The developers of the Grand Hyatt Miami Beach have already spent around $15 million on the project and are nearly finished early site work, according to a May letter sent to city commissioners.
Early site work has been taking place at the property, with the adjacent Jackie Gleason Theater closed to accelerate the process.
On April 28, a 90-day notice was issued by the City to theater operator Live Nation advising them of the completion of the early site work by July 28, 2023, and allowing the facility to re-open. Live Nation has conceptual plans to demolish and rebuild the facility, but events are still scheduled to resume later this year.
The Grand Hyatt is planned to become the hotel attached to the Miami Beach Convention Center.
The date of a construction loan closing and formal possession of the Hyatt site was being targeted by the developers for September 2023, the letter said.
Structural foundation work was also planned to begin at that time, allowing the subsequent commencement of vertical construction and a potential groundbreaking ceremony by November 2023.
From then, construction is estimated to take 30 months, with completion and grand opening of the hotel now expected by Spring 2026.
The Grand Hyatt will include:
- 800 rooms (including 48 suites)
- amenities including a gym, two pools, and a resort style pool deck
- 90,000 square feet of indoor meeting/conference space, plus 10,000 square feet outdoors
- 5 food and beverage outlets, including a signature restaurant that is already leased
- A Grand Hyatt club lounge
- 320 parking spaces
Green features will include rainwater collection and solar panels.
David Martin of Terra Group and Jackie Soffer of Turnberry are the developers. Bernardo Fort-Brescia’s Arquitectonica is the architect.
