Jesta Group to Redevelop Iconic Miami Beach Hotel into Affordable Housing

The Jesta Group, which owns the Clevelander Hotel and Bar on Ocean Drive in Miami Beach, has announced plans to redevelop the property into a high-end restaurant and affordable housing units.

The new project: The proposed development would include 40% affordable housing units and a maximum height of 30 stories. The plan is allowed under Florida's Live Local Act, which is designed to incentivize affordable housing.

The vision: "Since purchasing the Clevelander Hotel and Bar a few years ago, we have been proud to operate this legendary and iconic establishment in South Beach," said Anthony O'Brien, the group's senior managing director. "Although we are happy to continue operating as we have, some have expressed a desire that we change our business model at the property."

The aesthethics: The new development would maintain the historic Art Deco facades of the hotel and bar. The Jesta Group is expected to submit the plans to the city of Miami Beach soon.

The proposed redevelopment has been met with mixed reactions. Some residents have expressed support for the project, saying that it would provide much-needed affordable housing in the area. Others have expressed concerns about the height of the development and the impact it would have on traffic.

The city of Miami Beach will need to review the plans and decide whether to approve the project.