Finally, Terra and Turnberry appear to be set to begin the groundbreaking process for their Miami Beach hotel project after years of planning. The two developers have secured $392 million in construction financing from TYKO Capital.
The project, called Grand Hyatt Miami Beach, calls for 800 hotel rooms and 17 stories, with about 12 floors reserved for guests. Also included are 52 suites, ballroom and meeting spaces, a pool deck, a lobby lounge, a bar, a restaurant, a climate-controlled skybridge, and retail space. Additionally, Terra and Turnberry plan to add bike-sharing stations, new public spaces, promenades, and connectivity to public transit to the development.
The intentions for the property are to serve as the first major hotel that's accessible through the skybridge and adjacent to the Miami Beach Convention Center, according to the two developers.
Recommended For You
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
