Also in Miami, developer Habitat Group recently started demolition of two apartment buildings near the downtown to make way for three interconnected towers of homes and hotel rooms. Known as the Smart Brickell project, it is designed to have 150 hotel rooms and 170 condos, said Santiago Vanegas, founder, CEO and president of Habitat Group.
More amenities are usually offered at a hotel than in a standard condo, so combining the two gives residents the best of both worlds, Vanegas said.
“You could call the front desk to the hotel for room service from the coffee shop or the bar,” Vanegas said of the condo residents.
Vanegas said some buyers might be hesitant to buy in a condo or apartment building with a hotel component because they feel they can lose privacy to tourists who share the amenities. He said that concern is usually abated with private elevators, and security systems to ensure that the condos remain sealed off to hotel guests.
“They love it,” he said of the condo residents. “That’s the market. It’s an alternative.”His condos will start in the $300,000s.