After buying the Shore Club in Miami Beach for $175 million last year, the new owners have announced plans to drastically remake the 309-room hotel.
Though HFZ Capital Group released few details, the developer said in a press release that the property at 1901 Collins Ave. will change into a “luxury condominium and hotel” with 85 residences and 100 hotel rooms.
Real estate company Douglas Elliman plans to launch sales for the condos during Art Basel Miami Beach in December, though reservations for some units will be taken as early as next month.
Still unclear is what those residences will look like, whether they will be available to rent as part of the hotel inventory, how much they will cost and when they will be finished. Renovations will begin in 2015, but no information was available on how long that project would take or whether the hotel will close while the work is ongoing.
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The developers “think it’s too early to answer most of these questions,” a spokeswoman said in an email.