Miami Beach will have a luxury condo tower and hotel on North Beach’s Ocean Terrace in exchange for a $15 million public park. Despite a 2015 public vote against increasing density in North Beach, commissioners unanimously voted in favor of the condo tower and hotel building on the beach. The future land use designation and zoning regulations of a two-block stretch between 73rd and 75th streets on Ocean Terrace will be used to build the structure. Alex Blavatinik, who is the brother of the energy billionaire Len Blavatink, will scale North Beach construction project.
In addition to making the luxury condominium tower, the builders will renovate two oceanfront hotels to add new 110 guest rooms. This project will be headed by Ocean Terrace Holding which will also include 18,000 square feet of new retail space. Blavatnik and his partner Sandor Scher agreed to build a nearby parking lot and transform the current parking lot into a multimillion-dollar public park that will be designed by Raymond Jungles.
According to Scott Cooper Florida, Miami Beach is the most explored one in the US and every year millions of people visit here. Hence dozens of North Beach citizens stood up to take part in the commission meeting. Those who were in favor of the project said yes and spoke on how developed Ocean Terrace will beautify North Beach. The motto behind the project was “Vote Yes for Paradise and No to Asphalt. Nearby residents are believing that their property value will increase due to Ocean Terrace.
