Miami voters said yes to Jungle Island new hotel

Miami voters approved by 59.2 percent a referendum on setting up a hotel at Jungle Island, on Watson Island. The hotel would have a capacity for 300 rooms and would be built in their current parking deck; a new garage will be constructed for the hotel and amusement park.

“This has been a huge team effort on behalf of ESJ Capital Partners, spearheaded by Micha Dubernard, with the Jungle Island team,” said Arnaud Sitbon, CEO of ESJ Capital Partners, the owner of Jungle Island. “We very much look forward to bringing this exciting project to life.”

The city of Miami has many hotels, but this is distinguished by its proximity to the Port of Miami and also by the family-friendly audience and animal inspiration as a theme. The hotel will have unobstructed views of Biscayne Bay.

Construction deadlines have not yet been announced, and the project still needs approval by the city’s administration.

In its website, Jungle Island explained what does a new hotel means for the city and its residents. In summary, this what it will bring:

• Jungle Island will make an additional contribution of $250,000 rent increasing to $1,150,000 or 5% of hotel gross sales, whichever is greater.
• They will subsidize $700K to the attached City park, Ichimura Miami Japanese Garden.
• They will also give $500K to the low-income housing fund.
• Substantial job growth.
• More attractions and amenities. In July they welcomed two new attractions, a vertical wind tunnel, and a water park. 

 

from BRG International - Feed https://ift.tt/2PSZAe3
via Beyond Realty Group