“I would describe it as a four-and-a-half star hotel with three-and-a-half-star prices,” Levy said.

Farther north and slightly west, Vintro Hotel South Beach is set to open in fall 2013. Located along the Collins Canal at 2216 Park Avenue, the long-vacant property will turn into a 54-room boutique hotel near the Bass Museum, Miami City Ballet and Collins Park. A Vintro Hotel in Fort Lauderdale is scheduled for a summer 2015 opening.

The Miami Beach project, which has been in the works for about a year, is being developed by a family headed by Luis Amighetti. Miami-based Tailored Hospitality International is working on branding, operations and marketing for the developer.

Renovations are underway. Plans call for a third floor to be added, which will include a pool on the roof, six suites, a terrace and a reinvented shuffleboard court, said Robert Todak, founder of Tailored Hospitality International. Including the cost of the property and renovation, the total cost for the project is about $11 million, Todak said. Opening rates will start at $169 for a deluxe room and $769 for a suite.

The hotel will have a sophisticated vibe, with a focus on wine and regular live music performances — an escape, Todak said, from the “high-energy experience” of South Beach.

“We saw the merits of being slightly off, very slightly off, the main stretch but a 10-minute walk to the beach and to dozens of attractions, clubs, restaurants,” he said. “The cultural district and expansion of South Beach played an important role.”

Max Comess, a director in the hotel group at commercial real estate investment banking firm HFF, said activity has been pushing north and west since the properties closest to the ocean have already been bought up. Investors and guests both are finding more value inland, he said — as well as perks beyond the beach.

“People aren’t coming to Miami Beach today to sit on the beach,” he said. “They want to be in a hotel that’s hip, that’s cool, that’s an entertainment destination within itself. They want to be more in the mix of all of the nightlife and cultural activities, which are inland.”