Kerzner International, the global hospitality powerhouse behind the famed Atlantis Resorts, is setting its sights on Miami with the recent acquisition of a key parcel in Brickell – signaling a new chapter in the city’s ultra-luxury development boom.
The company purchased part of the Brickell City Centre from Swire Properties for a reported $45 million, is located at 9 Southeast Sixth Street, the site is proposed for a development including 350 condos,180 hotel rooms and ground-floor retail. While no formal plans have been announced, a Kerzner spokesperson said the company is “always exploring opportunities to grow its portfolio of ultra-luxury resorts.”
Swire’s shifting interests
Originally built in 2016, the mixed-use complex includes 560,000 square feet of retail and entertainment space, 780 residential units, a 263-key EAST hotel, 89 serviced apartments, multiple above ground parking garages and two levels of underground parking. Under Swire’s Henry Bott, Swire has gradually backed away from the 5-block development as its priorities shift elsewhere..
Focused now on its luxury condo project, The Residences at Mandarin Oriental on Brickell Key, the company has started selling off parts of the original complex. The Mandarin Oriental Hotel closed in April, and public access to Brickell Key has since been restricted as Swire moves forward with construction plans.
Other developers swoop in
In May, Miami-based residential developer the Melo Group purchased part of the original development for $211 million. Like Kerzner International, Melo has not disclosed specific plans for the Brickell Avenue parcel but appears confident in the site’s value.
“We have chosen this land in Miami’s urban core because we have witnessed its remarkable growth, continue to see its immense potential and appreciate how vibrantly it has evolved into a cosmopolitan city,” said Carlos Melo, principal at the Melo Group in a statement to the Commercial Observer on May 29.
In June, Swire sold its remaining 75 percent stake in the retail space and underground garages to the Simon Property Group for $512 million. Simon previously owned a 25 percent stake. Other notable transactions including Trinity Fund Advisors and Certares Real Estate Management’s $174 million purchase of the EAST Hotel in 2021 and Northwood Investors’ acquisition of Brickell City Centre’s office buildings for $163 million back in 2020.
Brickell’s expansion
Kerzner International joins a growing list of developers investing in the rapidly evolving Brickell District.
In 2024, the Federal Aviation Administration (FAA) approved plans for a 39-story mixed-use tower at 128 Southwest Seventh Street, according to Florida YIMBY. Earlier this year, the outlet also reported that Chicago-based Focus and Fox Group had partnered on a new residential project, The Brickell Starlite, which will rise in place of the now-demolished Starlite Motel.
If Kerzner moves forward with a resort in Brickell, it would mark the company’s first hotel project in the United States. Alongside its flagship Atlantis Resorts, Kerzner also owns the One&Only, Siro and Rare Finds brands.
