LTC 150-2025 Grand Hyatt Miami Beach Convention Center Hotel - Financial CloseMIAMI BEACH
OFFICE OF THE CITY MANAGER
LTC# 150-2025 LETTER TO COMMISSION
TO: Honorable Mayor Steven Meiner and Members of the City Commission
FROM: Eric Carpenter, City Manager 8,;,c_
DATE: April 11, 2025
SUBJECT: Grand Hyatt Miami Beach Convention Center Hotel -Financial Close
The Administration is pleased to report that the Developer, MB Mixed Use Investment, LLC, has
successfully reached financial close for the Grand Hyatt Miami Beach Convention Center Hotel
(the "Project"), officially taking possession of the site. This significant milestone marks a major step
forward in the delivery of this long-awaited transformative project.
The Grand Hyatt Miami Beach Convention Center Hotel represents an essential piece of the City's
long-term vision for the Convention Center District. It builds upon the City's prior $640 million
investment to transform the Miami Beach Convention Center into a state-of-the-art facility capable
of hosting world-class events, conventions, and exhibitions. The addition of an integrated
headquarters hotel will significantly enhance the competitiveness of the Convention Center by
providing on-site accommodations and meeting spaces that are critical to attracting top-tier
conventions and conferences. Together, these investments will position the City of Miami Beach
as a premier meetings destination, while generating substantial economic and community benefits
for years to come.
Designed by Arquitectonica, the 800-room Hotel will also feature two ballrooms, meeting rooms,
five food and beverage outlets, a resort-style pool deck, a fitness center, and ground-floor retail
space that will activate the street-level pedestrian experience. Additionally, a climate-controlled
skybridge will provide seamless access between the Hotel and the Convention Center, enhancing
connectivity and convenience for event attendees.
The general contractor, Balfour Beatty, has already commenced the installation of test piles in
preparation for auger cast pile foundation work which is scheduled to begin within the next few
weeks. The Hotel is expected to open in late 2027.
We will continue to provide updates as the project progresses and key milestones are achieved.
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