# House of Wellness Drops Hotel Plan, Riverbridge Keeps Its Hyatt

Published: 2026-08-27 · Updated: 2026-10-22 · Author: Jeremías Kastensmidt

_House of Wellness Brickell switched from an 832-room hotel to 656 condos in February 2026, while Miami Riverbridge keeps a 615-room Hyatt Regency and adds 1,342 apartments._

Two large hotel projects planned near the Miami River, one in Brickell and one in Downtown, have gone in opposite directions. House of Wellness at 152 SW 9th Street, first filed in 2024 as a 43-story, 832-room hotel, was relaunched in February 2026 as a 34-story tower of 656 condos. Miami Riverbridge, the redevelopment of the Downtown Hyatt Regency site, keeps a 615-room hotel at the center of a three-tower plan. For condo buyers, the first adds direct competition and the second adds rental supply next door.

## House of Wellness: from hotel rooms to small condos

In 2024 Ricardo Dunin moved to buy the site and filed plans with Miami-Dade County for a 43-story hotel with 832 lodging units, as Commercial Observer and Miami Today reported. In February 2026 North Development, where Dunin is a founding partner, announced the project as House of Wellness Brickell, a 34-story condominium of 656 studios, one-bedroom and two-bedroom units with more than 22,000 square feet of wellness and fitness amenities, according to Florida YIMBY and BRG International. Starting prices were announced at about $390,000.

That price point matters because it lands in the busiest part of the Brickell resale market. Of Brickell's MLS condo closings in the last 12 months, 191 sold under $450,000, at a median of $500 per square foot and 750 square feet. Another 180 units under $450,000 are listed for sale today. A buyer weighing a new small unit at {{building:house-of-wellness-brickell}}, years from delivery, can compare it against that resale stock now.

## Miami Riverbridge: a hotel plus 1,342 apartments

Miami Riverbridge, led by Hyatt and Gencom on city-owned land at the mouth of the Miami River, won a unanimous lease approval from the Miami City Commission after a November 2022 referendum, and unanimous design approval from the city's Urban Development Review Board in June 2024. The plan calls for three towers: the tallest at 87 stories, and a 62-story tower of about 730 feet holding a 615-room Hyatt Regency and 264 serviced apartments, alongside 1,342 multifamily units and about 100,000 square feet of commercial space, as reported by Florida YIMBY and Hotel Dive.

Serviced apartments and hotel rooms compete with condo owners who rent short-term, where building rules allow it, and 1,342 rental units add to the long-term rental pool in {{neighborhood:downtown}}.

## The market these projects land in

Both neighborhoods already have far more than nine months of supply. As of October 13, 2026, Own.Miami's market reports show:

| | For sale | Closings, 12 months | Months of supply | Median $/sq ft sold |
|---|---|---|---|---|
| Brickell | 1,133 | 747 | 18.2 | $608 |
| Downtown | 923 | 368 | 30.1 | $587 |

Own.Miami treats anything above nine months of supply as a buyer's market, so new condo and rental supply in either area adds to a market where buyers already have leverage.

{{chart:neighborhood_ppsf brickell}}


## Frequently asked questions

**Is House of Wellness Brickell a hotel or condos?**

Condos. The site was filed in 2024 for a 43-story, 832-room hotel, but North Development relaunched it in February 2026 as a 34-story tower of 656 condos starting at about $390,000.

**How many hotel rooms will Miami Riverbridge have?**

The plan includes a 615-room Hyatt Regency and 264 serviced apartments in a 62-story tower, alongside 1,342 multifamily units.

## Sources

- 20 hotels in construction in Miami-Dade, 78 more wait in wings: https://www.miamitodaynews.com/?post_type=breaking&p=85790

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Source: Own.Miami — https://own.miami · data as of 2026-10-22
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