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Developer scores approval for
North Beach hotel

IC Property Capital Corp. plans 16-key hotel with rooftop pool and underground parking
October 24, 2017 03:00PM

Rendering of North Beach Hotel

A French developer is moving forward with its plans to build a boutique hotel in North Beach.

IC Property Capital Corp., led by Lucas Mattout, secured approval from the Miami Beach Design Review Board for a 16-key hotel at 7128 Indian Creek Drive, according to a press release. It will feature a rooftop pool deck and underground parking, the latter of which will be covered by a graphic mosaic on the façade.

Property records show the firm paid $1.4 million for the 6,500-square-foot lot in April. Mattout is also founder and CEO of Mattout Stone & Tiles, according to his LinkedIn profile. The project marks the first for IC Capital in South Florida, according to the release. Greenberg Traurig shareholder Ethan Wasserman represented the developer.

The hotel will replace an eight-unit apartment building built in 1946.

IC Capital is one of many investors that have recently targeted North Beach. About a year ago, the Miami Beach City Commission approved a master plan for the neighborhood, which stretches from 63rd Street to 87th Street. The plan offers a set of specific proposals to revitalize the area, where development has lagged behind South Beach and Mid-Beach.

The 189-page master plan calls for five big ideas to revitalize the area: the creation of a town center along 71st Street, more walkable streets, enhancing neighborhoods through the creation of local historic and local conservation districts, the creation of more parks and upgrading construction to withstand the challenges of sea-level rise.

Developers and preservationists are now promoting a ballot measure that allows for an increase in maximum density or allowable square footage of a structure for specific areas of North Beach. Residents will vote on the measure Nov. 7. If approved, developers could build a mixed-use “Town Center” district along 71st Street. – Katherine Kallergis