is located, and the recently finished Dock Master building at Regatta Park.

Rendering of Regatta Harbour. Image courtesy of The TREO Group

How do you expect this waterfront revitalization to impact the neighborhood?

Garcia: This momentous project promises to breathe new life into historic Dinner Key and create a vibrant waterfront destination that will offer an around the clock, upscale locale for community members and visitors to dine, shop and relax. Creating a critical community link, Regatta Harbour is an integral component to Coconut Grove’s revitalization currently underway, situated with access to the waterfront in a unique park-like setting.

What sets Coconut Grove apart from other popular parts of metro Miami?

Garcia: Coconut Grove is considered one of Miami’s most historic and coveted neighborhoods. Through the preservation of the historical components of the area, patrons are intrigued by the fusion of old and new throughout the community and are drawn to the area known for its lush foliage and tropical environment. Coconut Grove is uniquely set apart from other areas in Miami with the intertwining of the waterfront, greenery and quaint cafes and eateries that are immersed with new residences, offices and retail offerings in a low-to-midrise setting. It offers a village-like setting with a waterfront backdrop and is unlike any other place in Miami.