Related, Integra plan two-tower St. Regis condo development in Miami’s Brickell

354-unit project with estimated $2B sellout will replace affordable housing development

Miami /
Dec.December 16, 2021 11:30 AM
Rendering of the project with Robert A. M. Stern, Jorge Perez, Nick Perez and Nelson Stabile (1809 Brickell Venture, LLC, Binyan Studios, Getty, Integra)

Rendering of the project with Robert A. M. Stern, Jorge Perez, Nick Perez and Nelson Stabile (1809 Brickell Venture, LLC, Binyan Studios, Getty, Integra)

The Related Group and Integra Investments are partnering to redevelop the waterfront site of an older affordable housing building in Miami into a pair of luxury St. Regis-branded condo towers, sources told The Real Deal.

The 354-unit condo Brickell development will be designed by Robert A.M Stern Architects, who designed skyscrapers that include 220 Central Park South and 30 Park Place in New York. Rockwell Group will design the interiors.

Miami-based Integra has owned the existing bayfront building at 1809 Brickell Avenue, formerly known as the Stanley Axelrod Towers, since 2014. It paid $14 million for the 17-story building, now called the George Humphreys Towers. It was built in 1966 on a property of over 3 acres.

The Department of Housing and Urban Development released the building from its affordable housing agreement this summer, records show. The Next Miami reported earlier this year that Related was targeting the building.

In its place, Related and Integra plan to develop the St. Regis Residences, Miami with an estimated $2 billion sellout, a spokesperson said. One Sotheby’s International Realty was tapped to handle sales following a bidding process, sources said.

Prices are expected to start at $2 million, and units will range from 1,300 square feet to 7,000 square feet, according to a release. The project will also have more than 55,000 square feet of amenities, including an indoor lap pool and a St. Regis Tea Room.

The developers expect to open a sales center and launch sales early next year. ​​In South Florida, St. Regis Hotels & Resorts, a Marriott brand, operates The St. Regis Bal Harbour Resort.

Condo developers have been rushing to take advantage of Miami’s hot residential market, launching sales of a number of luxury condo projects this year. Related is no exception. The Miami-based developer, led by Jorge Pérez and his sons Jon Paul and Nick Pérez, launched and sold out the Solemar development in Pompano Beach, and began selling Baccarat Residences near the Miami River, Casa Bella by B&B Italia north of downtown Miami and others.

The company also has recently partnered with billionaire Teddy Sagi on a number of projects, including a development on the last remaining condo site on exclusive Fisher Island in Miami Beach.





    Related Articles

    arrow_forward_ios
    Black Lion Investments' Robert Rivani and the Ritz-Carlton Residences at 4701 North Meridian Avenue in Miami Beach (Ritz-Carlton Residences, Black Lion Investments)
    Black Lion’s den: Robert Rivani pays $8M for waterfront Miami Beach penthouse
    Black Lion’s den: Robert Rivani pays $8M for waterfront Miami Beach penthouse
    From left: David Edelstein, Alex Karakhanian and Victor Ballestas in front of the property at 3601 North Miami Avenue (Lndmrk Development, Tricap, Integra Investments, LoopNet)
    David Edelstein, partners buy Design District dev site, plan office tower
    David Edelstein, partners buy Design District dev site, plan office tower
    Nuveen CEO Jose Minaya and 801 Brickell Avenue in Miami (Nuveen, Colliers)
    Lease roundup: Nuveen moving Southeast HQ to 801 Brickell
    Lease roundup: Nuveen moving Southeast HQ to 801 Brickell
    Unit 6A at 3315 Collins Avenue with Arvind Sanger (Redfin, PrathamUSA)
    Hedge funders make a deal: Faena House condo trades for $15.5M
    Hedge funders make a deal: Faena House condo trades for $15.5M
    Sarah and Shaya Boymelgreen with a rendering of 42 Pine (Getty, 42 Pine)
    Boymelgreens launch sales of boutique Miami Beach condos on Pine Tree Drive
    Boymelgreens launch sales of boutique Miami Beach condos on Pine Tree Drive
    Edgardo Defortuna and Claudio Cordero with rendering of Bay Harbor Islands (Ambienta Developers, Revuelta Architecture International, iStock)
    Alta Developers takes over stalled Bay Harbor Islands condo, to relaunch sales with higher prices
    Alta Developers takes over stalled Bay Harbor Islands condo, to relaunch sales with higher prices
    South Florida by the numbers: Miami developers stay nimble
    South Florida by the numbers: Miami developers stay nimble
    South Florida by the numbers: Miami developers stay nimble
    Rendering of Two Roads Development’s planned 3-tower redevelopment of the Biscayne 21 condo property in Miami with Taylor Collins of Two Roads Development (Two Roads Development)
    Two Roads plans bulk purchase of bayfront Miami condo building, to replace with luxury towers
    Two Roads plans bulk purchase of bayfront Miami condo building, to replace with luxury towers
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...