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Sunday, May 27, 2018

A new and attractive hotel will debut on Midtown Miami

Por Damian

The new and luxurious Hotel Hyde Suites and Residences will debut in Midtown Miami next month, a sign of what seems to be the beginning of a transformation of the downtown Miami corridor, where until last year there were no hotels. In addition to an apartment and hotel project, this new structure talks about the growth of the area known as Midtown, between the neighborhoods of Wynwood and Design District.

Until last year, the area had no hotels, only a handful of motels, although it was growing as a destination for retailers and real estate. In the last eight years, the population of Midtown has increased by approximately 50 percent, according to the Development Authority of Downtown Miami.

Then, in April 2017, a 155-room Hampton Inn opened at 3450 Biscayne Boulevard, the first major hotel in the area. In June of this year, the 32-story Hyde, with 60 suites and 410 luxury apartments, should be inaugurated at 3401 NE 1 Ave. The project is the second of apartments and hotel of the Hyde brand, developed by The Related Group and the company sbe, the team behind the 42-story Hyde in Hollywood Beach. Dezer Development also worked in Midtown Hyde.

"Midtown is a very interesting area", said Carlos Rosso, president of the apartment division of The Related Group. "It's a consolidated neighborhood with big sidewalks, good prospects for retail, intermediate-priced stores and supermarkets make it a good neighborhood to live in. That's why people keep buying and moving to Midtown."

And they have also started to travel to the place. According to the Greater Miami Convention and Visitors Bureau, which began tracking the visits to Midtown in 2015, nearly 4 percent of all visitors to Miami-Dade spent the year stopped in Midtown, the neighborhood with the highest figure. Its neighbors, Wynwood and the Design District, also saw an increase. Almost 17 percent of the visitors were Wynwood and 5.6 percent visited the Design District.

The place is very attractive for developers. Midtown offers travelers connections to downtown Miami and Miami Beach, but at a lower price. For the Hampton Inn, owner Bo Ashbel said those two factors are paramount for attracting visitors. "It's a very convenient place to stay in. They're starting to realize that there's a lot more to offer and that it has some price advantage, to stay with us instead of Brickell, which is very expensive, and we have a new product", he said. Rooms at the Hampton in early June, for example, start at 155 dollars.

Ashbel is betting on the success of Midtown, so much so that he is building a second hotel, an AC Hotel by Marriott, with 153 rooms, which is under development and which is due to open in the fall of 2019. Ashbel said that other developers are in talks to build two or three more hotels in Midtown.