The hospitality firm Aman, one of the largest and most exclusive luxury resort and hotel developers in the world, is setting up major shop in South Beach.
The two-building Aman Miami project, which will include an Aman hotel and Aman-branded residences, will be built on the former site of the Versailles Hotel at 3425 Collins Ave. in Miami Beach. The size of the buildings, the number of rooms and condos and the architects who will design the project have not yet been determined. The financial terms of the project were not disclosed.
The project will be the final piece of the Faena District, a cultural hub stretching along both sides of Collins Avenue from 32nd to 36th streets that was launched in 2015 by Argentine developer Alan Faena. The district is home to the Faena Hotel Miami Beach, the art and event venue Faena Forum, the prestigious Faena House condo tower, and numerous restaurants and bars.
The Aman Miami is a joint venture between the Miami-based OKO Group, the real estate firm developing the luxury condo towers Missoni Baia in Edgewater and Una Residences in Brickell, and Access Industries, a private investment firm with $20 billion in holdings spread over six million square feet around the world, including the Faena Hotel Miami Beach.
Aman Miami will be the fourth U.S. location for the Aman Resorts International group, which is headquartered in Switzerland and operates hotels and villas throughout Asia, Europe, Africa and the Caribbean.
An Aman New York hotel and residences tower is under construction at the Crown Building in New York City and scheduled for completion in late 2020.
The two other U.S. locations are the Amangani Luxury Resort in Jackson Hole, Wyoming, and the Amangiri Resort in Canyon Point, Utah
“Many Amanjunkies have asked me to build another Aman in the U.S., particularly in Miami and Los Angeles,” said Vladislav Doronin, president and CEO of OKO group and Aman. “Miami has a vibrant and lively culture, a growing arts scene, good restaurants and fantastic weather. It takes the same amount of time to fly to Miami as it does to drive to the Hamptons from New York City. I’ve been looking for a location in Miami for some time. This part of Miami Beach is the best fit for an Aman hotel and Aman-branded residences.”
Doronin said another factor in the decision was the growing exodus of high-net worth people from New York and the northeastern U.S. to Miami.
“The demand for the Aman New York residences we have received on the project has given us further confidence, and Miami is a natural fit for an urban Aman destination,” Doronin said. “Many Aman guests and Aman residence-owners tell us Miami is a location they want to spend more time and have expressed interest in seeking an Aman-branded home here. We see a growing appetite for luxury residences with many people relocating to Miami from other U.S. cities as well as globally.
Jonah Sonnenborn, managing director and head of Real Estate at Access Industries, said in a press release that “transformational neighborhood investment” is a hallmark of the company’s investment strategy.
“The Faena District is now a renowned hospitality and lifestyle destination, and positively contributes to Miami Beach. Versailles expands this mission even further, and we are thrilled to find a partner who shares [Access Industries founder Len Blavatnik’s] insight. OKO and Aman are the ideal partners to complete the vision for the Faena District.”
Miami Beach Mayor Dan Gelber agreed, saying that the inclusion of Aman will allow the Faena District to fulfill its potential.
“It’s very exciting,” he said. “They are one of the top-tier hospitality companies in the world. Having them on our beach is incredible.”