Miami Beach residents will soon cast their vote on whether or not to approve building a hotel next to the convention 
center, which will soon undergo a large renovation. The proposed hotel is intended to accommodate visitors to the convention center and will be built on land leased from the town to a firm that would pay around $11 million annually. The project would be a huge revenue boost for residents and on Thursday the city commission voted 6-1 in favor of the hotel, with Commissioner Jonah Wolfson in opposition. Wolfson fears that this new building would increase traffic problems for the town, however a study reviewed at the meeting predicts minimum transit impact. The study found that the traffic in the city would not get worse as the result of more conventions but rather remain in line with the traffic in the area due to the hotels proximity to the center, however Wolfson questioned the accuracy of that finding. Although he was in opposition the majority of the commission supported the hotel because it made sense in conjunction with the convention center renovation. It seems silly in their opinion to spend $500 million on improving the building only to then oppose a hotel that would operate in conjunction with it.
Miami beach voters will have the final say regarding the fate of the 800-room hotel, and only with 60 percent approval can the plan move forward. This could be a huge revenue boost for the city, and further elevate the demand for Miami Beach real estate on the market. Between the renovation of the convention center and the raising prominence of the area South Beach is quickly becoming a desirable luxury destination. Now is the time to invest in the area, so if you would like to see all the amazing properties on the market contact a RE/MAX agent today!