Rebuild Miami-Edgewater

Site For Vib Hotel In Edgewater Faces Foreclosure

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.

Edgewater Getting New Hotel Called Vib

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. 

Rebuild Miami-Edgewater Buys Lot In Edgewater For $64 Million

The Purchased Site Highlighted In Red

A vacant lot located at the corner of NE 2nd Ave and NE 17th St. in Edgewater has just sold for $64 million. The land is just South of City Cemetery and the lot size is 7.4 acres.

The seller is BDM Miami and the buyer is Rebuild Miami-Edgewater. BDM Miami had plans to build Bayview Market before the recession came.