ROVR Development, a leading real estate development firm led by Oscar Rodriguez and Ricardo Vadia, has received approval to develop 1,000 multi-family units located along Delaware Parkway in the River Rapids neighborhood. The firm has also commenced construction on Tides at River Rapids, a rental community delivering 300 units. The combined properties will deliver 1,593 units across 10.2 acres with a projected value of over $750 million upon completion.
“We’re very pleased to present our newest development plan which further expands the ROVR presence in the River Rapids area,” said Oscar Rodriguez, Principal of ROVR Development. “We’ve established a proven formula: strong relationships with key stakeholders and extensive industry expertise. This enables us to consistently design and execute economically viable multifamily projects.”
Located at 1701-1851 Delaware Parkway, the development spans 994,430 square feet across 6.2 acres. It includes 1,000 apartments across three buildings and 1,318 parking spaces. The plans feature a 15-story building with 340 apartments, two 12-story buildings with 330 apartments each, and a seven-story parking garage. Each of the three buildings will have dedicated amenities including a pool, club room, fitness center and business center on the ground floor. Construction is expected to begin in the third quarter of 2025.
Simultaneously, the team has also begun construction on the nearby Tides at River Rapids development located at 2750 N.W. South River Drive. In May 2024, ROVR secured $66 million in financing for the project’s first phase. Once complete, ROVR will deliver 593 units across two buildings of eight and 12 stories. Named Tides and Moorings, each building features its very own amenity deck boasting a resort-style swimming pool with cabanas, an outdoor kitchen and bar, a state-of-the-art fitness center, a club lounge, a market, a business center, conference rooms as well as on-site parking.
These projects highlight ROVR Development’s commitment to innovation and excellence in real estate development, setting new standards for urban living in the River Rapids neighborhood.
About ROVR Development
Founded by Miami real estate veterans Oscar Rodriguez and Ricardo Vadia, ROVR Development brings more than 35 years’ combined experience in the acquisition, planning, management and development of mixed-used and residential communities. With an unparalleled command of South Florida’s real estate market, acquired through decades of first-hand development experience, the ROVR team has pioneered projects of long-lasting impact that underscore their unique expertise. Their singular ability to discover emerging markets and identify valuable sites early on, alongside their deep-rooted market relationships, allow for a dynamic approach to developing housing solutions. Since their launch in 2015, ROVR has cultivated a portfolio of over $1.1 billion in assets including condominiums, multi-family rentals, affordable and mixed income as well as mixed-use developments throughout South Florida. Recent examples include District 225, River Rapids, Delaware Parkway, College Station Apartments, Arvella Apartments, Griffin 441, Biscayne 112, Grand Station Apartments and The Fairchild Coconut Grove.
