Blue Road and Ilia Development Group have begun sales for The William, a planned 26-story condominium tower in North Miami Beach. The project will be located at 2040 Northeast 163rd Street on a site currently occupied by a medical office building.
The development will consist of 374 condo units on a 1.1-acre property. Blue Road, based in Bay Harbor Islands and led by CEO Jorge Savloff, is partnering with Ilia Development Group, headed by investment banker Germán Osorio. The developers plan to use EB-5 investment funds to help finance the project. The minimum required investment from EB-5 investors is $1.05 million.
Fortune International Real Estate’s development sales division has been selected to manage sales and marketing for The William. Units are priced from $380,000 to over $1 million, with sizes ranging from studios at 552 square feet to three-bedroom condos at 1,412 square feet.
A spokesperson for the developers stated that short-term rentals will not be permitted in the building.
Amenities planned for residents include more than 40,000 square feet of features such as a pool deck, outdoor kitchens and lounge areas, spa rooms, co-working space, market and cafe, pickleball court, and pet spa.
Construction is scheduled to begin in mid-2026 and is expected to take approximately three years to complete.
Records show that an affiliate of the developers purchased the property for $7.5 million in 2022.
The William is named after William Fulford, a U.S. Coast Guard captain who acquired land over a century ago that later became part of North Miami Beach.
Architect Carlos Ott and Behar Font & Partners are responsible for designing the project’s exterior architecture while Urban Robot will handle interior design.
This marks at least the second partnership between Blue Road and Edgardo Defortuna’s Fortune International Group in North Miami Beach. They are also collaborating on Nexo Residences at 13899 Biscayne Boulevard—a separate 16-story condominium building allowing short-term rentals. That project recently secured a $73.3 million construction loan from Bank Hapoalim with support from EB-5 investors and is set for completion next year.
Another major development proposed for North Miami Beach is Uptown Harbour by Dezer Development on the current Intracoastal Mall site covering 29 acres.
