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