Theater Wants Land Planned as Hotel for Its Own Expansion

MIAMI-A boutique hotel slated for the parking lot adjoining the historic Coconut Grove Playhouse will probably not be built. Instead, the theater is negotiating a lease on the state-owned land to accommodate its own expansion.

By Harold Kelman | Updated on October 10, 2000

MIAMI-It was four years ago tha Playhouse Developers, headed by Coral Gables attorney Manuel Alonzo Poch, successfully answered a bidding advertisement to develop the Coconut Grove Playhouse parking lot.

The plan was to build an eight-story, 210-room hotel on the parcel. The request for proposal notice went out after the Miami Department of Off-Street Parking decided not to develop the property itself.

When Playhouse Developers missed the construction start deadline, the ground lease was terminated. Now the theater is asking the state for a lease on the entire corner property at 3500 Main Highway and Charles Street.

The hotel backers allege the theater is attempting a land grab and may challenge the move in court. Nevertheless, a spokesperson for the Florida Department of State, which oversees the land, expects the ground lease with the theater to go forward.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

Unlimited access to GlobeSt and other free ALM publications
Access to 15 years of GlobeSt archives
Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
1 free article* every 30 days across the ALM subscription network
Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account? Sign In Now

NOT FOR REPRINT

© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper

Recommended Stories

Jacksonville Project to Transform 22 Downtown Acres

Barbara Ballinger | September 22, 2023

The first phase will bring to life $500 million of a bustling mixed-use development.

Landmark Properties Building Student Housing at UC-Berkeley

Jack Rogers | September 20, 2023

110-unit tower to be across the street from university campus.

Extended Stay Hotels Versus Multifamily

Vernon Beckford | September 07, 2023

It serves as a credible alternative to conventional multifamily housing.

Resource Center

A market recalibration in the multifamily real estate market is creating interesting opportunities for investors with extra capital. This white paper explores the forces shaping multifamily today and the opportunities ahead.

White Paper

Sponsored by Colliers

Navigating Marketing Dislocation in Multifamily Real Estate

A market recalibration in the multifamily real estate market is creating interesting opportunities for investors with extra capital. This white paper explores the forces shaping multifamily today and the opportunities ahead.

Browse More Resources ›

Download this case study and learn how a new investment firm was able to set itself apart and draw the interest of investors by deploying a tailored data model with advanced decision-making, portfolio analytics and AI tools.

Case Study

Sponsored by Cherre, Inc.

Differentiate Your Fund and Improve Performance With an AI-Powered Benchmarking Data Kit

Download this case study and learn how a new investment firm was able to set itself apart and draw the interest of investors by deploying a tailored data model with advanced decision-making, portfolio analytics and AI tools.

Browse More Resources ›

Manual renters insurance verifications? Inconsistent resident compliance? Exposures that threaten your assets? Say goodbye. This white paper explores the transformative wave in multifamily housing insurance -- Zero-Gap Renters Insurance -- and how it streamlines efficiency and offers superior risk management.

White Paper

Sponsored by TheGuarantors

Revolutionizing Renters Insurance for the Multifamily Housing Sector

Manual renters insurance verifications? Inconsistent resident compliance? Exposures that threaten your assets? Say goodbye. This white paper explores the transformative wave in multifamily housing insurance -- Zero-Gap Renters Insurance -- and how it streamlines efficiency and offers superior risk management.

Browse More Resources ›

GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
Exclusive discounts on ALM and GlobeSt events.
Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now

Copyright © 2023 ALM Global, LLC. All Rights Reserved.