Capital City Consulting led the team for the Terra/Turnberry Joint Venture to secure a $75 million dollar grant to commence the construction of the Miami Beach Convention Center Hotel.   

“There is no stronger team to deliver this project than Terra and Turnberry,” said Brian May, Managing Partner of Capital City Consulting’s Miami Office. “We are grateful the Miami-Dade Commission, Miami Beach Commission and Miami Beach Redevelopment Agency (RDA) have approved $75 million from RDA redevelopment funds to accelerate construction of the Miami Beach Convention Center Hotel.  There is nothing more important to our tourism economy.”  

 The County, City and RDA previously invested in Miami-Dade's standing as a major events destination when it supported the renovation of the Miami Beach Convention Center nearly ten years ago. At that time, the City and County envisioned an adjacent Convention Center Hotel as a critical component of an updated Convention Center capable of attracting the world’s best conventions and conferences.  Miami Beach voters approved plans for an 800-room hotel in 2018.

Since then, the Terra/Turnberry development team has invested more than $25 million to complete plans for the hotel, ready the property with site work and infrastructure improvements, and obtain construction permits.  Despite the continuation of rising construction costs and constrained capital markets since the pandemic, the project is now shovel ready and expected to begin construction in February of 2025.    

Financial support from the RDA, coupled with more than $500 million in private financing raised by the development team, will ensure the expeditious delivery of this important project.  The Hyatt-branded Miami Beach Convention Center hotel is expected to generate $70 million for the RDA and hundreds of millions more for the City and County.  By making this commitment, the RDA will fast-track a project that will unlock new tax revenues for the City, County, and schools, create thousands of jobs for locals, and solidify Miami Beach’s and Miami-Dade County’s standing as a best-in-class destination for conventions and events.