The owners of Miami Beach’s Lord Balfour hotel have hired Amicon Construction to head their expansion plans.
Eidico, the firm formed by the Argentine developers who own the Lord Balfour, is planning to erect a separate four-story building with 17 rooms next door to the existing hotel at 344 Ocean Drive. Included in that project are two rooftop lounges and sauna decks, plus a pool.
Amicon was also the construction firm behind the Lord Balfour’s multimillion-dollar renovation in 2013. The 1940’s-era hotel was named after Arthur James Balfour, a former British prime minister.
Miami-Dade County property records show that a company called Green Comet purchased the Art Deco hotel at 350 Ocean Drive in 1999. A Miami Herald article about the Lord Balfour’s renovations said the company paid $13 million for it.
Two years after that initial purchase, Green Comet paid $1.44 million for the neighboring vacant lot where the owners now plan to build their expansion.
A news release from Amicon said construction will begin in September, with completion scheduled for this fall.
Amicon’s Internship Program Continues to Grow
Surfside collapse changing South Florida’s condo market
11 Ways To Find New Opportunities For Vacant Commercial Spaces
Potential redevelopment for condo buildings
Condo collapse could reshape Miami’s real estate market