Developers have submitted two competing bids to redevelop the Byron Carlyle Theater in North Beach.
Miami Beach invited bidders to submit proposals for the property and received just two responses.
Pacific Star Capital would build an 11-story building designed by Kobi Karp, with 160 hotel rooms and ground floor commercial space.
The Byron is a competing bid from Matis Cohen, Keith Menin, and members of the Galbut family. It would include 114 residential units, in a seven story building designed by Arquitectonica. Apartments would be micro-sized.
Both bidders own property nearby with plans for development.
A cultural center would also be developed as part of the bids.