DACRA's Sweetbird North Breaks Ground in Miami Design District

Craig Robins’ DACRA and L Catterton Real Estate have started construction on Sweetbird North at 95 NE 40th St in the Miami Design District, with groundbreaking reported for September 30. The eight-story building, designed by Snøhetta, is slated for completion in early 2028. The City of Miami had already issued a $31.1 million building permit for the address on August 4, as we reported at the time.

Why it matters

The developers landed a marquee health and wealth tenant roster before vertical construction began. Atria Health and Research Institute takes about 55,000 square feet on floors three through five, with its own private ground-floor entrance. Commercial Observer reports that 26North, the alternative asset manager led by Josh Harris, takes one floor, and that Raycliff Capital, a partner in the project, takes another.

For developers, the read is that Miami office demand is being won by specific tenant types, not by generic space. Anchoring roughly 60 percent of the office area with a single membership-based health operator de-risks the building before steel goes up. Pre-leasing at that level is the signal lenders and equity partners look for on new office product.

The project is also a bet on the district itself. The same sponsors have announced a 25-story residential tower and a 12-story Fouquet’s-branded hotel nearby, which are not yet under construction.

The numbers

The building totals roughly 120,000 square feet: about 92,000 square feet of office and 22,500 square feet of ground-floor retail. Atria’s lease accounts for about 55,000 of the office square feet. Commercial Observer reports the project closed a $125 million construction loan in August 2026. Reports differ on the lender, and PROFILEmiami says financing was not disclosed, so we are not naming one.

Snøhetta’s design uses layered volumes, planted terraces and a mesh facade. David Rockwell is reported as the interior designer for Atria’s space.

What’s next

Construction runs through early 2028. Watch for retail leasing announcements on the 22,500 square feet at street level, and for who fills the remaining office floors. Developers tracking the Design District should also watch whether the residential tower and hotel move to groundbreaking. More coverage is in the South Florida market hub.