LTC 217-2023 Convention Center Hotel Project- Grand Hyatt Miami BeachM IA M I BEACH
OFFICE OF THE CITY MANAGER
LTC# LETTER TO COMMISSION
TO:
FROM:
DATE:
Honorable Mayor Dan Gel~er an Me bers of the City Commission
Alina T. Hudak, City Mana
May 10, 2023
SUBJECT: Convention Center Hotel Project- Grand Hyatt Miami Beach
The purpose of this Letter to the Commission ("LTC") is to advise you on the status of the Grand
Hyatt Convention Center Hotel (Hotel) project. The information below is provided by the
Development team, Miami Beach Mixed Use Investment, LLC (MBMUI) as part of regular monthly
updates.
The Early Access Agreement (Early Site Work) is moving forward to completion by mid to late
summer. Approximately $15 million has been spent on the project to date by the Developer. A 90-
day notice was issued by the City to Live Nation on April 28, 2023 advising them of the completion
of the early site work by July 28, 2023 which will allow the Jackie Gleason Theater to re-open.
In addition, the Developer has advised that the date of construction loan closing and formal
possession of the site is currently being targeted for September 2023. This will coincide with the
commencement of the structural foundation work and allow the subsequent commencement of
vertical construction and a potential groundbreaking ceremony by November 2023 .
•
The Developer anticipates construction to take approximately 30 months from the date of
possession with completion and a Hotel grand opening by Spring 2026.
For more information, please contact me or Maria Hernandez via cellphone at (786) 371-3168 or
at mariahernandez@miamibeachfl.gov.
217-2023