Construction is underway in South Beach on a project that will see up to seven historic buildings renovated and converted into a 305-room hotel complex, according to The Real Deal.
Chetrit Group obtained a $55 million loan for the project, called the Collins Park Hotel. The developer also filed a Notice of Commencement today that work was beginning, with construction scheduled to be completed in 20 months.
The properties total 1.65 acres, including 2035 Washington Avenue, 430 21st Street, 2030 Park Avenue, 2000 Park Avenue, 425 20th Street and 435 20th Street. When the new hotel is completed all of the roofs will be connected and amenity space will be shared at ground level.