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Rebuild-Miami Edgewater
Vib Hotel Site in Edgewater
Rebuild Miami-Edgewater LLC is facing a foreclosure lawsuit from a $34 million loan, according to The Real Deal.
The 7.4 acre site, located on the corner of NE 2nd Ave and NE 17th St was purchased for $64 million in January 2015 with plans to build a Vib Hotel. The Vib Hotel would be 10 stories with 200 hotel rooms.
Construction was supposed to break ground in November 2015.
Future site of the Vib Hotel
Developer Richard Meruelo of Rebuild-Miami Edgewater has announced that he will build a Best Western Hotel named Vib, according to The Miami Herald.
The 7.4 acre land was purchased in January for $64 million and was planned to be the Bayview Market before the recession hit.
The urban boutique hotel is expected to break ground in November of this year with plans to open in December of 2016.