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Len Blavatnik

Neglected strip of Miami Beach gets glamorous makeover

The beachfront Faena Hotel has a lobby lavish enough to greet a pharaoh, with blinding sunlight bouncing off oversized gilded columns. In the distance, a golden sculpture of a mammoth's skeleton is framed by palm trees, the aqua blue sky and gleaming Atlantic Ocean.

The hotel is the centerpiece of Faena District, a once-neglected strip of Miami Beach where decaying structures and empty lots have given way to opulent hotels, condos and a performing arts center. The $1 billion project, which began in 2013, was developed by Argentine hotel magnate Alan Faena in partnership with billionaire Len Blavatnik. The cluster of buildings is located 2 miles north of South Beach, on a narrow...

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