Developer Ronny Finvarb is returning to the Miami Beach Design Review Board with plans for a new project in Sunset Harbour.
At next week’s meeting, the board will vote on plans for the developer’s mixed-use project at 1790 Alton Road in the Sunset Harbour neighborhood. Finvarb previously sought to build a hotel on the property, but the city commission unanimously passed a zoning overlay district that banned the construction of new hotels last year. Instead, it encouraged the development of new office projects.
Sobe 18 LLC, an affiliate of the Bay Harbor Islands-based Finvarb Group now plans a five-story building with 12 residential units, a rooftop deck with a private pool and bar, and restaurant space on the first and second floors, according to the plans. It’s unclear if Finvarb plans to rent the units out as apartments or sell them as condos. He did not immediately respond to a request for comment.
Many Sunset Harbour residents fought Finvarb’s plan to build a 36-key hotel on the 0.2-acre lot on Alton Road, which he purchased for $4 million in April last year.
The new overlay district increases the height limit for office buildings to 65 feet from 50 feet in the area bounded by 20th Street, Alton Road, Dade Boulevard and Purdy Avenue, and allows some residential units in office building projects. On top of banning new hotel development, the district also requires a conditional use permit for new projects of over 25,000 square feet.
In May, Finvarb Group and Chahine Investment Group secured $44.6 million in financing for their Thompson Hotel-anchored mixed-use project planned for 1685 Washington Avenue in Miami Beach.
Last year, Finvarb Group paid $10 million for The Landon Bay Harbor-Miami Beach, a 46-key hotel in Bay Harbor Islands.
Finvarb’s Miami Beach portfolio also includes the Kimpton Hotel Palomar South Beach nearby at 1750 Alton Road, the Residence Inn by Marriott South Beach and the Courtyard by Marriott South Beach.