Part of Miami Beach hotel demolished, paving way for $750M back-to-the-future project
Real estate developer Michael Shvo took a bulldozer to one of his historic Miami Beach hotels, inching forward to the completion of his $750 million project.
Bulldozers and construction cranes ate away at the back-end of the Richmond Hotel at 1757 Collins Ave. on Tuesday morning, proceeding with a partial demolition process. Famed Art Deco architect Lawrence Murray Dixon designed the Richmond and adjacent hotels the Raleigh and South Seas in the 1940s. New York-based development firm SHVO intends to remove any additions made in subsequent decades to the three oceanfront hotels to leave them as originally designed.
The Raleigh and Richmond Hotel will have 60 hotel suites while the South Seas Hotel will house a fine-dining restaurant. A new 17-story, 175-foot condominium called the Rosewood Residences Miami Beach will sit behind the Richmond and South Seas. It will house 44 residences. The Rosewood Hotel Group will manage the Raleigh Hotel and Raleigh Residences. The project will be completed by 2025.
Shvo, chairman and CEO of SHVO, told the Miami Herald on Friday, “We are peeling the onion, bringing back these buildings to their original state. Once we are done, the public will see these historic buildings as they were originally built.”
Construction workers will first completely strip away portions of the Richmond Hotel, then move on to the South Seas Hotel and, in the fall, remove a penthouse on The Raleigh.
SHVO committed to revitalizing the Raleigh in 2019, taking control of the property from former owner and designer Tommy Hilfiger, who originally planned on converting the eight-story hotel at 1775 Collins Ave. into an exclusive members-only club. SHVO acquired the Raleigh, the Richmond and South Seas for a combined $242.5 million and set aside $507.5 million for construction.
“No property in Miami Beach is more important than the Raleigh,” Shvo said. “It is probably the most loved hotel on the beach. When I entered the Miami market, it was with the intention to acquire it.”
The Raleigh gained recognition for becoming a hot spot for celebrity sightings, Miami Design Preservation League Executive Director Daniel Ciraldo told the Miami Herald. Lucille Ball’s husband and “I Love Lucy” star Desi Arnaz performed in a band on the site before his hit show, competitive swimmer and actress Esther Williams splashed in the iconic pool and Karl Lagerfeld later debuted a Chanel cruise collection on site.
This story was originally published August 2, 2022 at 6:30 PM.
