Plans for a $61 million redevelopment of The Standard Spa, a Miami Beach hotel co-owned by billionaire Barry Sternlicht, along with tech magnates Peter Thiel and Marcelo Claure, have been submitted to the city for approval. The proposed redevelopment aims to transform the property, introducing new residential units while reducing the number of guest rooms, and making significant upgrades to the overall structure.
Details of the Redevelopment
The project, located at 40 Island Ave., will be discussed at the Miami Beach Design Review Board meeting on October 1. The plans detail a major overhaul of the hotel’s east and west wings, aiming to modernize the facility and better integrate it with the surrounding Belle Isle neighborhood.
- East Wing Plans: The current structure will be replaced by a five-story building that will house approximately 50 hotel rooms and six luxury residential units, as well as 66 parking spaces. The top floor will feature private rooftop decks for the residential units, with restricted hours to limit disruptions to the neighborhood.
- West Wing Renovation: The number of guest rooms in the west wing will be reduced from 67 to 55, consolidating the spaces to create larger, more modern accommodations. Existing finishes throughout the structure will be upgraded to meet contemporary standards.