Ritzing Up An Old Hospital

The long-shuttered Miami Heart Institute is slated to be partially demolished and then renovated into The Ritz-Carlton Residences Miami Beach by star designer Piero Lissoni. By the way, Curbed had this story eons ago, even coming up with a name for the place that everyone involved seems to have taken to heart (pun intended). Real estate investor and developer Lionheart Capital signed a 30-year licensing and management agreement with the swanky hotel brand. Maintenance is going to be an astronomical buck per square foot (ie., $3,000 per month for a 3,000-square-foot spread) even though the place is probably haunted. [Miami Herald; Curbed] —Emily Schmall