Blue Road and Ilia Development Group have started sales for The William, a 26-story condominium project planned for Northeast 163rd Street in North Miami Beach. The Real Deal reported that the tower will have 374 units on a 1.1-acre site at 2040 Northeast 163rd Street, which is currently occupied by a medical office building.
The development teams, led by Blue Road CEO Jorge Savloff and Ilia’s Germán Osorio, are planning to utilize EB-5 investment funding for the project. The minimum required investment for EB-5 participants is $1.05 million.
Fortune International Real Estate’s development sales division will handle sales and marketing for The William. Unit prices will start at $380,000 and go above $1 million. Residences will range from studios of 552 square feet to three-bedroom condos of up to 1,412 square feet.
A spokesperson said that short-term rentals will not be permitted in the building.
Amenities planned for residents include more than 40,000 square feet featuring 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 with an expected completion timeline of about three years.
Records show that an affiliate linked to the developers acquired the property in 2022 for $7.5 million.
The project is named after William Fulford, who was a U.S. Coast Guard captain over a century ago and once owned land that became part of North Miami Beach.
Architect Carlos Ott along with Behar Font & Partners are designing the building; interiors are being created by Urban Robot.
This venture marks at least the second collaboration between Blue Road and Fortune International Group in North Miami Beach. Their previous joint project is Nexo Residences at 13899 Biscayne Boulevard—a 16-story condo building allowing short-term rentals—which recently secured a $73.3 million construction loan from Bank Hapoalim with backing from EB-5 investors and is expected to finish next year.
Another major planned development in the area is Uptown Harbour by Dezer Development on the current Intracoastal Mall site spanning 29 acres.
