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Real estate news in the Sunshine State

From left: Coconut Grove waterfront and Jorge Perez
From left: Coconut Grove waterfront and Jorge Perez

Related, Dezer team up on Armani-brand condo

Related Group and Gil Dezer are linking up to put another South Florida condominium tower in the ground: the Armani Residences by Cesar Pelli in Sunny Isles Beach.

The developers haven’t formally announced the project, named for Italian fashion designer Georgio Armani, but Dezer has talked publicly about a joint venture with Related’s head, Jorge Perez.

The tower will have two-, three- and four-bedroom homes, with price tags that start at $1.4 million, insiders told the South Florida Business Journal. The sources did not disclose the total number of units or other building details.

Dezer and Perez have teamed up before on other skyscrapers in Sunny Isles — under the Trump brand.

Related just broke ground on a two-tower condo complex in Miami Beach’s swanky South of Fifth neighborhood; Dezer is closing out sales of his Porsche Design Tower in Sunny Isles Beach.

Whitman proposes $200M makeover for Bal Harbour Shops

Whitman Family Development wants to increase its already mammoth Bal Harbour Shops by more than half over the next three years.

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The $200 million project calls for adding 250,000 square feet to the 450,000-square-foot mall less than 10 miles north of Miami Beach. The space would include 100,000 square feet of department stores and more than 20 specialty retailers, the Miami Herald reported.

Whitman CEO Matthew Whitman Lazenby presented two sets of redevelopment plans to the village of Bal Harbour, which must sign off on the expansion.

“The objective of the plan is to respond to the needs of the market and to make sure Bal Harbour Shops remains as compelling a destination tomorrow as it has been for the last 50 years,” Lazenby told the newspaper.

Coconut Grove set for $18M waterfront project

Coconut Grove’s waterfront is going to get an overhaul: Seven acres of the Miami neighborhood will be cleared and rebuilt under a plan approved on Nov. 5 by voters.

Grove Bay Investment Group now has the go-ahead to sign a 50-year lease with the city for the land, where the Grove Key Marina, two popular restaurants and two historic Pan American Airways hangars now stand.

The developer must spend $18 million to upgrade the marina, replace the restaurants with three new ones, restore the hangars and construct a promenade, the Miami Herald reported. Grove Bay also must give $5 million to the Miami Parking Authority for a three-story parking garage with 40,000 square feet of ground-floor retail space.

Three lawsuits accusing the city of improperly awarding the project to Grove Bay are pending, however. Grove Bay was the only bidder when Miami commissioners approved its proposal in July.