Rapper Rick Ross Joins 670-Unit Miami Gardens Condo Project

Rick Ross may have gone platinum for Blowin' Money Fast, but he is hoping his latest project will turn into Money So Long.

Rick Ross Rapper

Ross has joined the development team of an eight-story, 670-unit residential project dubbed EnSima, with 165K SF of retail in his hometown of Miami Gardens, according to a release.

The 50-year-old rapper and record executive is partnering with EnSima Miami I, a company led by entrepreneurs Shalom Arik Maimon, Ali Yesil and David Shapiro and Israeli mentalist Lior Suchard, for the project. It was announced in March for an undisclosed site about five minutes away from Hard Rock Stadium, according to its website.

EnSima's sales gallery is expected to open in September to showcase the units, which are starting at roughly $593 per SF — a juxtaposition from the new-construction Miami condos that are selling for well above $1,000 per SF.

A roughly 650 SF one-bedroom unit starts at about $450K, according to EnSima's website. A 900 SF two-bedroom unit starts at about $580K, and a 1,200 SF three-bedroom unit goes for about $770K.

It is unclear when construction, expected to be “executed by” TerraForm Development, according to the release, is projected to kick off.

Ross is no stranger to business ventures beyond his prodigious music career, which has landed him four Black Entertainment Television awards and nine Grammy nominations and allowed him to launch his own record label, Maybach Music Group.

He owns and operates nearly 30 Wingstop franchise locations as of 2022 through Boss Wings Enterprises. He also holds an equity stake in Luc Belaire sparkling wine and Bumbu rum and partnered with custom automotive detailing product Slippery Soap, which is offered in more than 4,000 AutoZones across the country.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's South Florida Newsletters
Related Stories

Hedge Fund Bids $88M For Spirit Airlines' Former HQ

Camden Property Trust Sells West Coast Portfolio, Clears $1.5B Target

Bringing Stability And Savings To CRE Insurance Through Working Layer

Former Arms Dealer Targeting Heartland Apartment Takeover Files For Bankruptcy

SEC Charges REIT, Its Founders With Alleged $152M Fraud Scheme

Miami's Condo Craze Has Developers Spending Millions On Sales Galleries

Boca Raton's New Leaders Throwing 'All Kinds Of Curveballs' At Developers

Slate, Hudson Cos. Picked To Develop Massive Queens Housing Project

Ryan Cos. Secures Permit For Austin's Sixth Street Redevelopment

Ken Griffin Completes Takeover Of Brickell Block, Setting Stage For $2.5B Megaproject

How A New Financing Model Helps Spur More Mixed-Income Housing

Waste Management Buys Medley Site For $379M: The South Florida Deal Sheet