Hyatt has teamed up with Miami-based luxurious hospitality and residential developer Gencom, with the purpose of redeveloping Downtown Miami’s iconic Hyatt Regency Miami, bettering entry out and in of the city core, and activating a key piece of Miami’s riverfront.
The Hyatt and Gencom enterprise is proposing a privately funded redevelopment that can comprise a reimagined upscale Hyatt Regency lodge with 615 lodge rooms and premium assembly house, greater than 1,500 residential residences, and open-air public house alongside the Miami River.
The proposed growth seeks to amend and restate the bottom lease that ushered in growth of the prevailing Hyatt lodge within the early Eighties to incorporate, with out limitation, an extension of the lease renewal time period from 45 to 99 years.
This summer season, Hyatt and Gencom will ask the Metropolis of Miami Fee to position a referendum on the November 2022 poll asking voters to approve the revised floor lease and the proposed growth. If permitted by a majority of voters, development on the Hyatt Regency Miami web site is predicted to start in 2025.