Super Developers

What better way to honor some of the pillars of the real estate industry than by having a special section dedicated to them in our Super Bowl issue?

Below are some of the individuals who are now actively reshaping Miami-Dade County with brand-new residential, commercial and mixed-use projects. We say “some” because there are so many more than just the few we have listed below. South Florida still remains one of the most desirable places to live. As such, the demand for new projects is ever present and ever growing.

However, we feel we have compiled a fairly diverse and accurate list of some of the influential and potent players in South Florida real estate development. So for the tens of thousands of Super Bowl visitors, as well as our loyal local readers, we give you the Super Developers.

Jorge Perez

For the Related Group of Florida, there is no such thing as a real estate market slowdown. Even now, the Related Group is actively forging partnerships throughout South Florida and beyond. Among its latest projects: 300 Grove Bay Residence, three condominium towers, the tallest 410 feet high, that will be constructed beside Mercy Hospital in Coconut Grove. The 300 condos will go on the market for between $3 million and $15 million, according to a recent Miami Herald article.

Founded in 1979 by Chairman and CEO Jorge Perez, the Related Group has constructed more than 55,000 condos and apartment buildings all over Florida. Last year, Related racked up sales of more than $3.2 billion while its real estate portfolio assets grew to more than $10.7 billion. Perez has been hailed by his peers as being on the cutting edge of South Florida’s urban growth. Some of his better known projects are Portofino Tower, Murano at Portofino, Murano Grande in Miami Beach and CityPlace in West Palm Beach. In Sunny Isles Beach, Perez partnered with Michael and Gil Dezer and Donald Trump to develop the ultra-luxurious Trump Towers.

A collector of Latin American art, Perez is on the board of directors of the Miami Art Museum and is part of the fundraising campaign for the construction of Museum Park in Bicentennial Park. Perez is also vice chair of the Miami-Dade Cultural Affairs Council, director of the Miami Film Festival, a member of the board of the Downtown Development Authority and a member of the University of Miami’s Board of Trustees. UM’s Architecture Center has been named after Perez, while the Miami Wellness Center has been named after Perez and his wife, Darlene.

Edgardo Defortuna

After many years serving as exclusive broker and marketing agent for South Florida’s most prestigious properties, Edgardo Defortuna has spent the last few years building his own residential development portfolio, which began with the $290 million Jade Residences at Brickell Bay.

Within the past three years, Fortune International has opened doors or announced plans for a multitude of luxury residential and mixed-use developments in South Florida. They include: Le Meridien Sunny Isles Beach, a 26-story condo hotel that opened in 2005; Jade Beach and Jade Ocean, a pair of 50- and 53-story Sunny Isles Beach towers designed by renowned architect Carlos Ott and set for completion in 2008; Artech, a partnership with Shefaor Development to build an architectural masterpiece designed in the shape of an elegant ship in Aventura; The Ritz-Carlton Club and Residences — South Beach, a joint venture with Lionstone Development that will include restoration of the Seville Beach Hotel and construction of two new 17- and 20-story towers; Sonesta Resort and Residences — Key Biscayne, a new five-star hotel and condominium resort on 10.5 acres of prime oceanfront property; The Ireland’s Inn project, a partnership with the Fairwinds Group, owners of the Fort Lauderdale-based Ireland’s Inn, which will feature a five-star condominium-hotel and residential tower; The Bridgewater, a triangular-shaped 118-unit condo in North Bay Village; and Old Cutler, a waterfront town and planned neighborhood in South Miami.

As head of Fortune International, Defortuna’s company logged more than a billion dollars in sales last year. The full-service real estate development and brokerage firm specializes in development, financing, developer representation, sales and marketing, construction management and hospitality. The company’s extensive international network spans Florida, the United States, Latin America and Europe.

Michael Lerner

At a time when inventories of unsold condominiums are swelling and some developers are folding up their tents, Michael Lerner remains committed to the Florida real estate market — and he’s putting his money where his mouth is.

Lerner’s company, MCZ/Centrum Development, recently plunked down $163.5 million to purchase the South Tower of the Flamingo South Beach, a 562-unit waterfront property on Miami Beach. MCZ also holds an option to purchase the remaining two towers at the 1,688-unit rental community. When the company executes the option—and purchases the towers for $436 million—the deal will become the largest multifamily transaction in Florida history, according to CB Richard Ellis Inc., which brokered the deal.

Despite all the talk from local pundits about the slowdown in the conversion market, Lerner went ahead with his plans to convert the Flamingo South Beach--and demand for units at the hot high-rise on the shores of Biscayne Bay has been brisk, with nearly all the units already spoken for.

“The market is still strong, particularly in Miami Beach and Orlando,” says Lerner. “We’ve had good steady business.”

MCZ/Centrum Development, a Chicago-based joint venture between MCZ Development Corp. and Centrum Properties, both prolific developers, entered the Florida marketplace just three years ago. In that time, the company has amassed a portfolio worth $2.6 billion and completed four condominium conversions, including the largest conversion ever in Broward County. MCZ/Centrum Development currently has seven conversion projects under development or for sale, including:

Flamingo South Beach Tower: The perfect location for people who want to be close to the action and glitz of South Beach, the Flamingo is just steps away from Lincoln Road, the ocean, world-class dining and hip boutiques. Residences are available for immediate occupancy at prices starting from the $300,000s.

Sian Ocean Residences & Resort: A multi-phase enclave with luxury condominium, condo-hotel and beach club components, Sian’s nine acres stretch from the Intracoastal to the ocean in beautiful Hollywood Beach. Condo prices start in the $450,000s; the condo-hotel units are priced from the $250,000s.

Parc Central East: Located in prestigious Aventura, the spacious condominiums in this 20-story tower are priced from the $300,000s.

Serenata Sarasota: A new, 240-unit community in a lush Gulf Coast setting, Serenata is an award-winning gated complex with units priced from the $170,000s.

Mirabella: Situated in the middle of all the magic that Orlando offers, the Tuscan-inspired Mirabella comprises 304 units—some with attached garages—at prices starting from the $180,000s.

The Palms Club: Just a few miles from downtown Orlando, this tranquil garden-style community offers easy access to entertainment, shopping, restaurants and employment centers. Prices start from the high $100,000s.

Serenata MetroWest: Just a quick drive from Universal Studios, Serenata’s 398 units lie among shimmering lakes, warm breezes and palm-lined cul-de-sacs. Prices for the one- to four-bedroom units start in the $150,000s.

Why has MCZ/Centrum been so successful in a challenging market? Before purchasing an apartment project, Lerner looks for location—waterfront property is most desirable—as well as quality construction.

“You try to find a place where people would like to live,” he says. “And we try to give people great value.”

Lerner says the company is always evaluating new opportunities but is most focused on Miami Beach, an international destination with strong demand, and the Orlando area, where job growth is strong. The company is also exploring opportunities in Sarasota as well as other locations.

“People are still moving to Florida, and the fundamentals are still there,” he says. “The climate is good, and a lot of people want second homes. There are a lot of compelling reasons why people move to Florida.”

Although Lerner admits that the company “needs to work a little bit harder now” since the slowdown in the national condominium market, he says that condominiums offer tremendous value to buyers.

“It’s a great opportunity for people to buy now,” he says. “You can buy at prices that are below the peak, and the fundamentals are still there — Florida is still a great place to live. It’s a great time to buy.”

Andi Greenwald

Native Floridian Andi Greenwald is the president and founder of Andi Greenwald Development Group. Her work on historic Miami Beach properties has set the standard for luxury renovation. Because of her commitment to architectural integrity and attention to detail, part of her job includes seeking out gifted colleagues such as designer Rory Gershon, landscaper Michele Hill, architect Blake Thorson and contractor Robert Seraphin to help create a unified aesthetic. Recent projects include Bali, a waterfront mansion on North Bay Road, and a new construction home on the Miami Beach Golf Course. Among her other notable renovations are Tribeca, Santa Monica, Metropolis, Coconut, Cabana and the Pancoast home on Pine Tree Drive. The Miami Design Preservation League has honored her tasteful renovations with two awards for excellence. She also holds a key to the city of Miami Beach and received the “Doc Baker” award from the Miami Beach Chamber of Commerce. She attended the University of Miami and is sister to fellow developer Scott Greenwald.

Brian Street

Boca Developers is the largest privately held condominium builder in the state of Florida, with more than 16,000 units and $9.5 billion dollars in its portfolio.

At the helm of the real estate giant is President Brian Street. He got a taste for the real estate business when he was the head of construction for a textile company in South Africa. Street formally entered the industry when he founded the Canada-based Ottawa West Development Ltd. in 1989. By 1992, he formed Boca Developers with partner James Cohen. Their aggressive land acquisitions quickly made them the most prolific developers of luxury waterfront condominiums on the coast. The company prides itself on being Florida’s most popular condominium builder, and has developed many highly sought locations between the Keys and Daytona Beach. Among their properties are the Marina Grande condominiums in North Miami Beach, Key Largo and Riviera Beach; the Peninsula and Hampton South condos in Aventura; and the New River at Las Olas complex.

Camilo Alvarado Boshell

Camilo Alvarado Boshell was working in Europe when he set his sights on South Florida in 2002 and developed Coral Sea View, his first Miami building.

But long before journeying to Florida, Boshell’s pursuit of architecture led him from Colombia to New York, where he received his bachelor’s degree in architecture from Pratt Institute. During that period he attended Pratt’s Rome Program and won second place in Verona’s Stance Urbane competition in 1995.

Later he attended the prestigious Architecture Association in London, where he earned an MA in Housing and Urbanism. While there he worked with Gumuchdjian + Spence and Shigeru Ban on the “Shared Ground” pavilion, a 25,000-square-foot, recycled cardboard structure housed in the Millennium Dome. He also served as coordinator and designer of Shigeru Ban’s “Paper Log House” in Rem Kolhaas’ exhibition Cities on the Move, in London’s Hayward Gallery.

Eager to continue working in Europe, Boshell joined Junquera Associates in Madrid, where he participated in the competition of Cuartel de Antiguones, an 18th-century structure at the University of Murcia; followed by a 90,000-square-foot housing project with medical facilities for the elderly in Extremadura, and a 200,000-square-foot housing project in Madrid.

Recently Boshell sought and received a seat on Miami’s Historic and Environmental Preservation Board. As a partner of LAB Group, a 35-year-old Latin American-based company that has constructed 20 million square feet and 10,000 homes, Boshell actively participates in the design of LAB Group’s projects in Miami and abroad. He is currently focused on the design of Kubik at Palm Grove, Kubik 69 and Kubik 114.

Joe Cayre (left), Jack Cayre , Michael Samuels, Dan Pfeffer

Early in its history, Miami was dubbed the Magic City because it seemed to have sprouted out of the limestone fully formed. Likewise, the Midtown Miami project recently burst out of the old Buena Vista railroad yards almost overnight. The Midtown site was purchased in December 2003 from Florida East Coast Railroad for $34.5 million. The project is more than just another condominium complex. An entire, cohesive town was designed around a residential base. This included adding the infrastructure — streets, sewage, water pipes, electric wires — formerly lacking on the underdeveloped site, as well as shops, restaurants and public areas. The 55-acre property had to be built completely from scratch and turned into a city in miniature.

This task was taken up by the Midtown Group, a joint venture headed by developers Joe and Jack Cayre, Michael Samuels (right) and Dan Pfeffer.

Joseph Cayre made his fortune in the entertainment industry before entering the real estate business in New York City. As chairman of Midtown Equities, a family-owned and -operated investment company based in the Big Apple, he owns properties in Washington, D.C.; New Jersey; New York; as well as Florida. His most well-known asset is an interest in the 99-year-lease to the former World Trade Center property in lower Manhattan. He is the chairman of Midtown Group; his son Jack is a principal.

Michael Samuels, a principal in the Midtown Group, oversees the daily operations. He is the founder of Samuels and Company, a 25-year-old real estate firm with projects scattered across the country. Residential, retail, industrial and other types of properties fill his portfolio.

Daniel Pfeffer is another principal in the Midtown Group. His role lies mainly in the development and capitalization processes. He also serves as president of Midtown Equities. His background includes stints at Manufacturers Hanover Trust, Smith Barney and GE Capital.

Alan Lieberman

When Alan Lieberman moved to South Florida along with wife Diane in 1989, the real estate power duo could not have picked a better time to set up shop. Their experience in renovating and managing apartment houses in Philadelphia (of which they still own more than 2,000) clued them in that the South Florida market was about to boom. Over the next 15 years, the pair bought up many historic properties that needed the right tender loving care to help them blossom again. Among those lucky buildings are the Chelsea Hotel, Chesterfield Hotel, Mercury Resort and Spa, and the Whitelaw. In 1999, Diane founded South Beach Investment Realty to oversee multiple functions in the real estate market. The company is involved in everything from sales to conversions.

Alan Lieberman owns the South Beach Group, which operates several hotel resorts on Miami Beach, but he also designs new-construction projects like the Montclair Lofts and multimillion dollar waterfront homes, including one that Terry “Hulk” Hogan purchased last year. Both Liebermans are well-known art collectors.

Claudio Stivelman (right) and Gilbert Benhamou (below)

As its $1 billion in sales can attest, Shefaor Development LLC is one of the fastest growing and most lucrative development companies in South Florida. Specializing in luxury high-rises, single-family homes and mixed-use projects, Shefaor (Hebrew for blessing and enlightenment) currently has more than 1,500 units currently in some stage of development.

Behind Shefaor Development is the team of Claudio Stivelman and Gilbert Benhamou. Claudio Stivelman hails from Rio de Janeiro. He holds degrees in engineering and economics and is a banker as well as investor. His co-principal, Gilbert Benhamou, is from France. He is the founder and CEO of Apex Development Group. Together the investors have built a large portfolio of luxurious and recognizable properties such as the Grand Venetian on Belle Isle, Ocean Point Resort and Beach Club on Miami Beach, and the Uptown Marina Lofts in Aventura. They also hold properties in the Dominican Republic, but their focus continues on the Aventura area, which they believe will become the Beverly Hills of South Florida. Their projects there include Yoo Miami and ArTech, which is scheduled for completion in winter 2007.

Tibor Hollo

The president of Florida East Coast Realty, Tibor Hollo is highly regarded by his peers as a pioneer developer. In 1972, Hollo constructed the very first high-rise building on Brickell Avenue, Rivergate Plaza. From there, Hollo sought to transform his dream of making Miami’s urban core a place to live, work and play through his various projects in the Omni/Venetia area and the Brickell corridor.

Hollo’s projects in the Miami area include a significant number of major high-rise residential and mixed-use buildings such as Bay Parc Plaza, Venetia/The Grand (which contains more than 2.5 million square feet by itself), the Biscayne Bay Marriott Hotel and Marina, Plaza Venetia, Flamingo Plaza, Vizcaya Towers and Vizcaya North, Center House, Sans Souci Manor, Tropicana East and Tropicana West Apartments, and Twin Lakes Racquet Club. His projects also include 888 Brickell Avenue, two United States Treasury Buildings and the United States Justice Department Building in downtown Miami.

In 1996 Hollo acquired Colonnade Plaza, an architecturally significant, eight-story office building on Brickell Avenue, which will become an anchor for the new luxury high-rise Brickell Bay Plaza.

Hollo also develops and provides management service for a state-of-the-art telecommunications/data center, the result of reusing an empty building located in the Little River section of Miami. The reuse of the building provides jobs and commerce in one of the city’s more economically depressed areas.

Although Hollo’s business activities are largely devoted to commercial and residential developments and management, he is an active participant in some 40 civic, fraternal and religious organizations. He is a member of the Society of Founders of the University of Miami. He served on the executive board as trustee of Barry University as well as on the city of Miami Beach’s ad hoc committee for Economics Adjustment Strategy. He was honored with the New American Award by the Catholic Charities Legal Services, Archdiocese of Miami for his contributions to his adopted city.

Hollo is also on the County’s Performing Arts Center Strategic Planning Committee and serves on the Board of Directors of the Latin Builders Association.

Ugo Colombo

Ugo Colombo is an entrepreneur. He owns Glasswall, LLC, a Miami-based glass and window manufacturing business that specializes in impact-resistant window systems for residential and commercial high-rise projects. He also owns The Collection, a Coral Gables dealership that sells rare and luxurious sports cars — a favorite of successful developers.

But Colombo is himself a developer. In 2002 he constructed 4000 Ponce, a Class-A Coral Gables office tower. And early last year Colombo completed the Grovenor House, a 32-story condominium in Coconut Grove.

Now, as president of the CMC Group, Colombo has embarked on building two luxury condominium hotel towers with more than 1,200 restaurants, bars, meeting rooms and a spa on top of the former Dupont Plaza. The name: Epic Residences.

And recently Colombo’s CMC Group has teamed up with Giuseppe Cipriani and Patrinely Group to construct a luxury condominium hotel in South Beach called Cipriani Resort and Residences Miami Beach.

Colombo is also affiliated with the Builders Association of South Florida, National Association of Women in Construction, Beacon Council, Greater Miami Chamber of Commerce, Italian-American Chamber of Commerce and the Greater Miami Convention and Visitors Bureau. He also supports nonprofit charities such as Children’s Home Society, March of Dimes, Society for Abused Children, Humane Society of Greater Miami, United Way of Dade County and Talmudic University.

Harvey Hernandez

Harvey Hernandez is founder and CEO of H&H Development Co., a $160 million multifamily development firm specializing in middle-market product. Since its inception just six years ago, H&H has amassed a portfolio of approximately 2.4 million square feet of development in various stages of planning, construction and completion. Another couple of hundred units are scheduled to come on board this year. Projected revenues for 2007 total $200 million.

Harvey Hernandez relocated to South Florida from Venezuela in 1992 after studying computer programming. In 1995, he founded a computer wholesale company that serviced South America and the Caribbean. He single-handedly grew the company into a $30 million business in five years, and sold the business in 2001 to pursue real estate full time.

Using his own capital to finance projects, Hernandez began planning his first venture, Gables View. He charted the development course of the 14-story boutique property from planning and design to construction and completion. With a two-month, $21 million sellout, Gables View set the stage for H&H’s future success.

Gables View was quickly followed by Villa Calabria, a six-story, 35-unit boutique property in Coral Gables that sold out in 90 days, and Douglas Place, a 14-story, 85-unit mixed-use project, which sold out and closed in 2005.

Hernandez added other developments to the H&H Development Co. portfolio, including Mediterranea, a 15-story, 181-unit mixed-use project that was built on the former site of the landmark Coral Gables restaurant El Cid. Mediterranea began closings in the fall of last year. Also in the closing phase since late last year is Solaris, a contemporary-style development in the heart of Brickell.

Hernandez’s current project is Gallery Art Condominium, formerly known as Mondrian. It is a cutting-edge condo in the Miami Arts District inspired by the late, internationally known artist Piet Mondrian. Construction on the 176 residences is underway, with completion slated for late 2008.He is also building a 288-unit mixed used project in West Palm Beach called City Palms, which is scheduled for completion in 2008.

Diego Lowenstein

Diego Lowenstein used to play in the lobby of the Miami Beach DiLido Hotel when he was a kid, according to a 2004 South Florida CEO magazine article. Now that hotel has been merged into the Ritz Carlton South Beach, a Lionstone Development property; and Lowenstein, the CEO of his family-run Lionstone, oversees it as well as several other ventures.

“I always knew as a kid, and even going to college, that I would go into the family business,” he told South Florida CEO. “I’m fortunate to have a father that has taught me the ways, that has taught me the smarts of the street.”

Since the 1960s, Lionstone Development has been involved with building hospitality and gaming institutions throughout Florida, the Caribbean and Latin America. As of last year, Lionstone expanded its business focus to several residential and mixed-use projects. Among them: The Ritz-Carlton Club and Residents, South Beach condo hotel, set for occupancy in 2009; and Epic Residences and Hotel, a joint-venture project with CMC Group to build a looming hotel-condo on top of the former Dupont Plaza site downtown, set for occupancy in 2008. And looking beyond Florida, Lionstone and Lowenstein are building the St. Regis Resort and Residences — Costa Rica, which will be surrounded by the Ara Macao Wildlife Reserve and is set for completion in 2008.

Lowenstein’s ambition, by the way, is to “make a lot of money,” according to the South Florida CEO interview. “If you don’t have that focus, why go into business? If you are a true entrepreneur, it’s about getting a good return off your capital.”

Lissette M. Calderon

The chief executive officer of Neo, Lissette Calderon graduated cum laude from the Wharton School of Business at the University of Pennsylvania. Upon graduation Calderon joined Donaldson, Lufkin & Jenrett in the firm’s Latin American Merchant and Investment Banking Group. While at DLJ, Calderon was involved in the acquisition of a Brazilian conglomerate, and the Initial Public Offering of CANTV, the largest Latin American IPO to that date in excess of more than one billion dollars.

Calderon eventually left New York for Miami to pursue her interest in real estate development. Upon arriving, Calderon joined Terremark Inc., where she was involved with the development of Grove Hill Condominium, Fortune House Condominium and the Four Seasons Tower. From there she was hired by Jorge Perez of the Related Companies as a project manager. She began her career with Related with the Enclave at Doral, a 264-unit luxury apartment development in the Doral area of Miami, as well as Gables Grand Plaza, a mixed-use, mid-rise development in historic Coral Gables consisting of 195 units and 35,000 square feet of retail. From there Calderon was involved with projects such as St. Andrews at Boynton Beach, St. Andrews at the Polo Club, The Yacht Club at Brickell and The Congress Building in downtown Miami.

By 1999, Calderon decided to go into business for herself — founding Neo, a company that would build three residential properties around the Miami River. On May 20, 2002, her 28th birthday, Calderon broke ground on her first high-rise solo project, Neo Lofts, a 199-unit loft building on the south bank of the Miami River. Now complete, the project brought the Miami River’s first residents in almost a century. In 2004, Calderon began developing NeoVertika in Brickell Village, also on the river’s south bank. Already sold out and currently under construction, NeoVertika broke convention once again. The new “splits”-style condominium features massive cubic volume with 20-foot floor-to-ceiling windows and unparalleled views, and the freedom to personalize the vast open spaces.

Currently, Calderon is working on Wind, a Neo Epoch Concept. The 41-story building will house 489 units and is slated for completion in the summer of 2007. But her most recent project, CIMA, is a 52-story, 507-unit property that will be bordered by the Metrorail, the South Miami Avenue Bridge, Southwest Third Street and the Miami River. Designed by Luis Revuelta, CIMA will be a part of the first gated and secured private enclave.

Last year, Neo was awarded the Greater Miami Chamber of Commerce’s Top 100 Award for Innovation in the Workplace (small company) as well as the March of Dimes’ Building Our Community Awards for the real estate and construction category. Additionally, Calderon was named a finalist for the South Florida Business Journal’s Biz Women of the Year Award for CEO of the Year.

Jacobo Cababie

As CEO of Cabi Developers, Jacobo Cababie is responsible for all facets of the U.S. subsidiary of GICSA, Mexico’s largest development company. Aventura-based Cabi Developers is currently developing several high-end residential and commercial projects in South Florida.

One of three brothers of the founding family, Jacobo was born and raised in Mexico City, where he began working in sales at his family’s apparel manufacturing and retail business. Recognizing the strength of the local real estate market, the family business evolved into one that focused on real estate investment and development, and the Cababies began purchasing land all over Mexico.

Since inception, GICSA has amassed a lengthy portfolio of luxury residential and commercial buildings, major retail malls and outdoor complexes, along with several modern industrial parks. Jacobo led the residential division of GICSA for seven years, where he was directly involved in developing scores of properties from the beaches of Cancun and Cabo San Lucas to the shores of Acapulco and the suburbs of Mexico City.

Jacobo relocated to Miami in 2000 to form Cabi Developers, with The Parc at Turnberry Isle representing the company’s first foray into the U.S. market. In 2004, Cabi embarked on the 849-unit Everglades on the Bay.

Cababie also oversaw the successful development of Country Club Center in Aventura. He is currently busy with Capital at Brickell, a mixed-use development whose architecture style is reminiscent of NYC’s Chrysler building. “Miami has been absolutely wonderful to us,” Cababie said. “And we look forward to extend and enlarge that base, in South Florida as well as other parts of the United States.”

Shaquille O’Neal

Not every developer in town had his start in law or finance or construction. One very special one happens to still be a National Basketball Association star by day and honorary police officer by night. Now Shaquille O’Neal is adding real estate developer to his colorful resume. Partnering with MDM Development Principal Luis Pulenta, Shaq’s O’Neal Group is developing the MetMiami site at the mouth of the Miami River. This will be the company’s first foray into the real estate business. The $600 million project will include three high-rises containing over 1000 residences of all varieties —penthouses, lofts and luxury condominiums. There will also be a hotel, entertainment area, gym, supermarket and a host of other amenities within the complex.

Michael Bedzow

One of South Florida’s largest real estate firms is the Canada-based Groupe Pacific. Chairman Charles Bedzow founded the company in 1953 and expanded its dealings into the Florida market during the 1960s. His son Michael Bedzow is currently the president and CEO of the company; he is also a real estate lawyer, the former president of the law firm of Bedzow, Korn, et al., P.A.; and director of OptimumBank Holdings, Incorporated. Among Groupe Pacific’s projects are the Biscayne Cove, Oceanfront Plaza, La Gorce Palace, L’Excellence, The Sterling, La Rive Gauche, the Sunset Harbour, The Cosmopolitan and Brickell on the River.

David Edelstein

New York-based Tristar Capital knows a potential landmark property when it sees it —especially if it’s undervalued. The company, which has operated in the Big Apple for more than two decades, is headed by David Edelstein. He prides himself on selecting hidden gems for polishing. Among the properties he has guided are the Park Laurel and 279 Central Park West in NYC, Desert Passage shopping mall on the Las Vegas Strip, and he’s even worked with Lincoln Road Mall here on Miami Beach. His current project is the W South Beach Hotel & Residences on the site of the old Holiday Inn on Collins Avenue. Financing of $370 million has already been secured for the construction. Demolition of the old building is nearly complete, and the new complex should be finished late next year. It will house more than 400 units and will be near the new public library, a renovated park and several cultural landmarks.

Key International/Ardid Family

Will the long, strange saga of a certain Miami Beach property line finally come to an end? Ground has been broken on a $110 million renovation of the Eden Roc hotel. Key International, which is owned by the Ardid Family, is building a new tower complex that will house 283 rooms, a spa, rooftop garden, a bar, bungalows and even new pools. This will make the Eden Roc the third largest hotel on the Beach, and it should hide the infamous Wall of Spite that has cast a shadow over the Eden Roc pool for 45 years. (In what has to be one of the most expensive and long-running business feuds ever, Fontainebleau hotel owner Ben Novack built a characterless wall to spite the Eden Roc for supposedly being lovelier than his place next door.) Other recent Key International projects include the Mint residences and entertainment complex downtown, and the Ivy on the Miami River.

Eric Sheppard and Philip Wolman

The Carillon sign is on again… after being shut off for more than ten years. The Carillon at 6901 Collins Avenue, once a famed hotel sat abandoned until Eric Sheppard and Philip Wolman of WSG Development Company, took the hotel over and redeveloped it as Canyon Ranch Living, a Tuscon-based health resort in the United States. Canyon Ranch, which will include 150 guest rooms and suites and an oceanfront restaurant, will be the first wellness residential community in the United States. In recognition of revitalizing a historical property with a unique concept, Sheppard, who was raised on Miami Beach, was awarded the Developer and Builders Alliance’s Visionary Award.

Founded in 1995, WSG Development Company specializes in acquisition, development and construction of commercial and real estate in 15 states nationwide.