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Commercial Property Executive
By Lucia Morosanu
Aria Development Group, in partnership with Aqarat, has begun construction on Yotelpad, a 327,356 square-foot, mixed-use project in Miami. Stantec is providing architecture, interior design and engineering services for the 231-condo and 222-key development, which is slated for completion in early 2021.
Yotelpad is located at 227 N.E. Second St., less than 8 miles from Miami International Airport, and offers easy access to transit, restaurants and entertainment venues. The 31-story asset will be operated under Yotel’s new brand, as the first development of its kind on the East Coast. The project’s residential component will be between levels 15 and 30. The 231 condos will consist of studio, one- and two-bedroom units averaging between 417 and 708 square feet. Amenities include a 2,000 square-foot lounge with game area and chef’s kitchen, while smart lockers for package deliveries, bike and individual storage units will be available for residents on the premises.
The 222 guestrooms will be located between the second and 12th floors. Amenities will include separate lobbies for guests and residents, matcha bar, a coworking space and meeting rooms. The hotel and residential areas will be separated by a 12th floor amenity deck, dividing the building into two distinct architectural elements.
In January, Waldorf Astoria secured a $33 million development loan to begin construction on a 98-story mixed-up property in Miami located less than half a mile from Yotelpad.