A Canadian real estate firm, Jesta Group, is transforming the Clevelander Hotel in Miami Beach into a high-rise. The company has purchased the property for $360 million and plans to build a 40-story tower with 460 condominiums.
The Clevelander is a historic hotel that has been a popular destination for tourists and locals alike for decades. The hotel is located on Ocean Drive, one of the most famous streets in Miami Beach.
Jesta Group's plans to transform the Clevelander into a high-rise have been met with mixed reactions. Some people are excited about the prospect of a new development on Ocean Drive, while others are concerned about the loss of a historic landmark.
The company has said that it will preserve the Clevelander's iconic neon sign and will incorporate some of the hotel's original features into the new development. However, the new tower will be a significant departure from the current hotel, which is only four stories tall.
The project is still in the early stages of development, and it is not yet clear when construction will begin. However, Jesta Group has said that it expects the new tower to be completed in 2026.
The rebuilding of the Clevelander into a high-rise is a sign of the changing landscape of Miami Beach. The city is becoming increasingly popular with wealthy investors, and there is a growing demand for luxury condominiums.
The project is also a reminder of the challenges facing historic landmarks in Miami Beach. As the city grows and changes, there is a risk that historic buildings will be lost to development.
It remains to be seen how the renovation of the Clevelander will be received by the public. However, it is clear that the project is a significant development for Miami Beach.
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