A proposal has been submitted to build a luxury hotel at Miami International Airport’s North Terminal.
FDR Miami Hotel, LLC submitted the proposal to the county, and is recommended as the winning bid over two other proposals.
The LLC is a joint venture between Jeff Soffer’s Fontainebleau Development, LLC and Stephen Ross’ Related Companies.
The hotel would be designed by Arquitectonica, the documents state.
Miami-Dade has set a minimum standard for the new facility to be an Upper Upscale hotel (also known as a four-star hotel).
Other minimums include that it must have at least 451 keys; an all day full-service restaurant/bar; rooftop restaurant; pool with terrace; business/meeting/event space; fitness center; and spa.
There will also be a climate-controlled pedestrian connection bridge between the hotel and Concourse D, and valet parking using spaces in MIA’s garage.
The hotel would be built on 1.82 acres next to the terminal.
It is estimated that the lease will generate $240M over a 50-year term. Rental payments will be 3.5% of gross revenue, with a minimum annual guarantee of $2.5M.
Miami-Dade commissioners are scheduled to vote on awarding the contract on May 10, at a meeting of the Miami-Dade Airport and Economic Development Committee.