Redevelopment proposal announced for Downtown Miami Hyatt
Hyatt and the Miami-based developer Gencom have together revealed their proposal to redevelop Downtown Miami’s celebrated Hyatt Regency Miami.
The development aims to improve access in and out of the urban core and activate that area of Miami’s waterfront.
An exciting proposal
The proposed privately funded redevelopment encompasses a reimagined Hyatt Regency property. Plans for this property include 615 guest rooms and more than 1,500 residential apartments, along with premium meeting space and open-air public space along the river.
Hyatt and Gencom will ask the City of Miami Commission to place a referendum on the November 2022 ballot this summer, asking voters to approve a revised ground lease, which includes an extension of the lease renewal term from 45 to 99 years, along with the proposed development. On approval, construction would begin in 2025.
“The City of Miami had the foresight to designate this property for an upscale hotel and meeting complex that would establish Downtown Miami as a hub for tourism, business and major events,” said Phil Keb, executive vice president of development at Gencom. “In the four decades since, Hyatt Regency Miami and the James L. Knight Center have helped fuel downtown’s rise as a thriving hospitality, residential and commercial district.”
“Our team’s privately financed upgrades will help ensure the Hyatt hotel site remains a critical economic engine for decades to come, while unlocking benefits in the form of new public space along the Riverwalk, improved access, upscale housing, and increased revenue for the city.”
A new lifestyle hub
Miami-based design firm Arquitectonica has come up with plans for the site with three towers providing hotel guests and residents with views over Downtown Miami and Biscayne Bay. The 61-storey towers one and two are designed to house 682 multi-family apartments, 264 serviced apartments and the 615-key Hyatt Regency hotel. These towers are to be linked by a Skybridge with a destination restaurant and lounge.
Anticipated to become one of South Florida’s tallest buildings, the development’s third tower would then be home to 860 residential apartments. The development would meet the growing demand for residential apartments in this area.
These three towers are to top a podium structure containing meeting space, dining and drinking venues, retail outlets, co-working space and parking, all connected to 50,000-sq-ft of outdoor public space on the riverfront.
The development is designed to alleviate congestion in the surrounding streets, with a large arrival and drop-off area, and it will complete a portion of the Miami Riverwalk creating connectivity with Biscayne Bay, Bayfront Park and the Metromover’s Riverwalk station. Zones will be dedicated to bike parking and an improved pedestrian bridge will provide access to Metromover’s Knight Center Station.
“The Downtown area where Hyatt Regency Miami is located represents a nexus between the Brickell Financial District and the Central Business District, and it sits at a vital entry point for many people entering the urban core,” said Bernardo Fort Brescia of Arquitectonica.
“Redeveloping this land is an opportunity to rethink the way people will access this site over future decades – by foot, bike, train, car, and boat. The new vision for this development will enhance the flow in and out of Downtown and create vital public space along the Miami River, which is growing in importance as more people take residence in the neighbourhood.”
“This proposed redevelopment represents a strategic opportunity to thoughtfully reinvest in the Downtown Miami community, which we have proudly been a part of since Hyatt Regency Miami opened its doors in 1982,” added Pete Sears, Americas group president, Hyatt. “With Gencom, we remain committed to pursuing redevelopment plans that add value to the Miami community and demonstrate care for our guests, colleagues and customers.”
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