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Balfour Beatty has mobilized its operations to begin construction of the Grand Hyatt Miami Beach Hotel and Convention Center project in Miami Beach, Florida, according to a April 29 News. The construction service contract is worth $ 385 million.
MB Mixed Investment, a collaboration between the developers of South Florida Terra Group and Turnberry, awarded Balfour Beatty’s contract In January 2023. The project should begin that year, but so far it was expelled. On April 11, developers announced that they had acquired $ 392 million in construction financing For the project.
“With the funding of construction in its place and a strong public support behind us, we are eager to bring to life this reference hotel,” said David Martin, director general of land, and Jackie Soffer, president and CEO of Turnberry, in a statement of developers.
Once completed, the 17 -story hotel will serve as a central anchor of the Miami Beach Convention Center District, according to Balfour Beatty’s launch. The development of 996,130 square feet will include 800 rooms, conventions and meeting spaces and retail sale of the ground floor.
At Peak Construction, the project will have more than 500 employees, according to Balfour Beatty.
The end is scheduled for the end of 2027.
