A New York developer obtained an $89.98 million construction loan for a new hotel in South Beach.
Washington Squared Owner obtained city approval to build a seven-story, 138,797-square-foot building on the 1.6-acre site at 601 to 685 Washington Avenue. It would have 312 rooms, 25,189 square feet of amenities, 46,849 square feet of retail, and 258 parking spaces. There would be retail on the ground floor and restaurants on an open-air three-story rooftop. There would also be an entertainment space for live performances and a DJ near a pool deck.
Some of the historic features of the property would be preserved and incorporated into the project.
The hotel was designed by Morris Adjmi Architects and Nichols Brosch Wurst Wolfe & Associates (NBWW).
The city recently rezoned much of Washington Avenue to encourage redevelopment.
Read the full story HERE >>>> Source: South Florida Business Journal https://www.bizjournals.com/southflorida/news/2018/02/05/developer-obtains-90m-loan-to-build-hotel-on-sobe.html