Developers paid $65 million for a Holiday Inn in downtown Miami and plan to raze the 10-story hotel and build a 77-story tower on the site at 340 Biscayne Boulevard.
Iris Escarra, a Greenberg Traurig attorney representing the developers, told the Miami Herald that the city’s Urban Design Review Board has approved the 77-story mixed-use tower planned for the site.
Escarra also said the tower would include 270,000 square feet of retail space; 246,000 square feet of office space, 400 condos and 240 hotel rooms.
The Federal Aviation Administration already has approved the 953-foot height of the tower, which would be called ITC Miami.
The buyer of the Holiday Inn is a Brazilian developer named Gilberto Bomeny. A developer in Sunny Isles Beach, Louis Montello, also is listed on corporate documents filed by one of the companies that submitted plans to the city,
Colliers International South Florida agents Larry Stockton and Jeff Resnick brokered the sale of the Holiday Inn. [Miami Herald] — Mike Seemuth