Prosper Group has announced a partnership with Belgium-based Versluys Group to develop a $650 million luxury condominium tower along the Miami River in Brickell. The joint venture, which includes CEO Bart Versluys and COO Peter De Decker from Versluys Group, and Jay Roberts from Prosper Group, will develop a waterfront property at 99 Southwest Seventh Street, 66 Southwest Sixth Street, and 625 Southwest First Avenue in Miami.
The project is planned as a 60-story branded high-rise with 158 units and over 300 feet of river frontage. According to the developers, construction is expected to last about 30 months with completion targeted for 2028. This development marks Versluys’ first entry into the U.S. market.
The joint venture is set to acquire the site next spring for an undisclosed price, with sales launching in the third quarter of next year. Roberts noted that he was introduced to Versluys through a mutual contact.
“I’ve seen a lot of appetite from European investors, and capital looking for opportunities outside of Europe and into South Florida,” said Roberts. “Regulations in Europe are hurting development and growth.”
De Decker commented on their interest in Miami’s real estate market: “We’re in the high-end residential market in Belgium, Holland. We have a lot of deals in the top 1 percent of the market,” he said. “If we want to expand, we must look at other markets. We were looking at London, Singapore, Dubai.”
Earlier this year, Newgard Development Group and Two Roads Development agreed to sell part of their assemblage site—where they are currently developing Lofty Brickell and Standard Residences—to Prosper Group.
Joint ventures have become more common among developers working on new high-rise projects due to rising costs.
The upcoming Prosper-Versluys building will include approximately 35,000 square feet designated for food and beverage retail space. The brand associated with this space has not yet been disclosed by the developers.
Prosper Group’s portfolio includes over 1,300 residential units either planned or under construction across Tampa and South Florida.
Additionally, earlier this year Prosper partnered with Forte Development to submit plans for an 80-story mixed-use condo tower at 1040 South Miami Avenue in Brickell. That application was filed under Miami-Dade County’s rapid transit zoning program—a policy that allows increased density near transit stations—and is located about one block from the Brickell Metromover station.
