Ronny Finvarb, who is developing a new hotel on the former site of a Boston Market on Alton Road in Miami Beach has snagged Kimpton as the operating company.
The hotel at 1750 Alton Road will be called the Kimpton Hotel Palomar South Beach when it opens in the first quarter of 2018, Kimpton Hotels & Restaurants and Finvarb, principal of the Finvarb Group, said on Wednesday.
Owned and developed by the Finvarb Group and designed by Kobi Karp, the hotel will span five stories and 96 rooms surrounding a central atrium. It will also feature a rooftop pool and a new signature restaurant overlooking Collins Canal, Kimpton said. The property will be Kimpton’s eighth hotel in Florida, adding to its existing hotels in South Beach, Miami, Palm Beach and Vero Beach, as well a Tampa property also set to open in 2018.
“Kimpton is a pioneer in boutique hotels and restaurants and we feel that their service combined with their stylish design is on target with what we want to accomplish at this location, Finvarb told The Real Deal. “We’re equidistant to Sunset Harbour and the most upscale section of Lincoln Road and we felt Kimpton would be the most fitting brand and operator for this location.”
The new South Beach property is also next to the Marriott Residence Inn South Beach, which Finvarb Group developed and which opened in March. Both hotels are overlooking Collins Canal.
Miami-Dade property records show Sobe Alton LLC, led by Ronny Finvarb and his father Richard Finvarb, bought the Boston Market site for $4.5 million in March 2014.
Ronny Finvarb said demolition of the Boston Market began on Wednesday. Ground breaking of the new hotel is expected soon.
The Finvarb Group, whose principals are Ronny and Richard Finvarb, was founded nearly 40 years ago. The company has developed real estate projects including hotels, high-rise condominiums, multifamily apartment buildings, single-family developments, office buildings and retail, according to the group’s website.
Recent hotel projects, in addition to the Marriott Residence Inn South Beach, include the Marriott Courtyard Palm Beach Jupiter, the Marriott Residence Inn Downtown Tempe and the Marriott Courtyard San Antonio Riverwalk. The firm also owns the Marriott Courtyard South Beach on Washington Avenue.