The Miami Beach City Commission will consider allowing the developer of the historic Raleigh Hotel property to add approximately 66,400 square feet to its luxury redevelopment project on Collins Avenue.

Commissioners are scheduled to hold a first-reading public hearing Wednesday, Oct. 14, on amendments that would increase the property's maximum floor area ratio (FAR) from 2.0 to 2.5, a 25% increase in permitted floor area.

The approximately 132,800-square-foot oceanfront property includes three historic hotels: the Raleigh, Richmond and South Seas, at 1775, 1757 and 1751 Collins Ave., respectively.

Developer Genghis Hadi and his New York-based firm, Nahla Capital, acquired the property in October 2025. The redevelopment, expected to require about $1 billion in investment, would restore the historic buildings and add a luxury residential tower.

The current development plans call for 52 condominium units and 60 hotel rooms, along with restaurants and other amenities. The number of condos is down from the 84 units approved in 2020.

Under the proposed amendments, the developer could add two floors to the residential tower, enclose a pavilion at the northeast corner of the property and expand usable space within the Richmond and South Seas buildings, according to Planning Board records.

Planning Board backs density increase

The Miami Beach Planning Board voted 5-1 on July 7 to recommend approval of the amendments, which would increase the site's permitted floor area to approximately 332,000 square feet.

The proposed regulations are narrowly tailored to qualifying oceanfront properties in the RM-3 high-intensity residential zoning district. Eligible sites must exceed 100,000 square feet and contain a contributing historic building as of Jan. 1, 2026.

City planning staff recommended approval but identified concerns involving traffic congestion, light and air, and the justification for additional development rights.

The proposal would also allow the residential tower to reach 200 feet, compared with the previously approved