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Miami Beach committee hears developer: hotel loan on track, construction to start after March close
Summary
Developers told the committee the Miami Beach Convention Center headquarters hotel remains on schedule to close financing in March and begin initial construction work in March–April; city staff are reviewing easement documents.
Miami Beach commissioners heard an update on the timeline for the Convention Center headquarters hotel, and the city was told the project remains on schedule to close financing in March and start early construction activity immediately after closing.
Yvette Bautista, a presenter from the development team, told the Public Safety and Neighborhood Quality of Life Committee that “we are on track to close the loan by the March” and that pre‑construction activity is scheduled to begin in early March. “The test piles will begin, at the March. March third is where what we are try tracking,” Bautista said.
The developer said teams are working with lenders, preferred equity providers, bondholders, lawyers, construction consultants and insurance advisers to meet the closing requirements and the city’s pre‑closing conditions. Commissioners repeated that closing is a key milestone before visible construction begins: Bautista said the foundation work is on the previously shared timeline, with foundation work expected in the April–July window.
City staff also reported progress on property easements and related surveys. “They had already submitted the documentation for the city to review. City has hired a surveyor, to do a peer review of the documentation that they've submitted, and that's currently in the works. They expect that to be completed within the next couple of weeks,” said Ty, the city liaison to the project.
Committee chair Commissioner Laura Dominguez and Vice Chair Commissioner Alex Fernandez confirmed the item will remain on the committee agenda so members can track progress. For the record, the committee “will keep this item on to the March meeting,” and committee staff identified March 12 as the next update date.
No formal vote or permit decision occurred at the committee meeting; the presentation served as a status update and scheduling direction. Staff and the developer will continue weekly calls on closing conditions and city pre‑closing items.
The committee move keeps the project on the committee calendar so commissioners can review loan closing, easement peer‑review results, and the developer’s construction schedule at the March meeting.
