Today, Italian architect and designer Pierro Lissoni debuted his newly-approved design plans to renovate the now-defunct Miami Heart Institute into a residential building composed of luxury condos. The project, which still does not have a name, started earlier this year when Lionheart Capital bought the seven-story medical facility from Mount Sinai Medical Center in February for $20 million, with the intention of repurposing the property into 154 luxury waterfront condos and building nine villas on an adjacent parking lot. “I see what’s happening here at the Miami Heart as a huge opportunity for all of us in Miami Beach,” said project developer Ricardo Dunin, who also developed The Mutiny and the Sonesta Hotel & Suites in Coconut Grove. “As the world is changing and the market is changing it opened the opportunity for us to do what we like doing, which is a very upscale residential project.”

Lionheart hired Italian architect Piero Lissoni in association with local design firm ADD Inc. to create the vision for their residential project. The Miami Beach planning board has just approved zoning changes required for the firm to begin development on the proposed design. Lissoni’s design plans, released today, appear to hearken back to the building’s original Mediterranean architectural style as the Mediterranean Revival King Cole Hotel.

The design plan involves removing the structure’s terracotta roofing and cutting out roughly 73,000 square feet of the hospital to open up the view, create courtyards, and give the building an overall svelte new look. Two surface parking lots will be developed with single family homes, and a three-way intersection will be cut down in size to create a public park and front yard. Lush greenery will be added to the existing parking garage and a pristine rooftop pool will look out onto the water.