The owner of a historic Dade-Commonwealth building in downtown Miami, Dream Downtown Miami LLC., has been given the green light to add 10 floors to the building. The developer plans to convert the building into a hotel that will feature a 169 room facility run by OD Hotels of Spain. Originally built in 1925, the 17-story building was shortened a year later to just seven stories after suffering damage from a hurricane. Dream Downtown Miami paid $9.2 million for the asset, which is located at 139 N.E. 1st Street.
