Developer duo Tony Cho and Robert Finvarb plan to bring a "Millennial" driven hotel to Brickell. The two have closed on the purchase of the El Eden motel at 115 Southwest Eighth Street, 726 Southwest First Court and 110 Southwest Seventh Street for $18.4 million and they plan to redevelop the lot into a modern hotel design with expected costs of around $90 million. Arquitectonica will design the building which will ultimately be a 24 story, 250,000 SF mixed-use development that will include 263 hotel rooms as well as retail which will include health and wellness as well as a grocery store. The developers have applied for a demolition permit and plans will soon be submitted to the city for the redevelopment project.