In their second partnership agreement, Starwood Hotels & Resorts Worldwide, Inc. and The Related Group of Florida have created a joint venture to develop the St. Regis Resort & Residences in South Florida’s most exclusive enclave, Bal Harbour. The St. Regis Resort & Residences-Bal Harbour, to be built on the existing site of the Sheraton Bal Harbour, will be located on the white, pristine sands of the Atlantic Ocean, directly across the street from the legendary Bal Harbour Shops. The renowned Sieger Suarez Architectural Partnership and Yabu Pushelberg of Toronto, Canada, have been selected for the project.
The developer and architect recently presented models of the proposed property complete with a composite of what its three towers will offer residents and hotel guests once it opens in 2009. Sieger Suarez claims this is “the best client, the best project, and the best site” and expressed their excitement to be the architects of record for the project. Starwood Properties claimed the project will become the flagship of the St. Regis brand.
“Related’s innovative development expertise in project conceptualization, mixed-use development, and sales and marketing of upscale residential projects in the South Florida market, is a perfect complement to Starwood’s ultra-luxury brand, loyal customer base and its existing untapped real estate holdings,” said Steven Heyer, CEO of Starwood Hotels & Resorts. “We expect that this relationship will allow us to maximize the unrealized potential of our land assets while enhancing the strength of Starwood’s presence in this affluent market.”
“We see a huge potential in developing the St. Regis Resort & Residences-Bal Harbour as a preeminent address for first-class luxury living in Miami,” said Jorge M. Perez, chairman of The Related Group of Florida. “The powerful combination of the St. Regis brand, the distinguished reputation of Sieger Suarez Architectural Partnership, and Related’s integrated development approach will make the St. Regis Resort & Residences-Bal Harbour a spectacular new addition to the seaside Bal Harbour village.”
The Related Group of Florida has 25 years of residential development and construction experience in condominiums and urban mixed-use properties, primarily in Florida. Some of Related’s landmark projects in South Florida include ICON, Murano, Murano Grande, Portofino Tower and Oceans I, II and III. The company works closely with its New York affiliate to acquire commercial and residential real estate throughout the U.S. Related’s marketing partnership with RCRS [Related Cervera Realty Services] offers years of selling expertise in the South Florida luxury real estate market.
Sieger Suarez has long been unrivaled as South Florida's leading architectural firm, specializing in luxury residential high-rise design. Taft Bradshaw, the original landscape designer for the Village of Bal Harbour and the Bal Harbour Shops, has been chosen as the landscape architect.
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world, with more than 750 properties in more than 80 countries and 110,000 employees at its owned and managed properties. With internationally renowned brands, Starwood is a fully integrated owner, operator and franchisor of hotels and resorts including: St. Regis, The Luxury Collection, Sheraton, Westin, Four Points by Sheraton, and W brands, as well as Starwood Vacation Ownership, Inc., one of the premier developers and operators of high quality vacation interval ownership resorts.
