Hyatt and Miami, FL-based Gencom have formed a venture with the goal of redeveloping downtown Miami’s Hyatt Regency Miami, improving access in and out of the urban core and activating a key piece of Miami’s riverfront.

The venture proposes a privately funded redevelopment that will comprise a reimagined Hyatt Regency hotel with meeting space, more than 1,500 residential apartments and open-air public space along the Miami River.

Plans for the site include three towers. Towers one and two, rising 61 stories, will include 682 multifamily apartments, a 615-room Hyatt Regency with over 100,000 square feet of meeting space, and 264 serviced apartments. Tower three, which is anticipated to include 860 residential apartments, will become one of the tallest buildings in South FFL.

The towers will sit atop a podium structure housing 190,000 square feet of Class A meeting space, which represents a 50% expansion of that currently within the James L. Knight Center.

If approved by voters in November 2022, construction on the Hyatt Regency Miami site is expected to begin in 2025.