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Aria Development Group and AQARAT are the sponsors of the luxury condo-hotel tower, said to be the first East Coast project of its kind. Completion is set for 2021.
By Gail Kalinoski, Multi-Housing News
With more than 95 percent of its 231 units already sold, YOTELPad Miami is ready to begin vertical construction of the 31-story, mixed-use development that will be the first of its kind on the East Coast. Joint venture partners Aria Development Group and AQARAT have chosen Miami-based Beauchamp Construction as the general contractor to bring the luxury micro-unit project—slated for completion in early 2021—to life.
An extension of the global YOTEL brand, YOTELPad Miami’s residential units will range in size from 417 square-foot studios to 708 square-foot two-bedrooms. Located on floors 15-30 of the building at 227 N.E. Second St. in downtown Miami, the residences will be built atop the hotel that will have 222 guestrooms. Situated less than 8 miles from Miami International Airport, the development will offer residents easy access to transit, restaurants and entertainment venues.
OneWorld Properties, which launched sales for the condos in June 2018, sold 50 percent within six months and has now sold more than 95 percent of the units.
Aria, a New York and Miami-based real estate investment and development company, and AQARAT, one of Kuwait’s leading real estate companies, broke ground on YOTELPad Miami in February. Stantec is providing architecture, interior design and engineering services. The developers turned to Beauchamp Construction as the project’s general contractor because they wanted a firm with a strong reputation and proven local track record, said David Arditi, Aria principal. Beauchamp is an award-winning and leading general contractor that has been headquartered in Miami since 1980. Major projects in Miami include Wynwood 25, Opera Tower, the PortMiami tunnel buildings, Alhambra Towers and Cassa Brickell.
Amenities will include a 2,000 square-foot lounge with game area and chef’s kitchen, a full-service restaurant and bar with outdoor seating and private dining, fitness center, co-working space, pool deck, pet salon, bike storage and individual storage units. There will be concierge services along with the services of three Techi robot butlers from Techmetics that will be capable of delivering beverages, food, gifts, documents, packages and more.
YOTEL BRAND HITS DC
In April, a joint venture of Metrovest Equities and BLDG Management purchased Liaison Washington Capitol Hill, a 343-key hotel in Washington, D.C. for $111 million from Pebblebrook Hotel Trust. Located at 415 New Jersey Ave. in the Capitol Hill neighborhood, the new owners said they planned to convert and rebrand to the YOTEL concept. Hubert Viriot, YOTEL CEO, said the acquisition of the hotel provided a new development strategy for YOTEL to take over existing properties and use its adaptable and innovative designs for the needs of modern travelers. Because of its location, the hotel is ideal for both business and leisure travelers and YOTEL will offer its “cabins” for short stays and self-contained PADS for extended stays. The hotel will also have significant co-working and private meeting spaces.