Developers are planning to turn one of the last vacant pieces of land in Mid-Beach into a 70-unit, low-rise, condo-hotel.
“It’s a neighborhood with a lot of the infrastructure for tourism,” said Flavio Rossato of developer Domus Group, which is partnering with Urbis Real Estate on the project. “There are restaurants, convenience stores, easy access to the beach. But it’s much less crowded than the area around Lincoln Road.”
The fully furnished units will be studios with 385 square feet and one-bedrooms between 460 and 500 square feet. They will range in cost from $260,000 to $400,000. The project is called 6080 Collins Avenue Beach House.
Domus has developed residential and hotel properties in Miami and Buenos Aires.
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So far, most buyers are investors looking to rent out the units as hotel rooms, with many based in Latin America, New York and Canada, Rossato said. One-bedrooms will likely rent for between $160 and $350 per night, depending on the season.
The four-story, $30 million project has an address at 6080 Collins Ave., across the street from the beach. Amenities include maid service, a swimming pool, valet parking and a gym. Eskape Collection will manage the hotel.
But services and amenities in general will be limited in a bid to draw younger, more cost-conscious visitors.
“Millennials just want to pay for the services they use,” Rossato said. “They don’t want to pay for a spa if they don’t need it.”
Construction will start in the fall and the project will open by the first quarter of 2017.