Key Biscayne’s Next Icon: Boutique Condo by Terra and Fortune
In a landmark deal that signals a new era of upscale island living, Terra and Fortune International Group have announced their joint acquisition of the former Silver Sands Beach Resort property in Key Biscayne for $205 million. The two powerhouses of South Florida luxury real estate plan to transform the site—located at 301 Ocean Drive—into a 56-residence ultra-luxury boutique condominium. Poised to become the most climate-resilient property on the island, the project will embrace sustainable design and community-focused investments, with construction expected to begin in late 2026.
Key Biscayne, long celebrated for its safe streets, strong sense of community, and vibrant cultural identity, serves as an ideal setting for a development that blends luxury with responsibility. Designed by the award-winning Touzet Studio in collaboration with renowned landscape architect Raymond Jungles, the development draws inspiration from Key Biscayne’s architectural roots and the historic Stiltsville homes off Biscayne Bay. The tropical modern design will appear to float above a vibrant native landscape, rich with climate-appropriate plantings.
The property will also integrate forward-thinking environmental features, such as rain gardens, bioswales, and an underground cistern system—all designed to prevent water runoff and support stormwater retention. These elements ensure the property sets a new standard for climate-resilient design on the island.
The boutique condominium will offer just 56 spacious residences with sweeping views of the Atlantic Ocean. Residents will enjoy an amenity-rich lifestyle that includes a signature fine dining restaurant, two resort-style pools, a fitness center and spa, and thoughtfully curated social spaces that cater to both privacy and community.
Beyond luxury and sustainability, the development team is committed to enhancing local infrastructure. Planned investments include improvements to traffic flow, upgrades to the Village’s drainage systems, and financial contributions to Key Biscayne’s Land Acquisition Trust—funding enhancements to public parks and green spaces. The project is also expected to generate substantial economic benefits, including increased property tax revenues that will strengthen the Village’s long-term financial outlook.
Both Terra and Fortune bring extensive experience and prestige to the project. Terra’s portfolio includes acclaimed developments such as Five Park Miami Beach, Mr. C Residences Coconut Grove, and Villa Miami. Meanwhile, Fortune is known for iconic projects like Jade Signature, The Ritz-Carlton Residences Sunny Isles Beach, and ORA by Casa Tua.
As the island community of Key Biscayne continues to evolve, this new development promises to embody the very best of refined coastal living—where architectural elegance meets environmental stewardship and deep-rooted community values.
