Posted Jun 9, 2022, 2:54 AM
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NYC/NJ/Miami-Dade
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Join Date: Jul 2013
Location: Riverview Estates Fairway (PA)
Posts: 46,486
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Hyatt, Gencom advance three-tower project planned for Knight Center site
Next, Miami City Commission to vote on putting the proposal to a referendum
Quote:
Developers’ nearly $2 billion plan to build a hotel and multifamily towers on the Miami River site of the James L. Knight Center and Hyatt complex in downtown Miami is gaining ground.
The Miami River Commission unanimously voted on Monday to move forward the proposal by Hyatt Hotels and Gencom to the next step. The board, which is charged with reviewing projects near the riverbank, is recommending that the Miami City Commission put the project and necessary lease extension for the 4.1-acre city-owned site to a referendum.
If approved, Miami voters would cast ballots on the item on Nov. 8.
Chicago-based Hyatt and Coconut Grove-based Gencom want to develop the three-tower Miami RiverBridge that would expand the riverwalk and the Knight Center’s meeting space, and offer outdoor public space. Altogether, the development team is planning a $1.7 billion investment for a total of 3.3 million square feet of real estate.
The Arquitectonica-designed project at 400 Southeast Second Avenue would have more than 1,500 multifamily units, a 615-key flagship Hyatt Regency hotel and 264 Hyatt-branded serviced apartments, according to a presentation before the river commission.
The tallest tower – at 95 stories and just shy of the 1,049-foot height limit set by the Federal Aviation Administration – will be multifamily, Phil Keb, executive vice president of development at Gencom, told The Real Deal. The other two 61-story towers will include the remainder of the apartments, the hotel and the serviced apartments. ![Cheers](images/smilies/cheers.gif)
A podium would have 190,000 square feet of event and meeting space, or 46 percent more than the Knight Center’s current 130,000 square feet, according to project plans. Miami RiverBridge also would have 1,100 new parking spots, co-working space and retail, including an “iconic” food and beverage concept perched 700 feet above the city on a SkyBridge connecting two of the towers.
The project also would have a 50-foot setback from the north riverbank, and would preserve an archaeological site as open space. The development team said Miami RiverBridge will have heightened multimodal transportation connectivity, as it aims to provide ease of vehicular, bicycle and pedestrian access. The site connects to the Metromover Knight Center stop.
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https://therealdeal.com/miami/2022/0...t-center-site/
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