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By Keith Flamer, Forbes contributor
Don’t touch something that’s too hot—unless its South Beach. Yotel is coming to Miami, the scorching city of pricey skyscrapers, luxurious condos and trendy oceanfront hotels. Don’t fret millennials, affordable help is on the way.
After successfully launching Yotel hotels and YotelAir in various world regions, the flourishing brand is seizing on the South Florida housing boom—adding residential YotelPad to its growing portfolio. And just in the nick of time.
Big cities continue crushing the hopes of ambitious, upwardly mobile millennials with exorbitant expenses—for condos, rents, hotels and transportation. Thanks to brands like Yotel and Urby, the overdue market for affordable living options is heating up.
Yotel is challenging this metropolitan status quo, giving big city folk (especially people under 35) realistic choices in this multimillion-dollar-race-to-the-skyscraper-penthouse era. Millennials can count on Yotel, which offers centralized affordable hotels and apartment living—with optimized space, premium design, nearby public transportation and smart technology beyond WiFi, TVs and conference centers.
“YotelPad Miami will comprise 231 urban chic units on the upper floors, above a 222-cabin Yotel in the heart of downtown Miami. This includes efficiently-designed, technology-centric studio, one- and two-bedroom condos—ranging from 417 square feet to 708 square feet, and starting at $300,000. Owners can also participate in an unrestricted short-term rental program. One World Properties is handling sales.”
The “PADs” will be located on floors 15-30 of the building—offering custom furniture packages, premium floors and lighting, floor-to-ceiling sliding glass doors and terraces (with downtown Miami vistas), and integrated living, kitchen and dining areas. Each PAD comes with a storage unit.
Residents will have access to Yotel’s common areas, including the exclusive penthouse-level Sky Lounge which offers games, luxury lounge spaces with a fireplace, and a chef’s kitchen with private dining for 12 guests. Amenities include concierge services, bike storage, an open-air restaurant bar, fitness center, lounge, pool deck and pet spa.
Located on 2nd Street, YotelPad Miami will be the brand’s first residential offering on the East Coast, courtesy of Aria Development Group and joint venture partner Aqarat (the USA’s first YotelPad is located in Park City, Utah). Its prime downtown location is near Museum Park, Port Miami, Miami-Dade College, and the new Brightline train which connects Miami, Ft. Lauderdale and Palm Beach.
“Downtown Miami is emerging as a high-energy place to live, shop and work,” said David Arditi, Principal of Aria Development Group. “With YotelPad Miami, we are meeting the strong demand for service-oriented, urban-chic apartments. In addition, owners have the unique opportunity to participate in a short-term rental program. Together with the Yotel brand, we are delivering a thoughtful, value-luxury experience in a dynamic location.”
Yotel New York City opened in 2011 while Yotel San Francisco opens this year. The brand expects to expand to 60 Yotels worldwide by 2023.