Add one more well-known hotel brand to the Miami Beach landscape: Hyatt.
Chicago-based Hyatt Hotels Corporation said Thursday that construction of the Hyatt South Beach, its first branded hotel in the destination, is set to begin later this year.
An affiliate of Bay Harbor Islands-based Robert Finvarb Companies is developing the 105-room project at 1600 Collins Ave.
A 10-story glass tower and about 10,000 square feet of retail will replace the Tropical Gardens apartments, a 47-unit building that was vacated a couple months ago.
The existing building’s exterior walls and a portion of the original courtyard will be preserved and integrated into the final product, Robert Finvarb said. His company entered into a franchise agreement with Hyatt to develop the property, which will be managed by Island Hospitality Management.
Finvarb said the hotel is expected to open in the first quarter of 2015. He did not disclose the cost of developing the project.
“It will end up being an economic engine for that area,” Finvarb said. “It will really clean up that entire block that has been an eyesore.”
Located across the street from the Loews Miam Beach Hotel, the site will not be alone in its transformation. Next door, the Berkeley Shore Hotel was recently purchased by investors who plan a major renovation.