Ocean Terrace project wins final approval for condo, hotel and $15 million park in North Beach

Miami Beach gave the final approval on Monday for an oceanfront, twoblock project in North Beach, signaling a wave of change for the community.

The Miami Beach Historic Preservation Board signed off on the Ocean Terrace Holdings redevelopment plan along Collins Avenue between 74th

Street and 75th Street. Ocean Terrace Holdings principals Sandor Scher and Alex Blavatnik are behind the long-planned project.

On tap are a five-acre public park, a 75-unit residential building and a 127room hotel. The 20-story residential building will be built alongside the historic Broadmoor hotel, which will be incorporated into the new hotel project.

Construction is anticipated to start on the park during the third quarter of 2022, according to Scher. Work will begin afterward on the hotel and residential components.

“We look forward to getting to work on our long-awaited project, which will restore the street-level historic architecture, transform Ocean Terrace into a lushly-landscaped oasis and give new life to this cherished beachfront,” Scher said in a statement.

The project sparked controversy when it was introduced to Beach voters as a ballot question in 2015 since it entailed demolishing 11 of 13 historic buildings along Ocean Terrace. After voters rejected the plan, the developers revised their project. City commissioners in 2019 agreed to allow the condominium to reach up to 235 feet, instead of the maximum allowable height in the area of 125 feet, in exchange for the $15 million park.