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Convention Center Hotel Sets a Tentative Timeframe


November 20, 2018

As the Miami Beach Convention Center continues its massive renovation project, one of the most anticipated features that’s set to join it is the hotel. Unlike the renovation which is nearing its completion in time for next month’s Art Basel events, the hotel is aiming to be complete within the next four to five years.

The Miami Beach Convention Center hotel is a lofty project with a budget of more than $350 million dollars. It is expected to include a “sky bridge” connecting it to the convention center, over 300 parking spaces, and much more. The project will result in the creation of 3,000+ jobs during the development phase, close to 2,000 construction jobs, and 724 full-time, permanent jobs.

Earlier this month, Miami Beach voters made their voices heard by approving the lease of city property to the hotel developers for a total of 99 years. This approval came with several stipulations, however. No gambling is allowed, no funding will be provided by the city, and a guaranteed rent of more than $16.5 million during the first decade of operation, to name a few.

Are you excited for the upcoming hotel? Do you think it will improve the city by encouraging more multi-day events to take place at the convention center?

This update is presented by the Miami Beach real estate team representing Blackstone International Realty, specializing in the Continuum in South Beach. If you are interested in Miami Beach condos such as the Continuum condos for sale, call the Continuum experts at 305-588-2451 for information on sales and rentals.