realestate

Oak Capital, Edifica Plan 832-Key Hotel in Miami's Financial District

Developer Ricardo Dunin and Edifica propose a 43-story hotel in Brickell, marking their continued investment in Miami's financial district.

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eveloper Ricardo Dunin and Peruvian firm Edifica are proposing a 43-story hotel in Brickell, marking their continued investment in the area's financial district. The project, called House of Wellness, would feature 832 keys, 339 parking spaces, and a rooftop pool on a 0.6-acre site at 132, 142, and 152 Southwest Ninth Street. North Development, a joint venture between Dunin's Oak Capital and Edifica, is under contract to purchase the site for an undisclosed price.

    The developers are seeking a special exception from Miami-Dade County for a general development plan and to designate the sites as part of the Metromover subzone. This designation would allow for larger projects due to their proximity to a Metromover station. In exchange, North Development has pledged $200,000 towards pedestrian improvements at the nearby Brickell Metromover station.

    This project marks the latest collaboration between Oak Capital and Edifica in Brickell, following the launch of the 35-story Domus Brickell Center condo tower earlier this year. The developers have also partnered on other projects in the area, including a $70 million construction loan for the 12-story Domus Brickell Park.

    Other residential developers are also eyeing Brickell for new projects. Related Group and Integra Investments recently secured $527 million in construction financing for the St. Regis Residences, Miami condo tower at 1809 Brickell Avenue. Meanwhile, Meta Development plans to build a pair of five-story buildings with 36 units atop a parking podium at 1870 and 1880 Brickell Avenue.

Construction plans unveiled for 832-key hotel in Miami's financial district by Oak Capital.