WRE News: RH Proposes $170 Million Transformation of Nikki Beach

Miami Beach, FL – September 11, 2023 – RH, formerly known as Restoration Hardware, is vying for a piece of Miami Beach’s thriving restaurant and entertainment scene, with a bold plan to invest between $150 million and $170 million in the redevelopment of Nikki Beach Miami. The project, named RH Beach House at One Ocean Drive, features two low-rise buildings covering 16% of the 180,000-square-foot site, scenic beach promenades, a sizable public park atop an underground parking structure, and an elevated podium hosting a public sculpture garden. To address concerns from nearby condominium residents about noise and traffic, RH is proposing limited hours of operation. The proposed RH Beach House will also feature a bathhouse and spa, three food and beverage venues, a design studio, a library, and art galleries. The club, currently managed by Jack and Lucia Penrod, is a city-owned establishment. RH is one of four contenders seeking to secure a new 30-year lease to operate this sought-after venue on 1 Ocean Drive in Miami Beach, once the current lease expires in 2026.