The old Bikini Hostel on West Avenue is about to become a public park! 🌳
Terra, the developer behind the Grand Hyatt by the Convention Center, just closed a $500 million construction loan for a tower at 1250 West Avenue, replacing a 15-story building from 1964.
The new tower will have 106 condos averaging about 3,500 square feet, plus a pool, spa, padel court, and ground-floor retail.
To get approval to build that tall, the developer had to give back to the community.
They bought and demolished the Bikini Hostel across the street, and that site is becoming a public park. 🙌
They’re also required to build their section of the Baywalk and a public waterfront viewing platform before anyone can move in.
Condo sales are expected to start next year, and I’ll keep you posted as soon as the park opens! 👀
📍 1250 West Ave, Miami Beach
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Transcript
Hey South Beach! The old Bikini Hostel on West Avenue is about to become a public park. If you're new here, my name is Amara and I do video marketing for small businesses, and I keep up on all things South Beach so you don't have to.
Terra, the same developer behind the Grand Hyatt by the convention center, just closed a $500 million construction loan for a condo tower at 1250 West Avenue. This will replace a 15-story building in 1964.
The new tower will have 106 condos averaging about 3,500 square feet, plus a pool, spa, padel court, and some retail on the ground floor. To get approval to build that tall though, the developers had to give back to the public. They bought and tore down the Bikini Hostel across the street, and that site is becoming a public park.
They also have to build their section of the baywalk and a public waterfront viewing platform before anyone can move in. Sales for the units are expected to start next year, and I will keep you posted as soon as the public park opens.
