With Green Light, Transacta In Talks With Hotels For North Beach Project
With approvals in tow, a noted Miami developer is in talks with operators to take over a planned hotel mixed-use project on North Beach.
Transacta Developers CEO Silvia Sabates Coltrane said she is planning to break ground in Q3 on a mixed-use project on 72nd Street between Collins and Harding avenues that will encompass a 179-room boutique, select-service hotel and 20k SF of retail. This comes after Transacta received final municipal approvals this past week on the project design.
“I'm talking to all the major flags: Marriott, Hilton and IHG,” Coltrane said. “And I'm talking to several Spanish flags that want to come into the market.”
Coltrane said the as-yet-unnamed project includes outdoor seating and gardens. Noted Miami hotel redevelopment firm Claro Development is working with Transacta on the project as well.
Coltrane said the $65M hotel will be geared more toward families who don't want to pay the price South Beach hotels carry; half the hotel rooms having double queen beds.
"It's going to be attractive to people who don't want to pay that $500 to $1k a night, but do want something in the area," she said.
Transacta most recently developed a Residence Inn in Surfside (above), and is already eyeing eyeing a mixed-use project on land it owns at the corner of Collins Avenue and 73rd Street. With 30k SF of entitlement on the site, Coltrane said she is looking at a retail development with a mix of offices or residential units.
