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CLIENT NEWS: Miami Beach board approves expanding Standard hotel

October 3, 2024

A star-studded group that includes billionaire developer Barry Sternlicht, architect Bjarke Ingels and hospitality CEO Miguel Isla Esteve secured approval to expand and renovate the Standard Spa, Miami Beach. Sternlicht, Ingles, Isla Esteve, Anthonio de la Rúa and Sebastian Sas are leading the redevelopment of the waterfront Venetian Islands hotel at 40 Island Avenue in Miami Beach. On Tuesday, the Miami Beach Design Review Board unanimously granted variances and a waiver that will allow the project to move forward. The[...]

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CLIENT NEWS: OFFICE REVIVAL Owners Upgrade Workplaces to Attract more Companies

September 9, 2024

Ask real estate insiders what the most challenged sector is now, and most would say office due to the advent of remote and hybrid work schedules. But that hasn’t kept some investors from going all in and funding pricey upgrades for office buildings to lure tenants willing to pay top-dollar rents. The strategy has already proven successful in some South Florida buildings. And while more office investors have taken notice, not all buildings are suitable for costly renovations. Most office[...]

CLIENT NEWS: Billionaire Barry Sternlicht plans $61M redevelopment of Miami Beach hotel

September 9, 2024

The Standard Spa, a Miami Beach two-story hotel co-owned by billionaires Barry Sternlicht, Peter Thiel and Marcelo Claure, may undergo a $61 million redevelopment that introduces new residential units and cuts the number of hotel guest rooms. Documents detailing the planned project at 40 Island Ave. have been filed with the city’s Design Review Board. A meeting to discuss potential design approval is set for Oct. 1. The Standard Spa was purchased by Starwood Capital Group Chairman Sternlicht in 2021.[...]

CLIENT NEWS: Barry Sternlicht proposes Bjarke Ingels-designed redevelopment of the Standard Miami Beach

September 6, 2024

A group of investors led by billionaire Barry Sternlicht is proposing a luxury overhaul and redevelopment of the waterfront Standard hotel in Miami Beach. Starchitect Bjarke Ingels of BIG is designing the project, which is planned for the 100-plus-key hotel at 40 Island Avenue and adjacent properties at 1 and 2 Farrey Lane. Kobi Karp Architecture & Interior Design is the architect of record. The proposal calls for redeveloping the east wing of the hotel into a five-story mixed-use building[...]

CLIENT NEWS: Miami Board Backs Large Apartment Complex Near Legion Park

September 6, 2024

Despite opposition from nearby residents, Miami's Planning, Zoning and Appeals Board backed zoning changes that will enable a developer to build more than 300 apartments near Legion Park. Less than an hour before midnight, PZAB members voted 5-2 to recommend that 2.58 acres of land at 615 N.E. 64th Terrace be rezoned from T5-R medium density multifamily residential to T6-8L restricted commercial. That would increase the maximum density to 150 units an acre from 65 units an acre. The zoning[...]

FIRM NEWS: Meet Miami-Dade’s go-to lobbyists for real estate developers

September 4, 2024

They add skyscrapers to Miami’s skyline and bring new single-family home communities into existence in southwest Miami-Dade. But they’re not the developers. No, they’re the developers’ hired guns: the lobbyists, land use lawyers and consultants who get projects off the ground and across the finish line. They know the ins and outs of municipal and county government and have tight-knit relationships with politicians and bureaucrats. They’ve mastered the art of cutting through red tape and diffusing controversies. Miami’s developers can’t[...]