New York based Helm Equities recently signed an agreement with 21c Museum Hotels which will add the distinct art gallery/ hotel to its 325,000 sq. ft. mixed use project at 220 N.E. 43rd St.
Helm acquired the site in 2014 and has been working with Craig Robins’ Dacra, master developer for the Design District on plans.
South Florida Business Journal reported that Dacra has “partnered with LVMH and other major investors to redevelop the Design District and open luxury retailers there.” The Institute of Contemporary Art is currently under construction there.
21c Museum Hotels’ model features art displays through the hotels in museum and gallery settings, in addition to on the walls and inside the rooms.
The paper quotes Helm Equities principal Eyal Horovits as saying this is the partnership he was looking for. “We are looking to create something magnificent here. It’s much more than just a hotel. You walk in and there are art spaces and galleries and consent show, events and curating.”
The 135-room hotel will include food and beverage, a rooftop pool and a sculpture garden. Guests will also have the opportunity to interact with the artists.
The hotel would round out 70,000 sq. ft. of retail and 85,000 sq. ft. of office space.