The project will feature the first Maxim Lounge, an 8,000-sflounge that will feature an outside pool area, terrace and upstairsVIP pool. The lounge is the creation of a partnership of nightlifeentrepreneur Rande Gerber, founder of New York-based After MidnightCo., and Maxim Magazine. Gerber and production designer CharlesInfante will complete the lounge. Both the hotel and lounge willopen in November.

Robert Falor, president of the Falor Cos., tells GlobeSt.comthat the property was selected because of its prime South Beachlocation, which is directly on the water. "Between the location andthe fact that Maxim will be located there makes this a greatproject."

After completing the refurbishment project, the 417-unit RoyalPalm Resort located in South Beach will contain 130hotel-condominium suites ranging in size from 273 to 1,151 sf, 35poolside bungalows ranging in size from 451 to 466 sf and 252refurbished hotel rooms. Sales of the units, which will be pricedfrom the $400,000s, will begin next month. West Paces Hotel Group,which was founded by former president and COO of the Ritz Carltoncompany Horst Schulze, was hired to consultant on the project.