P3 Markets Leases Miami Gardens Land for Hotel Near Hard Rock

Miami Gardens’ City Council voted unanimously this week to lease a 3.5 acre city-owned parcel at 18600 Northwest 25th Avenue, about two miles from Hard Rock Stadium, to P3 Markets and Beckham Hospitality for a 127-room hotel to be called Beckham Hotel Miami Gardens. The deal runs 50 years and is projected to bring the city roughly $18.6 million in rent over that term.

Why it matters

The lease hands control of a city-owned site next to the Miami Dolphins’ stadium to a private operator for half a century, betting on game-day and concert traffic to fill rooms the market has not built on its own. No hotel brand has been attached to the project yet, and the deal also clears land for a second hotel and a performing arts center with a 1,200 seat theater on the same site. Phillip L. Beckham III, the Chicago developer leading the project, told the council, “We invest in communities that look like us.” The site sits in a city of 116,115 residents that is 59 percent Black, a demographic Beckham’s pitch leaned on directly.

The numbers

The lease covers 3.5 acres of vacant land the city has held for years without a tenant. P3 Markets and Beckham Hospitality will pay the city about $18.6 million in total rent across the 50-year term, an average of roughly $372,000 a year. The hotel itself is planned at 127 rooms, with a parking garage built alongside it to serve both the hotel and the adjacent performing arts center. The deal does not include a disclosed construction budget or a brand flag for the hotel.

What’s next

No construction start date or opening timeline has been made public. The council’s approval moves the project past the unsolicited-proposal stage that drew competing bids earlier this year, but permitting, financing and a hotel brand still have to follow before ground breaks. The American Developer will track permit filings tied to the parcel and any brand announcement as the project moves forward. For more on how South Florida cities are leveraging public land near major venues, see our South Florida coverage.