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Rendering of the Grand Hyatt Miami Beach Hotel – Image Credit Turnberry
- Terra and Turnberry, two South Florida real estate development firms, have secured $392 million in construction financing from TYKO Capital to advance the development of the Grand Hyatt Miami Beach.
- The 800-room, 17-story property, slated for completion in late 2027, will be an anchor for Miami Beach’s Convention Center District. It will provide new luxury accommodations and public spaces, as well as improved connectivity and infrastructure upgrades.
South Florida real estate firms Terra and Turnberry have secured $392 million in construction financing from TYKO Capital, bringing the Grand Hyatt Miami Beach development closer to reality. The 800-room, 17-story hotel is set to become a landmark in Miami Beach’s Convention Center District, offering luxury accommodations, new public spaces, and enhanced connectivity and infrastructure.
The financing will facilitate the project’s groundbreaking, which is scheduled for completion in late 2027. This follows the completion of pre-construction site work and comes after the project was awarded a $75 million grant from the Miami Beach Redevelopment Agency in late 2024.
Located strategically at 17th Street and Convention Center Drive, the Grand Hyatt Miami Beach is set to provide seamless access to the newly renovated Miami Beach Convention Center. The hotel aims to be the first major convention hotel in Miami Beach directly adjacent to and connected with the Miami Beach Convention Center, thus improving the city’s ability to attract major national and international clients.
“The Grand Hyatt Miami Beach is a game-changer for major meeting and event planners and a transformative addition to our convention center ecosystem,” said David Whitaker, President & CEO of the Greater Miami Convention & Visitors Bureau.
The hotel design, by Arquitectonica’s Bernardo Fort-Brescia, includes 12 floors of guest rooms, including 52 suites with sweeping views of Miami Beach, and four floors of meeting and ballroom spaces. Guests will have access to a resort-style pool deck with panoramic city views, a signature restaurant, and a lobby lounge and bar.
The hotel will also introduce new public spaces, pedestrian-friendly promenades, bike-sharing stations, and connectivity to public transit, in line with Miami Beach’s broader sustainability and resilience goals. The project, which was overwhelmingly approved by Miami Beach voters in 2018, is a key component of the city’s efforts to transform its Convention Center District into a more dynamic, walkable, and economically vibrant hub.
