US-based real estate owner and developer Shvo has secured approval from the Historic Preservation Board (HPB) of the City of Miami Beach for the development of the Raleigh masterplan in Miami Beach, Florida.

The three-acre master plan involves the restoration of The Raleigh Hotel, South Seas and Richmond hotels located on Collins Avenue and 18th Street in Miami Beach.

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The plan also includes the construction of a new 175ft oceanfront residential tower behind the Richmond and South Seas.

By fully restoring the three properties, the Raleigh Master Plan will unify the hotels as one site to operate them as a luxury hotel and condominium building.

Shvo chairman and CEO Michael Shvo said: “The Raleigh Hotel is the crown jewel of Miami Beach.

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“This approval marks a new milestone in the partnership between SHVO, South Beach and the surrounding community. SHVO will continue to honour Miami’s rich history and culture. We vow to play a significant role in the city’s continued growth and transformation.”

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Submitted to the board in April 2020, the masterplan will restore The Raleigh Hotel and its pool, as well as the frontage of the Richmond and South Seas Hotels.

Over the past 18 months, Shvo worked with the HPB to ensure that the proposed plan would maintain the original façades of the building while effectively restoring the streetscape.

As part of the plan, the firm will remove the penthouse floor that was added to The Raleigh in 1961and restore the original façades of the South Seas and the Richmond hotels.

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The Raleigh Assemblage Beachfront in Miami, US. (Credit: SHVO)