1675-1 Art Deco r. ■MEMMOb
• Crescent Hotel
1420 Ocean Drive
Miami Beach
Florida, 33139
June 1, 1982
Honorable Commissioner Leonard 0. Weinstein,
Dear Sir:
Please take a few minutes to read the enclosed article which
appeared in the May issue of Money Magazine. It is of the utmost
importance to the future of Miami Beach that you aquaint yourself
with the ramifications involved.
It is evident that the Art Deco Group does not want their hotels
to show a profit. The reason for this is now clear.
Their immediate goal is to have a large area of South Beach, more
specifically all of Ocean Drive, declared a Historic Preservation
area, without the consent of the owner. If they succeed, no matter
how the ordinance is worded or whatever benefits are allowed the
property owner, no major developer will be interested in this sec-
tion. It is difficult enough to interest a developer in Miami Beach
without additional limitations to hinder his projects. This of
course will severely depress the real estate value in South 3each.
It has become impossible for the hotel owners on South Beach, like
myself, to continue to operate our hotels. We are loosing money
every year and can not meet our obligations. This will force us in-
to bankruptcy unless we can sell our property. If we can not sell
to a developer, then sooner or later the Art Deco Group will buy our
buildings at a depressed market price. They have no problem raising
money to buy property and are not interested in a profitable hotel
operation.
4
They are concentrating their purchases on Ocean Drive, since this is
prime land in Miami Beach for future development.
1
The ordinance you are contemplating has the provision that if economic
distress is proven by the owner, then his building may be demolished.
It is a logical conclusion that in a few years, when the Art Deco
Group owns many blocks of Ocean Drive, it will declare each hotel
an economic failure, since none of them is showing a profit. Then
they will be able to sell the Property to major developers. The
buildings will be demolished, and replaced with new luxury hotels
or large luxury condominiums, whatever the demand may be. In
either case, they will make a tremendous profit for themselves, and
Historic Preservation will be forgotten.
The only hope for the survival of Miami Beach is to do anything and
everything to attract tourists from every country of the world, and
to have the modern luxurious hotels, restaurants, and entertainment
facilities to accommodate them. The sophisticated tourists of to-
day demand the best, and we must give them the best.
Great strides towards this goal have just been made by this adminis-
tration in negotiating the construction of the New Convention Center
Hotel. Also by leading the redevelopment below 5th St. to it's
long overdue conclusions.
Please do not stop progress now. South Beach can become the
neucleus for a "New Miami Beach Tourist Boom". The large number of
condominiums in North Beach are not likely to be torn down. South
Beach needs only to tear down its small, old, run down buildings
to make way for a glorious future of tourism in Miami Beach.
espectfully Yours,
f://-V WcrSa
Mark Stadler