Portman Holdings unveiled plans last week to build a $405 million, 800-room convention center hotel in Miami Beach. Portman is the only bidder remaining for the project after a second bidder was disqualified.
Company founder John Portman, best known for designing atrium hotels around the world, is the architect who designed the proposal for a 300-foot tall, gold-trimmed hotel tower next to the convention center.
The project also includes bars, restaurants, 320 parking spaces and landscape design by West8, replacing the Filmore Theater’s surface parking lot. Portman says that they will activate 17th Street by lining it with a tree canopy and food and beverage functions.
The plan must be approved by both the city commission and Miami Beach voters.
If approved, Portman says that 100% of construction costs will be privately financed, in exchange for the city granting a 99-year, no-cost lease on the land. Portman will also pay the city 4% of gross revenues.
Miami Beach commissioners could vote on the plan as soon as May 20, and voters could decide on it this Novemeber.