Both hotel and residential units will likely be extremely small. According to the release, the Miami project will include 250 Yotel hotel rooms and 208 Yotel residential Pads. Yotelpads will start at 425 square feet.
(a zoning application submitted last year showed 188 residential units ranging in size from 400 to 960 square feet, along with 225 hotel rooms ranging in size from 200 to 862 square feet).
Yotel CEO Hubert Viriot told Skift that the owners will be able to buy the Yotelpads being developed in Miami, while in other cities they may be offered as extended stay rentals. Another executive implied that units in Miami would be condo-hotel, with the option to be placed into the hotel rental pool.
Residents will have access to Amazon lockers, bike storage, a laundry room, cinema, and club lounge.
Aria Development Group Launches Newest Project- YOTELPADMiami
The development firm is offering 208 residential units on the upper floors of YOTEL Hotel
MIAMI – (January 16, 2018) –Aria Development Group, a New York and Miami-based real estate investment and development company, today reveals its newest project, YOTELPADMiami in the heart of Downtown Miami. YOTELPADis a new residential offering under the YOTEL brand umbrella. Aria Development Group and joint venture partner, AQARAT, one of Kuwait’s leading real estate companies, are bringing this development to market as the first YOTELPAD to arrive on the East Coast. Located at 227 NE 2nd Street, YOTELPAD Miami will feature 208 seamless residential units in addition to 250 YOTEL cabins.
“Downtown Miami is emerging as a high-energy place to live, shop and work,” said David Arditi, Principal of Aria Development Group. “With YOTELPAD Miami, we are meeting the strong demand for service-oriented, urban-chic apartments. In addition, owners have the unique opportunity to participate in a short-term rental program. Together with the YOTEL brand, we are delivering a thoughtful, value-luxury experience in a dynamic location.”
After successfully launching YOTEL and YOTELAIR,the company recognized an opportunity to incorporate residential offerings into its portfolio with a goal of optimizing space and technology. YOTELPADMiami caters to investors and young professionals who desire an exciting, metropolitan lifestyle in the center of Downtown Miami. With this unique project, Aria Development Group seeks to connect like-minded individuals at an attainable price point. The development will offer studio, one and two-bedroom units with prices starting in the $250,000 range.
YOTELPAD Miami will be located on floors 15-30 of the building, above the hotel portion of the project. Floorplans range from 425 square foot studios to 700 square foot two-bedroom units. The PADs will feature carefully cultivated floor plans with integrated living, kitchen and dining areas, delivered fully finished with top-of-the-line flooring and lighting. In addition, PADs will offer floor-to-ceiling sliding glass doors and terraces with views of Downtown Miami.
“With our vast industry experience in mixed-use developments and established track record in the global hospitality market, we look forward to successfully delivering one of the first YOTELPAD projects in the world,” said Fahad Al-Shamlan, Vice President of Investments & Acquisitions for AQARAT. “We see great synergy in combining the innovative, high-design elements of the YOTEL brand with modern, urban residences in a city like Miami.”
Buyers will have the best of both worlds with the ability to utilize the common areas of the hotel as well access to a private penthouse-level that is exclusive to the residents. The Sky Lounge features a game area, luxury living room with fireplace and an intimate chef’s kitchen with private dining for 12 guests. Amenities in the building will include: concierge services, secure bike storage, gourmet coffee bar, full-service restaurant and bar with outdoor seating and private dining, state-of-the-art fitness center, co-working space, a lounge, pool deck and pet spa. In addition, each PAD will come with a dedicated storage unit. OneWorld Properties is the brokerage for this development.