Miami Waterfront Development Underway
The tower received $273 million in construction financing, provided by J.P. Morgan and BDT & MSD Partners.
An aerial rendering of the Shell Bay marina. Rendering by MARCH courtesy of Witkoff Group, PPG Development 
A rendering of a balcony of a luxury residence in the Shell Bay project. Rendering courtesy of Witkoff Group, PPG Development 
A rendering of primary bathroom in the luxury residences in the Shell Bay project. Rendering courtesy of Witkoff Group, PPG Development 
A rendering of a great room in the luxury residences in the Shell Bay project. Rendering courtesy of Witkoff Group, PPG Development
Witkoff Group and PPG Development have closed on $273 million in construction financing for Shell Bay, a private 150-acre, Mediterranean-inspired Miami enclave featuring Auberge-branded residences, a hotel and the region’s first private golf club in decades.
The Residences at Shell Bay, located in Hallandale Beach, Fla., will include 108 luxury homes in a 20-story tower. Units are set to offer panoramic views of the golf course, fairways and Intracoastal Waterway. Kitchens feature Gaggenau appliances and include finishes like white oak cabinetry, honed marble countertops and burnished brass hardware.
Located at 501 Diplomat Parkway, Pearl and Michael Herman’s Premium Capital purchased the property in 2018. The company partnered with developers Steven and Alex Witkoff to build Shell Bay Club, the Auberge Hotel and branded residences.
J.P. Morgan and BDT & MSD Partners provided the financing for the 20-story condo tower serviced by Auberge. Faisal Ashraf of Lotus Capital Partners represented the sponsors on the transaction.
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Shell Bay represents a last-of-its-kind opportunity for new waterfront developments of this scale in South Florida. The site is one of the last remaining parcels of land in the area with large acreage availability.
Kobi Karp is the project’s architect while AvroKO is doing the interiors for the residences at Shell Bay. Construction of the residence tower, already half sold, is expected to begin this year. Opening is anticipated for 2027.
Shell Bay is in the heart of South Florida, easily accessible to Miami’s cultural, shopping, dining and entertainment options. It is also nearby international and private airports.
Witkoff Group is also in the process of developing the Shore Club Private Collection in Miami Beach, on track to become one of the fastest-selling projects in Miami Beach’s history.
Earlier this year, BH Group and Related Group launched sales at Icon Beach Waterfront Residences, a 350-unit luxury condominium project in Hollywood, Fla. The property will feature 30,000 square feet of amenities such as a beach club, spa, wellness center, health club an access to the on-site marina. Additionally, amenities are set to include a pool deck with outdoor cinema and summer kitchens, a waterfront event space and a curated art collection.
