Developer 745 James LLC has secured a $21.5 million construction loan for a boutique hotel in Miami-Dade County. Sanctuary Hotel would measure five stories above grade and offer 90 rooms, occupying the former site of Sanctuary South Beach Condo.
745 James LLC purchased the now-demolished condominium for $14.41 million in 2019, securing approval for the hotel a year later. General contractor Buslam Company Partners has broken ground on the project, which will occupy a 15,000-square-foot site, located a block from the Miami Beach Convention Center.
The venture would offer 90 rooms. Image from the SFBJ
In 2020, the South Florida Business Journal reported that rooms at Sanctuary Hotel would span 222 to 276 square feet each, spanning the building’s second through fifth floors. Amenities would include an on-site restaurant and a rooftop swimming pool. It’s unclear whether these plans have remained unchanged.
Revuelta Architecture designed the mid-rise commercial venture. The Miami-based firm was also the architect behind Four Seasons Private Residences Coconut Grove, the hotel brand’s first standalone venture in the state. The 20-story tower is slated to offer 70 homes, four of which are luxury penthouses. Constructions expected to start on that venture within 12 months.
Our sources do not indicate when Sanctuary Hotel is expected to reach completion. Yet, they do indicate that the hotel will be located at 1745 James Ave., Miami Beach, FL, 33139, in Miami-Dade County.
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