YOTEL, which was approved in July by Miami's Planning & Zoning Department, will launch as the first East Coast location of their new YOTELPAD concept. Located at 227 NE 2nd Street in Downtown Miami, the YOTELPAD will be a 29 story tower designed by Stantec which will include both 208 residential units and 250 micro-sized hotel units. The building will be split with the residential units on top of the hotel units. Residential units come in 425 SF studios, one-bedroom and 700 SF two-bedroom floor plans; pricing starts at $250,000 and units will come fully furnished and move-in ready. Residential units will have the ability to be rented for short term via the hotel's rental pool. The YOTEL is being developed as a joint venture between AQARAT, a Kuwaiti real estate company, and Aria Development Group.
“Downtown Miami is emerging as a high-energy place to live, shop and work. With YotelPad Miami, we are meeting the strong demand for service-oriented, urban-chic apartments. In addition, owners have the unique opportunity to participate in a short-term rental program. Together with the Yotel brand, we are delivering a thoughtful, value-luxury experience in a dynamic location,” said David Arditi, Principal of Aria Development Group.