Codina Partners is teaming up with an India-based developer to bring a Marriott-branded boutique hotel to its Downtown Doral mixed-use development.
The Coral Gables-based developer and Mumbai-based MICL Global filed plans with the city for an eight-story Tribute hotel, a Marriott International boutique brand designed by Miami-based Arquitectonica, the South Florida Business Journal reported.
In June, a Codina affiliate sold nearly an acre of vacant land at the southeast corner of Northwest 53rd Terrace and Paseo Boulevard for $14.4 million to Paseo Hotel LLC, a joint venture between the developer and MICL Global.
The hotel project would span just over 100,000 square feet and include 168 guest rooms, 1,500 square feet of commercial space and no parking, with guests instead using an existing nearby garage.
Doral’s hotel market is largely driven by corporate travel, conventions and its proximity to Miami International Airport.
The Tribute hotel would add to the city’s roster of hotels, joining properties such as Trump National Doral Miami, the InterContinental at Doral Miami, AC Hotel by Marriott, Marriott’s Villas at Doral, Residence Inn and Hampton Inn.
The hotel is the latest project planned for Downtown Doral, the 250-acre mixed-use project developed by father-daughter duo Armando Codina and Ana-Marie Codina. It includes 5,000 housing units, 660,000 square feet of offices, about 40 shops and restaurants, a charter school, cultural center and the Doral Government Center.
Apartment towers include the 19-story, 231-unit Palma Tower One at 5250 Northwest 84th Avenue, and the 20-story, 228-unit Palma Tower Two at 5225 Northwest 85th Avenue.
Codina continued expanding the project last year, landing a $100 million construction loan for Sevilla, a 412-unit apartment project under construction on a 4.2-acre site at Northwest 53rd Street and Northwest 52nd Terrace. The seven-story building is expected to be completed next summer, with the first residents moving in early next year.
The developer is also building Downtown Doral’s final retail phase. Codina secured a $38.8 million construction loan last year for a project with 25,000 square feet of commercial space and 932 parking spaces along Northwest 87th Avenue between Northwest 52nd and 53rd streets. University of Miami Health System plans to open an eye care and physical therapy center there; it already operates a six-story UHealth medical center nearby at 8375 Northwest 53rd Terrace.
Outside of Downtown Doral, Codina’s portfolio includes downtown Miami’s 29-story Museum Tower and several industrial complexes. The firm partnered with Affinius Capital to develop the 75-acre, 1.3 million-square-foot Beacon Logistics Park in Hialeah, which was completed last year.
Codina’s Tribute hotel partner, MICL Global, is also co-developing the Ritz-Carlton Residences, Fort Lauderdale Beach with Diana Ulis’ Admire Capital, an affiliate of her DA Capital Group.
Sales and marketing for the two-building, 13-story, 83-unit condo at 551 Bayshore Drive launched in February with prices starting at $2.5 million.
—Eman Elshahawy
Read more
Development
South Florida
Codina scores $100M construction loan for 412-unit multifamily project in Downtown Doral
Residential
South Florida
Diana Ulis, Indian firm MICL launch Ritz-Carlton-branded Fort Lauderdale condos
Commercial
South Florida
Codina lands $39M loan to build 25K sf of retail at Downtown Doral