Page 1

eMerge Americas

Building a true technology ecosystem in Miami

THE TIES THAT BIND Blue Skies and Smooth Sailing for Jimmy Tate and Sergio Rok

The COMO Way

Island Elegance to Cosmopolitan Flair

PLUS:

FORT LAUDERDALE CITY REPORT 2016 MAY/JUNE 2016 • executivesouthflorida.com


South Florida’s Most

SPECTACULAR PROPERTIES ...ARE ALL

CREATING THE NEW URBAN MIAMI SINCE 1979 South Florida’s Preeminent Developer relatedgroup.com


AUBERGE BEACH RESIDENCES & SPA FORT LAUDERDALE www.aubergebeach.com AUBERGE RESIDENCES & SPA MIAMI www.aubergemiamiresidences.com

HYDE BEACH HOUSE HOLLYWOOD www.hydebeachhouse.com HYDE SUITES & RESIDENCES MIDTOWN www.hydemidtownmia.com

ONE PARAISO www.oneparaisomiami.com PARAISO BAY www.paraisobay.com PARK GROVE www.park-grove.com

MAREA www.mareamiamibeach.com

RESIDENCES BY ARMANI CASA www.rbacmiami.com

www.brickellheights.com

GRANPARAISO www.granparaisoresidences.com

SLS HOTEL & RESIDENCES BRICKELL www.slsbrickell.com

BRICKELL HEIGHTS 02

PARAISO BAYVIEWS www.paraisobayviews.com

SLS LUX BRICKELL www.slslux.com

BRICKELL HEIGHTS

www.brickellheights02.com

The Related Group is a trade name for a group of companies and partnerships that develop distinctive real estate projects. Each particular real estate development project that uses the name “Related Group” or “The Related Group” is a licensee of The Related Group and each is a separate, single purpose entity that is solely responsible for its own separate development project, contracts, obligations, duties, and responsibilities. Each project depicted is developed by one such distinct and separate, single purpose entity. This is not intended to be an offer to sell, nor a solicitation of an offer to buy, any condominium units to residents of any other jurisdiction where prohibited by law, unless the condominium has been registered or is exempt from registration. Your eligibility to purchase may depend upon your state of residency. Any offering made for, or by, any of the condominium development projects depicted is made solely by the Prospectus of such project which Prospectus is filed with the State of Florida and available from the project developer. 2015 The Related Group with all copy rights reserved.


WELCOME TO

A

uberge is truly a treasured destination, located directly on the white sand beach of the Atlantic and offering an unparalleled standard in luxury living. From sunrise to sunset, Auberge offers the best in premium beachfront living. Spend mornings pampered at our state-of-the-art spa and fitness center, mid-day lounging in poolside perfection and evenings enjoying delicious bites at our James Beard award-winning restaurants. EXCEPTIONAL BUYING OPPORTUNITIES NOW AVAILABLE FOR THE SOUTH TOWER North Tower over 80% sold.

2200 North Ocean Blvd.

Fort Lauderdale, FL 33305 (954) 543-5593 AubergeBeach.com

Oral representations cannot be relied upon as correctly stating representations of the developer. For correct representations, make reference to this brochure and the documents required by Section 718.503, Florida Statutes, to be furnished by a developer to a buyer or lessee. This Condominium is developed by PRH FAIRWINDS, LLC (“Developer”) and this offering is made only by the Developer’s Prospectus for the Condominium. Developer, has a licensed right to use the trade names, marks, and logos of: The Related Group, Fortune International Group, The Fairwinds Group, and Auberge Resorts, LLC. Auberge Resorts LLC and its affiliates (the “Auberge Group”) are not related to, affiliated or associated with, or a partner in the business of the Developer. No representation, warranty or guarantee is made or implied by the Auberge Group with respect to any statement or information made or provided about the Condominium. Neither the Auberge Group, nor any of its directors, officers, employees, or agents has or will have any responsibility or liability arising out of, or related to, this publication or the transactions contemplated by this publication, including any liability or responsibility for any statement or information made or contained in this publication. Auberge® is the registered trademark of Auberge Resorts, LLC and used by license agreement. In the event the Auberge® license should lapse, this Condominium and any hotel affiliated with this Condominium will not be permitted to use the name Auberge®. The managing entities, hotels, brands, artwork, designers, contributing artists, interior designers, fitness facilities, amenities, services, and restaurants proposed are subject to change at the Developer’s discretion. The Developer is not incorporated in, located in, nor a resident of, New York. This is not intended to be an offer to sell, nor a solicitation of an offer to buy, condominium units in New York or to residents of New York, or any other jurisdiction where prohibited by law. Any art depicted may be exchanged for comparable art at the Developer’s discretion. Consult the Prospectus for all terms, conditions, specifications, and Unit dimensions. Reproduction for private or commercial use is not authorized. 2016 ® PRH FAIRWINDS, LLC, unless otherwise noted, with all rights reserved.


Š2015 California Closet Company, Inc. All rights reserved. Franchises independently owned and operated.

for the love of home

MIAMI 900 Park Centre Blvd., Suite 476


californiaclosets.com 3 0 5 . 6 2 3 . 8 2 8 2


MAY/JUNE 2016 FORT LAUDERDALE City Report 2016

26 FEATURES 26 The Ties That Bind By Eric Kalis Jimmy Tate and Sergio Rok show that friendship and business are a powerful combination.

VENICE

SPECIAL SECTION

OF AMERICA

+Fort Lauderdale Builds its Business Sector +Residents Moving into Downtown Corridor +Uptown District is Expanding its Commercial Base +Beach Gears Up for Significant Growth

36 Building a Technology Ecosystem

By Ron Mann Xavier Gonzalez and Melissa Medina lead eMerge Americas into the future.

42 The COMO Way By Barbara J. Perkins From Parrot Cay in Turks and Caicos to the Metropolitan Hotel in Miami, Crawford Sherman and his team provide the personal touch.

36 42


Miami’s Italian Masterpiece At the Center of It All. Learn more at Brickellflatiron.com

On Site Sales Center 1001 South Miami Avenue | Miami, Florida, 33130 (305) 400-7400 DEVELOPMENT & SALES

EQUAL HOUSING OPPORTUNITY | ORAL REPRESENTATIONS CANNOT BE RELIED UPON AS CORRECTLY STATING THE REPRESENTATIONS OF THE DEVELOPER. FOR CORRECT REPRESENTATIONS, MAKE REFERENCE TO THIS BROCHURE AND TO THE DOCUMENTS REQUIRED BY SECTION 718.503, FLORIDA STATUTES, TO BE FURNISHED BY A DEVELOPER TO A BUYER OR LESSEE. THIS OFFERING IS MADE ONLY BY THE OFFERING DOCUMENTS FOR THE CONDOMINIUM AND NO STATEMENT SHOULD BE RELIED UPON IF NOT MADE IN THE OFFERING DOCUMENTS. THIS IS NOT AN OFFER TO SELL, OR SOLICITATION OF OFFERS TO BUY, THE CONDOMINIUM UNITS IN STATES WHERE SUCH OFFER OR SOLICITATION CANNOT BE MADE. PRICES, PLANS AND SPECIFICATIONS ARE SUBJECT TO CHANGE WITHOUT NOTICE.


MAY/JUNE 2016

MAY/JUNE 2016 Volume III Number 1 PRESIDENT & PUBLISHER Ron Mann rmann@executivesouthflorida.com EDITOR Barbara J. Perkins bjperkins@executivesouthflorida.com

15

24

DEPARTMENTS 15 INDUSTRY FACES

93 EXECUTIVE CLUB

The newsmakers, game changers, and innovators who are driving business in the region.

24 THE EDGE

Capturing the area’s events, activities, and happenings.

98 CHOW

Who has the competitive advantage, and how did they get it.

South Florida’s Top Chefs and Restauranteurs.

CREATIVE DIRECTOR Lourdes Guerra CONTRIBUTING WRITERS Sue Arrowsmith Eric Kalis David Volz CONTRIBUTING PHOTOGRAPHERS Gort Productions Eduardo Schneider Ryan Stone MARKETING MANAGER Liudmila Leonova COVER Photo: Eduardo Schneider

©2016 Executive South Florida magazine is published 9 times per year by South Florida Executive LLC, 800 Brickell Avenue, Penthouse One, Miami, fl 33131. All rights reserved. The entire content of EXECUTIVE South Florida may not be reproduced without the express written consent of the publisher. EXECUTIVE South Florida accepts no responsibility for the return of unsolicited manuscripts and/or photographs, and assumes no liability for products and services advertised herein. EXECUTIVE South Florida reserves the right to edit, rewrite, or refuse material. To order a subscription, please call 305.735.2873. For more information, please contact: info@executivesouthflorida.com. To distribute EXECUTIVE South Florida, please email: distribution@executivesouthflorida.com

93 10

EXECUTIVE SOUTH FLORIDA

98

Executivesouthflorida.com 800 Brickell Avenue, Penthouse One, Miami, Florida 33131 305.433.6963


FLY SMARTER THIS YEAR. DESIGNED BY VETERAN NETJETS/MARQUIS JET EXECUTIVES, UNITY JETS GIVES YOU MORE FLIGHT HOURS FOR YOUR MONEY THAN ANY OTHER JET CARD PROGRAM. LEADING SAFETY STANDARDS NO CONTRACT NO PEAK DAY RULES OR RESTRICTIONS NO BL ACK OUT DATES NO FUEL SURCHARGES

UNITYJETS.COM OR 888.758.5387


FROM THE PUBLISHER

eMerge Americas

Building a true technology ecosystem in Miami

THE TIES THAT BIND Blue Skies and Smooth Sailing for Jimmy Tate and Sergio Rok

The COMO Way

Island Elegance to Cosmopolitan Flair

PLUS:

FORT LAUDERDALE CITY REPORT 2016 MAY/JUNE 2016 • executivesouthflorida.com

J

immy Tate and Sergio Rok have big shoes to fill. Both their fathers are larger-than-life figures who had a transforming effect on the banking and real estate industries in South Florida. They are self-aware, but more importantly, they are committed to carrying on their families’ philanthropic and civic legacy. They also value friendship above all else and prefer to work closely with those individuals that feel the same way. Building a technology ecosystem is something that eMerge Americas CEO Xavier Gonzalez keeps as his central focus. Since its founding three years ago, the groundbreaking tech conference has become recognized globally for its diverse range of speakers, extensive agenda, and ability to attract some of the world’s most influential entrepreneurs. Crawford Sherman and the team at COMO Hotels have a good take on what keeps their clients coming back. The attention to detail at their ultra-luxury island paradise, Parrot Cay, extends to the Metropolitan Hotel—a hidden gem on Miami Beach. Now with the resurgence of corporate retreats, they are planning an expansion of their conference and meeting facilities in both locations. And then there is our Fort Lauderdale City Report, another installment in our series that focuses on the status of South Florida’s major municipalities. The “Venice of America,” as it has been traditionally called, is determined to carve out a future in keeping with its plans for downtown growth and maintaining its pristine waterways. That means the city government must make tough calls to preserve a lifestyle and urban architectural look that attracts companies and satisfies the residents’ fear of overbuilding. Despite the tough debates, Mayor John “Jack” Seiler and his team appear to be leading the city in the right direction. We are always curious about what makes the crowds flock to new restaurants in South Florida. Yes, the venue must be hip and trendy, but if they are going to survive, then it most certainly has to be the food. Our new featured section—CHOW—identifies the top chefs and restauranteurs who are making the scene and a name for themselves in the process.

Ron Mann 12

EXECUTIVE SOUTH FLORIDA


The

For You. Now Open on Brickell! 848 Brickell Avenue 305.347.4000 1firstbank.com

FirstBank Florida is a Division of FirstBank Puerto Rico.


Photo by Gort Productions

INDUSTRY FACES

JUHA AND JOHANNA MIKKOLA Co-founders, Wyncode Academy

South Florida’s first coding school opens a third location in Miami Beach. MAY/JUNE 2016

15


W

INDUSTRY FACES EDUCATION

16

EXECUTIVE SOUTH FLORIDA

In the beginning, Toro says he wasn’t sure they’d get enough students. Ten cohorts (courses) later, classes are being capped at 20 students. In the last two years, he says, former bartenders, police officers, real estate agents and a number of school teachers have shifted gears by enrolling in Wyncode Academy to become computer programmers. Graduates have been matched with employers at nearly 40 different companies, including Weston’s Ultimate Software (Nasdaq: ULTI),

high-impact entrepreneurs. The Endeavor Miami program is funded by the John S. and James L. Knight Foundation and several local business leaders. Through the program, the Mikkolas can receive mentoring, opportunities to access capital and introductions to a powerful network of South Florida business leaders. Galvanized by their triumphs in Miami, Wyncode expanded to Fort Lauderdale in December 2015, holding its first cohort in

Today’s companies need programmers who can talk to customers, interact with team members and explain complex ideas to people.

— Juha Mikkola, Co-Founder

Wyncode students mastering the fundamentals of computer science Coconut Grove’s Watsco Inc., the largest U.S. distributor of air conditioning equipment, and CareCloud, a Miami-based online revenue management service for physicians. Placement is everything according to the co-founders. A total 180 students have graduated from Wyncode as of December 2015. What’s most impressive is their job placement rate: more than 92 percent were hired within three months of graduation. Learning how to code in an immersive setting, business fundamentals and mastering basic communication skills are critical—and distinct—components of Wyncode’s curriculum. Wyncode’s innovative program for aspiring coders led to the Mikkolas’ selection as Endeavor Entrepreneurs. Endeavor is a global organization supporting a select number of

the Flagler Arts and Technology (FAT) Village, the city’s emerging creative district. Finding a setting conducive to creativity is essential for Wyncode, says Mikkola. Each space has its own instructors, teaching assistants and staff, creating a unique vibe for each academy. As of January 2016, surf’s up at Wyncode’s third campus: Miami Beach. Plans for further expansion are already in the works. Part-time cohorts, programming for executives and coding classes for kids will soon be offered at existing locations. Extending their footprint across Florida and tapping into the Latin America market are in the pipeline, too. In the meantime, inductions into the adhoc Wyncode Alumni Association continue unabated. E —Eric Kalis

Photo by Gort Productions

yncode, founded three years ago by Finnish entrepreneurs Juha and Johanna Mikkola, is South Florida’s breakthrough boot camp for computer coding. A serial entrepreneur, Juha was looking for a new challenge, when he enrolled in a high tech boot camp to learn computer programming. Just a few weeks in, he noticed that a critical component was lacking. The technical aspects and fundamentals of writing code were covered, it was the “soft-skills” that were missing. Precisely what coders need in today’s increasingly social and network-based world. Johanna witnessed a similar trend at the National Hockey League (NHL), where she was employed. “At the NHL, managers were proficient in their technical ability but seemed to have difficulty interacting with others,” said Johanna. “Today, companies rely so much on teamwork. They need coders that can talk to customers, interact with team members and explain complex ideas.” After looking at several cities to set up shop, Juha was drawn back to South Florida, having spent part of his childhood in Palm Beach. The Mikkolas dived right in to finding a space, eventually settling on The Lab in Wynwood for their first location. The 10,000 square foot co-working space was a perfect location for a startup that offered students the opportunity to learn a trade in the growing technology sector. The Mikkolas brought Massachusetts Institute of Technology (MIT) graduate Edward Toro on board to develop Wyncode’s initial curriculum. After working on several successful startups in the greater Boston area, Toro returned to his South Florida home. “There had been attempts to launch an immersive web developer program here but no organization had the bandwidth to pull it off,” says Toro, echoing the challenges tech entrepreneurs have faced in the region. That is, until Wyncode came along. With his Bachelor’s degree in Engineering and Computer Science (and a minor in philosophy) in-hand, Toro opened Wyncode’s doors and taught the academy’s inaugural class. Wyncode is the first coding school licensed by the Florida Department of Education’s Commission for Independent Education. In the full-time, nine week boot camp for computer programming, students learn HTML, CSS, JavaScript, and Ruby on Rails. Tuition is $10,000 and graduates leave the program ready to join companies as junior web developers or, in some instances, prepared to build their own web applications and firms. Nine former students have already launched their own startups.


THE EXTRAORDINARY AWAITS … FOR LESS LIST NOW FOR JUST 1.5% SAVING YOU HUNDREDS OF THOUSANDS TODAY

FISHER ISLAND Portell International offers professional, full-service real estate services for luxury home buyers and sellers in South Florida. With Mary Ann Portell, you pay just 1.5% listing fee on the final sales price of your property, as opposed to the 3% that traditional firms charge saving you hundreds of thousands of dollars in the end. MORE THAN A COMMISSION SAVINGS - FOR US, IT’S PERSONAL Real estate technology has evolved and so has Portell International. Not only do we offer a reduced listing commission based on the market but extend the personal, uncompromising service that discriminating buyers and sellers want and need in today’s fast-paced, ever-changing market. With each client, we achieve excellence through bespoke service, expert proficiency in interpreting their needs and heightened attention to detail, creating an unparalleled experience for all parties involved.

LUXURY CONDOS

MORE LOCAL MARKET KNOWLEDGE As a 25 year Fisher Island Resident and a Wharton Graduate, Mary Ann Portell possesses the necessary market expertise to both price and publicize your home effectively. We will execute a marketing plan that is technology rich and high in service, providing the most exposure possible for your home. WHETHER BUYING OR SELLING….WE WILL SAVE YOU MONEY!! At Portell International, we expect more and so should you. As the consummate deal maker, Mary Ann strives to bring the perfect combination of technology, service and marketing to give you the best chance to sell or buy your home for the biggest savings to you possible. Contact Portell International today and learn more about how we can assist you with selling or buying your most prized asset.

LUXURY HOMES

Voted by Miami Herald “FLORIDA’S BEST REALTOR OF THE YEAR” “BEST BROCHURE” “BEST PRINT AD”

Portell International Realty, Inc. 1111 Lincoln Road, 4th Floor Miami Beach, FL 33139

305.710.5188

Email: mportell@bellsouth.net

portellinternational.com

NEW DEVELOPMENTS


INDUSTRY FACES ARTS & CULTURE

18

EXECUTIVE SOUTH FLORIDA


DEBORAH SPIEGELMAN

CEO, Miami Children’s Museum

Photos by Ryan Stone

W

hen Deborah Spiegelman’s two daughters were growing up, she was famous for having “the best art closet in town” where all the neighborhood kids would go to play and create. Now years later, she is the CEO of one of the finest and most celebrated children’s museums in the country, which has touched the lives of more than two million children. The Miami Children’s Museum is a grand 56,500 square foot facility on Watson Island featuring 14 galleries filled with hundreds of interactive exhibits, including a one-of-a-kind traveling Wizard of Oz tribute. But it’s much more than a traditional museum. The multifaceted, nonprofit institution has a mission to inspire children to play, learn, imagine and create. There are classes, camps, an in-house theater performing troupe, community outreach programs, birthday parties and other special events. The museum also houses a pre-school and charter school serving approximately 400 students in total. It’s one of only two children’s museums in the east coast with a charter school. “We have a big commitment to education,” Spiegelman said. “We have fostered a community, a town center for kids and their families.” The museum’s reach extends beyond its facility. Through Miami-Dade County’s Head Start Program, museum staff goes out to public schools and libraries to help incorporate art and music into the curriculum, where many programs have been cut due to budget issues. “There are evidence-based studies that show children who are introduced to music

education excel in science and math,” Spiegelman said. “We teach and help kids and educators infuse music and arts into a typical day.” Spiegelman noted one of her biggest challenges is maintaining a balance between being cutting-edge and allowing children the opportunity to just play. Exhibits are carefully designed to bring together these two elements, such as the popular Sketch Aquarium where children’s drawings come to life in a virtual aquarium, or My Green Home, which introduces energy conservation and alternative technology in a fun environment. Many of the current exhibits are undergoing renovations while new ones are set to open soon. The museum recently celebrated the grand opening of the new Baptist Children’s Hospital Health and Wellness Center which highlights preventive care, nutrition, fitness and interactive displays providing kids with a fun way to lead a healthy lifestyle. Spiegelman first joined the Miami Children’s Museum in 1992 as a consultant, after working on several political campaigns and development in the health care sector. She was on her way to law school when she discovered a passion for nonprofit development. As a consultant for the museum, she raised all the funds for the building of the current facility and was responsible for creating its strategic framework and operational model. She became the museum’s CEO in 2000. “Miami Children’s Museum is extremely fortunate to have Debbie at its helm,” said Developer Jeffrey Berkowitz, who is the current chairman of the board. “She is the face of the museum. She inspires the loyalty and creativity of an extensive staff.”

Less than half of the museum’s $8 million annual operating budget comes from exhibits, donors and Miami-Dade County. The remainder is met in large part through two major fundraising events: the Be a Kid Again Gala “Miami Vice & Spice,” which took place this past February, and the Not So Scary Family Halloween Bash in the fall. Proceeds from the gala go toward funding the museum’s educational programs. Spiegelman, who is an avid fan and supporter of the arts, is always looking for new and creative ways to raise money and engage the community. Six years ago, she negotiated a deal with Warner Brothers Studios to create a Wizard of Oz exhibit, inspired by one of her favorite movies. The exhibit features a collection of beloved artifacts from the film, including a pair of ruby red slippers encased in glass. Miami Children’s Museum holds the licensing and rights to the exhibit, which has traveled to more than a dozen U.S. cities while providing an added source of revenue. Most recently, a 1,000 square foot interactive exhibit at Miami International Airport is in the works for later this year. “The Miami International Airport exhibit will raise the bar of what airports provide to visitors,” Spiegelman said. “It will be a gallery of fun exhibits for children and their families with an education component.” Born and raised in Miami, Spiegelman has witnessed the city’s exponential growth and transformation into a preeminent business, art and culture destination. And with its perfect location wedged between downtown Miami and Miami Beach, the museum remains at the forefront of all there is to come. “There’s a big arts community that has blossomed here,” she said. “It’s very exciting to be part of the revitalization of downtown Miami.” E —Sue Arrowsmith MAY/JUNE 2016

19


INDUSTRY FACES HEALTHCARE

DR. STEPHEN NIMER Director of Sylvester Comprehensive Cancer Center

R

unning one of the top cancer treatment centers in the country can be a daunting task. Since becoming director of Sylvester Comprehensive Cancer Center, part of UHealth—the University of Miami Health System, in 2012, Dr. Stephen Nimer has embarked on a mission to recruit some of the best talent in the world. “I like to tell prospective candidates that Miami is a truly special city, a diverse and multi-ethnic community that represents the changing face of America. In just a few short years, we have been able to recruit over 70 physicians, researchers and scientists who want to work on building something truly dynamic”. Dr. Nimer came to Sylvester after spending nearly 20 years at New York City’s Memorial Sloan Kettering Cancer Center. He has a reputation as one of the top leukemia and stem cell transplant researchers and physicians in the world. In New York, he held The Alfred P. Sloan Chair in Cancer Research, led the Center’s Division of Hematologic Oncology and was vice chairman of Faculty Development for the hospital. He was also a professor at Weill Medical College of Cornell University and has championed

20

EXECUTIVE SOUTH FLORIDA

numerous award-winning research studies and authored articles for more than 200 scientific publications. “I’m extremely impressed by him,” says Hilarie Bass, vice-chair of the University of Miami Board of Trustees. “Stephen Nimer is really committed to moving the hospital forward. He’s extremely focused on the patient experience and the fact that he’s wonderfully warm and personable certainly doesn’t hurt.” Although Bass was not on the selection committee which hired Nimer, the two have worked closely together since he has arrived, says Bass. “I worked many hours with Stephen on the committee to select the new University president. He’s so committed to the entire university. He’s just phenomenal.” His vision for Sylvester is to continue to build its world-class reputation while developing additional core services. The advancement of its clinical and lab research capabilities is critical and so is expanding cancer prevention, screening and early diagnosis programs. “Cancer is so many different things to different people,” says Nimer. “If we have a better understanding of the biology that drives it, then we can deliver a much more precise treatment plan. It’s the kind of work which calls on the collective strength of individuals.”

Under Nimer’s leadership, the facility has hired new program directors including Dipen J. Parekh, M.D., Chairman, Department of Urology, Director of Robotic Surgery; Brian M. Slomovitz, M.D., Co-Leader, Gynecologic Cancers Site Disease Group; Nipun B. Merchant, M.D., Chief Surgical Officer, Director of Surgical Oncology Research Programs; Stephen Lee, Ph.D., Leader of the Tumor Biology Program and J. William Harbour, M.D., Director of Ocular Oncology. Nimer is particularly proud of the newly instituted collaboration arrangements he has made across the University. By integrating the strengths and interests of the University’s other schools, he is finding a much more effective way of communicating. Fighting cancer also requires stamina and not just for the patients. Nimer feels strongly that self care is imperative and he encourages everyone on his team to eat right, stay physically fit and keep their stress levels to a minimum. He considers the favorable South Florida weather a big advantage in staying healthy and recently became more involved in biking, sometimes logging more than 80 miles a day on weekends. Sylvester’s affiliation with the Miami Dolphins has led to its five year collaboration on the Dolphins Cancer Challenge. The DCC is one of the National Football League’s most successful community fundraising programs and includes a bike race, 5K and several other ancillary events. “In the five years since its inception, DCC has raised more than $11 million dollars to fight cancer, all of which has gone directly to Sylvester Cancer Center fund,” notes Michael Mandich, CEO and son of the late Miami Dolphin star Jim Mandich who passed away from cancer in 2011. “I met Stephen around the same time that he moved to Miami,” says Mandich. “I had just taken over as CEO of the Dolphins Cancer Challenge and we had a lot of the same goals in mind. In terms of biking, Stephen was a novice. I remember that he had to go out and buy a bike, but once he got going, he was unstoppable. One thing about Stephen is that he never does the minimum”. While he’s enthused about recent and major advances made in the fight against cancer, Nimer says there is still more that needs to be done. “Cancer remains one of the most pressing medical problems facing society today,” he says. According to The American Cancer Society, projections for 2016 in the state of Florida alone are for 121,240 new cases of which 43,600 are projected to become terminal. “It’s important for us all to stay strong and have a lot of energy,” says Nimer. “We still have a lot of work to do.” E —Barbara J. Perkins


MAY/JUNE 2016

21


INDUSTRY FACES NIGHTLIFE


HECTOR ANTUNEZ

CEO and Founder of the Barú Group

Photo by Nick Garcia

H

Our concept was to create a total entertainment complex, right in the heart of the Brickell area.

ector Antunez, the CEO and founder of the Barú Group, understands how important it is to stay relevant in the nightlife and restaurant business. His strategic vision for the Barú brand has been crucial for turning the Brickellborn chain into a popular hotspot known for its happy hours, laid back ambiance, and unique late night parties. His Latin bar chain, BARU Urbano, first opened in 2010 in the Brickell area and has since expanded to Doral, Midtown and Weston. This year, plans include the opening of several more restaurants, including a Kendall location in early fall. The urban sprawl in the Brickell area meant Antunez had to close his flagship restaurant in 2015, but he was excited about the opening of his new complex last November. “There has been nothing like this in South Florida. Our concept was to create a total entertainment complex, right in the heart of the Brickell area,” said Antunez. The new flagship restaurant shares space with Tucandela, a night club, and Garzon, a restaurant that specializes in Uruguayan cuisine. Antunez worked closely with Chefs Gabriela and Gabriel Medici to blend the farm-to-table movement with South American culture while offering a mixture of contemporary and classical dishes from Uruguay’s coastal cuisine. The growing South American influence has also motivated Antunez to introduce grass-fed beef directly from Uruguay to his steakhouse patrons, rather than that from Argentina, where cattle are often raised in traditional feedlots.

— Hector Antunez

Antunez believes the densely populated Brickell area will continue to attract a young and ambitious crowd looking for a finer dining and nightlife experience. With 10,000 square feet encompassing a full-service restaurant, bar, and nightclub, Antunez anticipates his establishment will be a popular destination in the ever-expanding Brickell nightlife scene. “When you come here, you will feel you are a part of the Barú family,” Antunez said about the complex. “There is no dress code. Drinks average ten dollars and we offer an incredible fine-dining experience. This is an area where people love to go out and have a good dinner. It is a high energy atmosphere,” said Antunez. Antunez is also the co-founder of D.O.G., a dog daycare and hotel that first opened in November 2012 in the Wynwood neighborhood. The facility operates a full-service daycare, overnight boarding, and grooming service for dogs. Antunez wanted to create a business that would cater to a niche in South Florida that was not being served. He recently expanded to Fort Lauderdale and there are plans for four local franchises to open this year as well. Antunez has also delved into other culinary exploits. In 2014, he became involved with a group of investors in the opening of the Pincho Factory, a skewer and burger restaurant with several locations in the South Florida area. Antunez is also a partner in NightPro, a technology startup that provides cloud-based venue management software, which is now being used by several local hotels and nightclubs. It’s safe to say that Antunez has come a long way since his days as a portfolio manager for an off-shore private equity fund. “I came here from Venezuela to study finance at Florida International University,” he said. After catching the “restaurant bug, ”Antunez says he is “excited to grow [Barú] internationally as well.” E —David Volz MAY/JUNE 2016

23


PAULO BACCHI

CEO, Artefacto 24

EXECUTIVE SOUTH FLORIDA

Photo by Maria Lankina

THE EDGE


P

aulo Bacchi’s love for Miami and family are woven together through his intimate designs. He believes that people are connected to a sense of warmth and he likes to design spaces that bring families together. From an early age, he saw how hard his father worked to build a successful company and he instills that in own sons today. He recently created The “Legacy Chair” as a tribute to an iconic piece his father produced decades ago. Artefacto also supports up and coming designers by providing space in his showrooms for their creations. Bacchi believes giving back to the community is important as well. He is designing a patient lounge at the University of Miami’s Sylvester Comprehensive Cancer Center and continues to support the Brazil Foundation which provides enrichment to artists. EXECUTIVE South Florida magazine: How did you get started in the family business? Paulo Bacchi: I started working for my family at Artefacto at a young age. My father, Albino Bacchi, started Artefacto in the late ‘70s in São Paulo, Brazil. He had started his first business in his teens and when one of his major clients was short on money, he gave my father some carpentry business to settle the debt. He began by making furniture exclusively for restaurants and eventually opened up a retail store.

EXECUTIVE: Can you talk about this year’s Design House? How was this year’s installment different from past years? Bacchi: Every year, Willman (manager for Artefacto Coral Gables) and I pick about 10 designers or so to design different model rooms, called “vignettes” like a master bedroom or a living room, using furnishings from Artefacto. We use this opportunity to display trends people will see in the upcoming year. EXECUTIVE: Please describe your recent partnership with the Sylvester Center. What does it mean to you to be involved in charitable giving? Bacchi: I have been serving for many years on the board for Brazil Foundation, which provides enrichment to artists. But I have been looking for a way to be involved with local needs in our community as well. This year I partnered with the Sylvester Comprehensive Cancer Center to design and donate a lounge for the Gail S. Posner Pavilion. It’s an important, essential need they had for not only their patients but also families. Their director—Dr. Stephen Nimer—has really influenced major changes in the center over the past few years. It’s on track to bring world-class treatments to our community.

EXECUTIVE: What lessons did you learn from working for your father? Bacchi: He’s not only taught me many skills of the trade, but what it means to be a good person to your family and friends. I also learned the importance of being openminded and always respecting others— something that is not always the case in this business. EXECUTIVE: When did you discover that you had the entrepreneurial drive to succeed in the business world? Bacchi: I fell in love with my family business almost immediately, and knew that I wanted it to be as big and successful as possible. Almost right away I felt this drive, but I knew I still had a lot to learn. As the years passed and I gained more knowledge and confidence, I was certain that I wanted to make Artefacto my family’s legacy.

Photo by Craig Denis

EXECUTIVE: Can you tell us about Arte l 5? What are some of your creative inspirations? Where do you draw your inspiration from? Bacchi: It’s actually my first collection as the leader of the company. With Arte l 5, instead of going back to the same design styles, we designed the collection around 5 moods, like an old film noir movie or a busy city life. Why 5 moods? It is because we have 5 senses. I think people always move towards natural products, so it’s a theme with Artefacto, especially in Arte l 5. EXECUTIVE: Since you opened your first store in Miami, how has the city changed? Bacchi: The city has changed tremendously. It seems that the city loves weaving more culture and art into its landscape. From the outside, I think people finally understand what Miami truly is all about. You see this with the Pérez Art Museum, Art Basel, Wynwood, and many of the new developments in downtown and Brickell.

Artefacto Jader Almeida Installation EXECUTIVE: Art Basel recently celebrated its 10-year anniversary in Miami. How was Artefacto involved this past year? Bacchi: This past year saw us bring in designer Jader Almeida’s furniture collection to the US. As Brazil’s youngest and brightest designer, he’s created quite a buzz in the industry. Artefacto will exclusively sell his first collection in the US with a shop-in-a-shop at Artefacto Home, and I am so proud of that. I knew when I saw his work that I wanted Artefacto to showcase it in America. EXECUTIVE: What do you do for fun—or just to unwind? What are some of your hobbies? Bacchi: I love traveling and cycling with my family and friends. I’m always trying to look for the next place to go with them. I have a beautiful wife, Lais, and twin boys, Bruno and Pietro. My boys just entered college and will guide the business after they finish their education. Even though they’re twins, their personalities and interests are so different from [each] other. Bruno is passionate about Artefacto’s production and finances. For Pietro, it’s the sales and marketing. It’s almost like a third generation of Artefacto and I love it. We have big plans for the future. E MAY/JUNE 2016

25


Sergio is more than a partner, he is an old friend, which makes for a wonderful partnership.

— Jimmy Tate

26

EXECUTIVE SOUTH FLORIDA


THE TIES THAT BIND Building on a century of combined family experience, Jimmy Tate and Sergio Rok are extending their real estate empire to Fort Lauderdale Beach.

True wealth is established during bad times. We believe what matters most is when you buy, not necessarily when you sell.

— Sergio Rok

By Eric Kalis | Photography by Gort Productions

MAY/JUNE 2016

27


J

immy Tate likes to talk about his relationship with business partner Sergio Rok the way you would a close friend. The two have known each other since high school and then got to know each other better during their college years. Sergio is more than a partner, says Tate, “He is an old friend, which makes for a wonderful partnership.” The Tate and Rok families have known each other for more than 50 years, when both fathers worked in the real-estate and banking industries. In time, the two sons became close, with the families enjoying social events, weddings, and vacations together. But it took a while for the two partners to create an ongoing business relationship. “We each spent our business lives working with immediate family members, a framework which rarely calls for outside partners,” says Rok. The Rok family had earned a reputation in the business community as being upfront with their business dealings and always following through on their commitments—a fundamental characteristic which Tate respected and admired. Rok felt a similar sentiment towards Tate, and when he was approached in 2008 about a specific deal that Jimmy was working on, the timing seemed right. At the time, Tate was regularly flying to Dubai to raise money for distressed real estate acquisitions. But when the market slowed in the Middle East, Tate looked for partners

closer to home. Knowing that Rok was flush with cash from the recent sale of Transatlantic Bank, he asked if he was interested in coming in as a 50/50 partner. Without hesitation, Rok said, “Let’s go for it,” and they very quickly closed their first deal together. “Our first deal together was the purchase of debt for a Publix-anchored shopping center in Coral Springs and this really became our case study,” says Tate. The partnership acquired this asset with their mutual friend and veteran realestate investor Alan Waserstein. Since that deal, the Tate/Rok joint venture has successfully closed over $700 million of institutional-grade distressed debt assets. Tate and Rok like to keep a low profile, flying somewhat under the radar over the years, despite the sustained success of their multi-generational parent companies, Tate Development Corporation and Rok Enterprises. Both largely shun the spotlight, but with the recent purchase and planned expansion of the Bahia Mar Resort and Marina in Fort Lauderdale, they are ready to play an active role in the revitalization of Fort Lauderdale beach. The iconic 39-acre property is set on the Intracoastal Waterway, a sublime parcel with views of the beach and easy access to the ocean. The marina’s docks can accommodate mega yachts and have been home to the Fort Lauderdale International Boat Show—the biggest boat show in the world—for the past 40 years.

Proposed Site Plan for Bahia Mar Resort and Marina, Fort Lauderdale Beach

Bahia Mar has seen better days and the Tate/Rok team are determined to change that. “We consider the Bahia Mar to be one of the anchors for Fort Lauderdale Beach,” says Tate. He believes that their development of the property and its surroundings will be a catalyst for growth in the immediate area. Partnering on the project is Robert Christoph Jr. and RCI Group, one of the premier marina and waterfront developers in the nation. “I am truly thankful to have Bobby (Christoph) as a partner. He has proven to be a real value, but more important to Sergio and I is that he has become a very close friend. Additional partners include Rialto Capital Management, a fully owned subsidiary of Lennar. Plans include renovation of the aging 300-room hotel, development of luxury condominiums, an outdoor village with upscale shops, and a unique spin on the traditional office environment. “The marine industry will benefit from our 245 slip world-class yachting center,” says Tate. “We are planning a permanent home for the boat show with exhibition, office, and ample parking.” The Tate/Rok team sees the area as a critical component in the ongoing redevelopment of Fort Lauderdale beach and is committed to work with city officials and planners to ensure that everyone is on board and feeling good about the process. With so much history and potential, the project’s extensive new site plans are

Rendering by EDSA

The Ties That Bind


Jimmy Tate

Chief Executive Officer & Founder, Tate Development Corporation


The Ties That Bind generating tremendous public interest. Understandable says Tate, “Bahia Mar is in our backyard. We want to make it into something the whole community can be proud of and enjoy,” and, he continues, “It will be spectacular.” For the Bahia Mar condominium component, Tate and Rok are partnering with real-estate titan Jorge Pérez and Related Group. The trio has worked together in the past, having purchased the venerable Omni Center on Biscayne Boulevard in Miami in 2011. The group paid $100 million for the existing note, envisioning a massive redevelopment for the aging retail and commercial project. What they got, three weeks after completing the transaction, was word that the Malaysia-based Genting Group was planning on making an offer to buy them out. Genting was looking to add to the center of their recently purchased Miami Herald property to increase their footprint for the planned $3 billion Resorts World Miami and swooped in to purchase the mortgage. “It was a shock to us,” says Tate. “We had planned to develop the site with high-end retail targeting cruise passengers, substantial office space, and a 250-unit condo tower developed with Related Group.” Instead, within four months, the trio and their partners pocketed $61 million for babysitting the aging landmark on Biscayne Boulevard. “Jorge Pérez is an amazing partner and mentor to me,” says Tate. He taught me a lot and was always available when called upon for advice.” “We usually had a very short window to source deals, conduct due diligence and review market analysis.” His expertise is invaluable to us and really is one of the key advantages in the deals we partner on.” “Jimmy and Sergio are very honest, hardworking partners and always make our collaborative efforts flow smoothly,” Pérez said. “We have made large investments in properties where we thought we could add significant value and, thanks to their great instincts, we have been able to achieve huge success. It is great to work with honest, smart people who are not only good partners but good friends.”

SHARED VALUES Even though they share similar backgrounds, Tate and Rok have decidedly different personalities. Tate is gregarious and outgoing while Rok is a bit more reserved. “Sergio is among the most soft-spoken Type A personalities you’ll meet,” according to Steve Sager, a former Subway master franchisee and one of Rok’s closest friends. “People beg them to be in their deals because they know 30

EXECUTIVE SOUTH FLORIDA

Jimmy, Janie Tate and Family Jimmy and Sergio can guarantee that every dime is above board and everything is being done in the best interest of their partners.” Tate and Rok have been hailed by real estate observers for recognizing the unprecedented recession-era opportunity to invest in nonperforming loans or undervalued property and create value through development, capital improvements and strong management. Both are guided by a disciplined and conservative approach inherited from their fathers: Florida real estate, banking and education pioneer Stanley Tate and the late Natan Rok, a key figure in the emergence of downtown Miami into a hub of commerce and cultural activity. The Tate/Rok joint venture has generated substantial returns for its investors, many of whom are family and lifelong friends. Both have family members working full-time at Tate Capital and Rok Enterprises. Kenny Tate, Jimmy Tate, and Stanley Tate

Rok’s family is so close that they built a group of custom homes side-by-side at Presidential Estates near Aventura. Nine Rok family members live in the community. “It just seems to work for us,” Rok said. “It’s instilled in our kids, who all grew up together.” Tate’s older brother Kenny, who is also an extremely successful real estate entrepreneur, is an equal partner on all of his real estate deals. Kenny Tate’s analytical approach complements his brother’s sales and marketing acumen. “We both bring different values to the table in our businesses and work environment,” Kenny Tate said. “Jimmy has more of a big-picture sales and marketing outlook. I’m more of a back-office type. I try to keep Jimmy out of deals I think he has no business getting into and he pushes me to stay in deals I would never do on my own. It has worked out very well for us.”


THE TATE FAMILY A developer in South Florida since the 1950s, Tate’s father, Stanley Tate, built more than 10,000 condominiums and single-family homes throughout the state. Commercial and industrial projects, leasing and consulting were also in his portfolio and by the 70’s, the elder Tate was considered one of the foremost experts on real estate in the country. His expertise was valued during the $17 billion REIT (real estate investment trust) crisis, when he was appointed by the New York Federal Bankruptcy Court as a trustee. Tate crafted a workout blueprint for an international portfolio of distressed real estate valued at more than $600 million, which equates to billions of dollars today. About 30 national and state-chartered banks were involved. In the late 1980s he was appointed chairman of the Resolution Trust Company (RTC), the agency tasked with managing and liquidating assets during the savings and loan crisis. He was also instrumental in drafting legislation that paved the way for stability and reform in banking. He was later nominated by President Clinton to be its CEO. Stanley Tate also had a profound impact on education in Florida as the founder and board chairman of the Florida Prepaid College Program from 1987 to 2005. The program is now known as the Stanley G. Tate Florida Prepaid College Program. Jimmy was not really planning on a career in real estate but he did inherit his father’s entrepreneurial spirit. While earning a bachelor’s degree in economics at the University of Florida, Tate worked in the pro shop of a family-owned golf course in Delray Beach. One of his first forays into the business world involved the purchase and resale of popular Lacoste branded clothing. “They were selling like crazy at the club, but local discount retailers were not really carrying them,” says Tate. Seeing an opportunity, he started purchasing the products in bulk and reselling them to local retailers at a discount. It was a big success and eventually led to Lacoste corporate shutting him down. Tate’s father finally persuaded him to enter the family business, which led to his first job in 1986 as project manager for High Point, an enormous condominium complex in Delray Beach. Tate was not entirely in love with the construction business, but little did he realize what the opportunity would provide. One day during his lunch break, Tate visited a local bank and asked if there were any properties the bank might be looking to sell. He expected to get a short list of foreclosed homes but was handed an extensive list of the bank’s real-estate owned

(REO) properties, including 12 waterfront residential lots in Plantation’s Jacaranda Cove community. Tate envisioned developing luxury homes and presented the idea to his brother and father. They advised him to work out a solid business plan. “Jimmy is a super negotiator now, but back then he was a little raw,” says older brother Kenny Tate. “I said let’s make a play for it and offer $250,000. He asked me how we could do that and I told him the worst that can happen is they say no; the best that can happen is they counter and we meet in the middle.” The bank eventually agreed to sell the properties for $360,000, and with an acquisition loan from their father (at a 10% interest rate), Tate Development Corporation was born. “The project was tremendously successful,” says Tate. The first home sold for $375,000, the next for almost $500,000 and when he

The company was developing condominiums, apartments, industrial parks, and commercial projects when, in 1992, Hurricane Andrew blew through the South Florida area. The Tate brothers took on the rebuilding of more than 2,000 homes and apartment complexes throughout the region, but it was a challenging time for builders. Materials were scarce, with most lumber companies selling through local distributors and then down to the building community. “We realized that we had to step up and take a more active role if we wanted to get these projects finished,” says Tate. This led to the formation of their temporary building supply distributorship, which became a supplier to other builders and developers in the community. Expanding beyond real estate, the Tate brothers launched a manufacturing business called TKO Apparel Inc. in 1996, a privately held company that they still own and which

Sandy Tate, Kenny Tate, Stanley Tate, Joni Tate, Jimmy Tate, and Janie Tate was offered $75,000 plus for the remaining lots, he was ready to jump at the opportunity. But he was convinced by his brother and father to hold on and finish what they had started. He eventually sold a few of the lots and finished development on the others. After repaying the loan from his father, he says “We still put serious cash in our pockets.” It was a pivotal play for Tate—a lesson in timing, negotiating, and strategic thinking—and one which set the trajectory for his career.

ha s e st ima t e d annual s al es of $50 million. The philosophy to expand outside of real estate is really not too difficult for the brothers, says Kenny. “All businesses are based on budgets, operating controls, and cash flow. As long as you operate it professionally with strong controls and capital resources, a company can be a success. We were also smart to hire experts in their respective fields who taught us about the business.” MAY/JUNE 2016

31


The Ties That Bind

Sergio Rok

President, Rok Enterprises


FROM CUBA TO FLAGLER STREET The Rok family story begins in Cuba where Sergio was born. Natan Rok came to Miami in 1964 and opened a modest tie store on historic Flagler Street. Starting from scratch and having no experience in retail, Rok grew the single store into a men’s clothing chain with more than a half-dozen locations. From the age of 15, Sergio was helping out in the stores and had a first-hand view of his father’s intense work ethic. “I learned early on that if you wanted to be successful, you had to work hard and be extremely diligent and focused,” says Rok. In the mid-70s, Natan Rok purchased buildings in the downtown Miami area and, over the years, assembled one of the largest locally owned commercial real estate portfolios. “My dad really enjoyed the real estate side more than the retail business,” Rok said. “He kept buying buildings for the next few years, and I headed off to the University of Florida in 1979.” Rok was joined in Gainesville by his twin brother, Benny, and close friends Steve Sager and Alan Rubin, another successful entrepreneur who founded and owns the popular cigar brand Alec Bradley. “Sergio, Benny, and I were inseparable through high school and college,” Sager said. “It felt like they were both my brothers.” The buddies were roommates and fraternity brothers. When Benny tragically died in a 1982 car accident, Rok forwent his senior year in Gainesville to finish college at Florida International University so he could be closer to his grieving family. Sager and Rubin followed suit. “It happened a week before our senior year,” Sager said. “Going back was just too difficult. We couldn’t bring ourselves to do it.” The North Miami Beach synagogue the Rok family attended and supported was dedicated as the Beth Torah Benny Rok Campus after Benny’s death, and the family has made significant additional contributions to South Florida’s Jewish community in the past 30-plus years. In fact, Natan Rok provided space for downtown Miami’s first synagogue, which was in the Rok Enterprises headquarters building. He believed the area’s growth would create a need for a larger, all-encompassing Jewish center. Sergio followed up on his father’s plan by funding the land acquisition in the Brickell area, and the eventual construction of the 25,000-square-foot Rok Family Benny Rok, Natan Rok, and Sergio Rok.

LEFT TO RIGHT TOP ROW: Benny Rok, Natan Rok, and Sergio Rok. BELOW: Evelyn Rok, Rosa Rok, and Elizabeth Rok. Shul—Chabad Downtown Jewish Center, which opened in early 2014. After college, Rok started out in the banking business taking a job as a management trainee. A few years later, his father purchased a majority interest in locally owned Transatlantic Bank where they grew the institution together. “I always wanted to work with my father and we had offices right next to each other for many years,” says Rok. “I learned many great lessons from him, specifically that you need to maintain what you have and not just focus on growth. He told me to not be too greedy and understand our portfolio and our debt.” Rok is proud to admit that in 40 years his company has honored every one of its obligations. “We repaid every penny we ever signed off on.” MAY/JUNE 2016

33


The Ties That Bind Natan Rok died in 2004, leaving Rok in charge of the family’s real estate and banking operations. The post-9/11 regulatory environment took its toll on many small banks. With that in mind, Rok started to consider selling Transatlantic. “We had a small bank, with $650 million in assets and had to spend considerable time just on compliance and auditing.” A deal was struck in 2007 to sell the bank for $187 million dollars or four times its book value. Flush with cash from the sale of the bank. Rok dived into the downtown real estate market acquiring and partnering on several properties while selling several others. His family’s involvement in the area led to Rok’s involvement with the Downtown Miami Partnership and being a board member of the Miami Downtown Development Authority for almost 20 years. “If you look at the last 15 years, downtown has finally found its time and I don’t see it stopping anytime soon.” Rok says. Recent sales to Israeli investor Moishe Mana ensure that the area is in good hands. “Moishe and I have become good friends and we get together for lunch fairly regularly. He wants the same things that I do and it helps to have him on board. One of the past problems was having too many individual property owners so you couldn’t collectively get anything accomplished.” Like Tate, Rok has seized opportunities to diversify by investing in businesses outside of real estate and banking. He is a minority owner

and beautifully designed product but because we are partnering with a wonderful person. Jamie Danburg. Jamie’s enthusiasm, energy and passion coupled with ours, makes this development truly magical,“ says Tate. “I couldn’t agree more, Jamie has been a great partner,” says Rok . Tate and Rok continue to carry on both families’ legacy of philanthropy and civic involvement. The Rok family has made many notable contributions to the city of Miami and a variety of other noteworthy causes over the years. A founding member of the Downtown Miami Partnership, Rok has also been a board member of the Miami Downtown Development Authority for almost 20 years. The Rok family donations include major gifts to Florida International University’s College of Business, the League of Cancer, and the Colitis Foundation of America. The Tate family has long supported many local charitable and civic causes. Jimmy sits on the board of trustees for Mount Sinai Medical Center and recently established the James D. and Janie E. Tate Florida Opportunity Scholars Endowment Fund for the University of Florida. He is also an advisory board member for the North Miami Police Athletic League, development committee member of Miami Country Day School, and supporter of the Humane Society of Greater Miami.

The expertise that Jorge Pérez brings to the table is invaluable and one of the key advantages in the deals we partner on. — Jimmy Tate

Jorge Pérez, Jon Paul Pérez, and Jimmy Tate 34

of a successful vitamin company as well as a local bagel and cake business, and shares an interest with Jimmy in a startup wine company. Those who are familiar with Tate and Rok are not surprised by their joint venture’s success. “They are bright guys who are very industrious and creative,” said Greenspoon Marder shareholder, Barry Somerstein, who has partnered on investments and represented the Tate/Rok joint venture in many transactions. Not every deal has gone off without a hitch, however. In early 2013, Tate and Rok agreed to acquire more than 80% of the shares of Doral-based U.S. Century Bank and all the bank’s distressed loans. The board wanted the deal and approved it. Most of the shareholders were in favor of it but there was dissent. Tate and Rok had spent more than a year putting it together. “The timing was right, but at a certain point the deal became unreasonable for us and we had to move on,” says Tate. Bahia Mar isn’t the only project outside of Miami that Tate/Rok are working on at this time. The team is developing one of the first new ultra-luxury rental communities in the west Boca Raton area. The 282 unit project has already broken ground and is slated to be finished in late 2017. “We are very excited about this new development opportunity not only because of the phenomenal location

EXECUTIVE SOUTH FLORIDA


LEISURE TIME Jimmy , Jordyn , Megan and Erin Tate on recent trip to Aspen, Colorado

Jimmy Tate at his favorite mountain retreat in North Carolina Tate relishes the time he spends with his family, so it’s no surprise that he enjoys participating in various outdoor activities with his three daughters whenever he can. He loves taking trips to cold-weather destinations for skiing and snowboarding excursions. In the summers, he takes off to his home in North Carolina for hikes and bike riding with this wife and three daughters. “Spending time with my family brings balance to my life,” says Tate. “It also helps me to decompress”.

Rok with his flag football crew. Rok is an avid golfer and plays basketball on a court at his Presidential Estates home. He recently purchased a seasonal residence in Colorado. Interestingly, Rok’s name is more synonymous with flag football than real estate or banking. A competitive flag football player for more than 30 years, Rok still plays in leagues three times a week and was inducted into the Florida Flag Football League Hall of Fame several years ago. “He’s 53 now, but you’ll never find a better athlete than Sergio,” said attorney Evan Marbin,

who has represented the Rok family since the 1980s and is a close friend and longtime flag football teammate of Rok’s. “He’s very competitive, compassionate and loyal. He carries that competitiveness with him to his business dealings.” In business and life, nothing is guaranteed. Real estate experts are quick to say that we are entering the downward curve of the latest cycle. It seems if that is the case, Jimmy Tate and Sergio Rok have the experience and capabilities to weather any storm that comes their way. E MAY/JUNE 2016

35


ANDREW ANSIN

Xavier Gonzalez CEO, eMerge Americas 22

EXECUTIVE SOUTH FLORIDA


Changing Perceptions eMerge Americas builds on its mission to establish Miami as a global technology hub. By Ron Mann | Photography by Eduardo Schneider

Photo by Eduardo Schneider

X

There’s a technology ecosystem in Miami that is constantly evolving. Our goal with eMerge from day one was to have as much of an impact as possible. — Xavier Gonzalez

avier Gonzalez chuckles after recounting a brief meeting with an attendee at last year’s eMerge conference. “He told me he loved the event and has been coming for the past five years. I appreciated the comment very much, even though it was only our second year,” says Gonzalez. “It actually shows we have built significant brand awareness in a short period of time, which is something we have looked to accomplish from the beginning.” Gonzalez, who was recently tapped as CEO of eMerge Americas, has been involved in Miami’s homegrown technology conference since its inception in 2014. Before joining eMerge he worked closely with founder and chairman, Manny Medina, at Terremark for five years, culminating in the sale of the data services company to Verizon Communications in 2011 for $1.4 billion. One of South Florida’s most successful tech entrepreneurs, Medina built Terremark from its humble beginnings into one of South Florida’s most successful companies. “The fact that it happened to be in the technology sector in a city not really known for this industry was even more astounding,” says Gonzalez. Medina had a vision that Miami could be more influential as a technology hub, but needed to take a more active role in moving things along. He envisioned a conference or series of events that would act as a catalyst for awareness and growth among the global technology community. After taking some time off after the sale of his company, he approached Gonzalez and the two started the planning process for the first eMerge Americas conference in 2014.

“I was essentially employee number one,” says Gonzalez, “But it was the Knight Foundation that really made eMerge happen. Their early support from a financial standpoint was a key component, but what was more important was the credibility that came along with the investment.” Back in 2012, we launched an effort to help support Miami startups and entrepreneurs,” says Matt Haggman, Miami Program Director for the Knight Foundation. Our aim was to focus on attracting new interest to Miami’s rising startup community and we saw eMerge has a key collaborator in that effort.” Having Knight on board also made it easier to get local government to buy into the event. Miami-Dade County, and more specifically, Mayor Carlos Gimenez, saw the immediate impact that an event such as eMerge could have on the community and came on board in the beginning as a founding partner. The first year even included a Mayoral Innovation Summit with mayors from Latin America, the Caribbean, and Europe taking part. The eMerge team is comprised of 12 full-time employees throughout most of the year and grows as it gets closer to the conference. Among a core group of staffers is Melissa Medina, VP Business Development who remembers her father talking to her about transforming Miami’s tech ecosystem back in 2011. Both Gonzalez and Medina were involved in the initial challenges of “selling a vision” before there was anything to show. “Planning the first conference was challenging, because every detail had to be created from scratch,” says, Melissa Medina.” There were no events of its kind here in Miami and we initially relied heavily on our contacts and relationships. We saw the positive trend with technology in the region and we wanted to tap into that market.” MAY/JUNE 2016

37


Join us for South Florida’s most prestigious charity golfing event. Gain access to this world-class, private golf club and network with top business executives, all while raising funds to equip over 45,000 South Florida students with critical financial literacy skills.

Corporate Foursome $3,000 and will sponsor 150 children. Other sponsorship available, contact

Mariana at mfurchi@jamiami.org

“Empowering young people to own their economic success”. For more information contact Mariana Furchi at mfurchi@jamiami.org or call 305-687-3977 To learn more about Junior Achievement visit www.jamiami.org


While founder Manny Medina is still very active in the day-to-day operation of the event, he has handed over some of the reigns to his key management team. “I take great pride in witnessing the tremendous growth of Xavier and Melissa who represent the future in taking our mission to the next level, says Medina. Gonzalez also adds that from day one, he and Melissa have shared a common vision for what eMerge is and what it will become. “We are aligned and very much invested in producing the best experience possible for attendees and participants.” Gonzalez grew up in Miami and attended the University of Florida for both his undergraduate and graduate degrees. Prior to joining eMerge, he was Vice President of Corporate Communications for Terremark and oversaw media relations, large-scale events, and global external communications for the company. Gonzalez was promoted to the CEO role in December 2015, after serving as Executive Director. His role as CEO puts him in charge of all operations, including marketing, content, finance, legal, and human resources. In the lead-up to the first conference, the team was not only charged with finding a venue, locating sponsors, and attracting engaging speakers, they also had to convince the local business community that this was something they wanted to see and attend. “Miami has made significant strides in the tech sector since we began discussing the conference back in 2012,” says Gonzalez. “The Knight Foundation has had a lot to do with that, but I also want to credit many of the areas universities as well.” Gonzalez has seen an increase in the number of technology and research programs now available at the region’s major colleges. “The schools are accommodating more for tech in order to keep up in the recruiting process. Producing higher-level talent is more important than ever before if we are going to entice the large technology companies to move into the region. It is imperative that we create a viable industry for these students to move into. If not, we will lose them to other cities after they graduate.” The local market has also seen an uptick in technology startups, with many of these entrepreneurs coming from other countries. The inaugural conference in 2014 attracted over 6000 attendees from 30 different countries and that number rose to 10,000 from 50 countries last year. “The world sees Miami as an emerging hub for tech, but we are still building the commitment and momentum locally,” says Gonzalez. “I recently met with two investors who moved here from Argentina and several from Brazil.” Gonzalez and his team see eMerge as a major bridge for local and national investors.

eMerge team rings the NASDAQ closing bell during the 2015 conference Miami’s collaborative nature as a community is also one of the catalysts for growth in the nation’s booming technology sector. Gonzalez sees the lower cost of living and no state income tax as adding to the attractiveness of the area. Gonzalez and his team are planning for this year’s conference to be the most innovative yet. Taking place a few weeks earlier than usual on April 18–19, the plans include a slate of speakers, programs, and events that they believe will have a wider appeal than in past conferences. Gonzalez knows that technology has changed the way people work in an array of industry sectors now; that just wasn’t the case a few years ago. Industries such as education, healthcare, banking, media, government services, etc. are all integrating more technology into their infrastructure and eMerge wants to make sure that attendees find value and relevance for their own respective fields. A noted speaker this year will be Google Director of Engineering, Ray Kurzweil, a world renowned inventor, futurist, and author of numerous bestsellers. He is a leader in artificial intelligence development and was the principal inventor of the first print-to-speech reading machine for the blind. He holds 20 honorary doctorates, a National Medal of Technology, and was recently inducted into the National Inventors Hall of Fame. Additional keynote speakers include former Secretary of State, Colin Powell, AOL Founder Steve Case, Monica Lewinsky, and skateboard legend Tony Hawk. They will join over 100

additional thought leaders, innovators, authors, and motivational speakers for the two-day event. Miami native Armando Christian Perez, better known as “Pitbull,” will once again take center stage on the afternoon of Day Two. A constant presence for the past two years, Perez will take part in a fireside chat along with NBCUniversal Chairman, Cesar Conde, and CNBC Chairman, Mark Hoffman. As a show of deeper support, Perez joined investment firm Orkila Capital and an impressive group of other notable Florida leading business leaders in making a strategic financial investment in eMerge Americas. They include baseball player Alex Rodriguez, billionaire Mike Fernandez, Brian Ballard, Bob Dickinson, and founder Manny Medina. The plan for 2016 includes two main stages for speakers and others set up around the expo floor. The popular Startup Showcase has also evolved and now includes over 100 entrepreneurs competing for investors and recognition. This year’s participants represent 15 countries and are also provided with assistance on financial planning and presentation skills at a complimentary boot camp in conjunction with Venture Hive. The very well attended Woman, Innovation and Technology Summit and Government Innovation Forum will also be back with an exciting slate of panels and speakers. Upping the experience quotient, Gonzalez and his team are relying on feedback from past attendees, sponsors, and exhibitors to MAY/JUNE 2016

39


ensure the conference is constantly evolving. “We have a couple of years under our belts now, “says Gonzalez. “We learned what they liked, disliked, and wanted to see more of. We look at the different demographics and try to provide substantive and impactful content.” Gonzalez also wants to surprise attendees, if possible. A great example was last year’s Woman, Innovation and Technology Summit keynote speaker, Martine Rothblatt, founder

of Sirius Satellite Radio and biotech firm, United Therapeutics. “We were not prepared for the incredible presentation that Martine delivered last year,” says Gonzalez. “She literally blew everyone out of the water and that is exactly what we are trying to do.” The “wow-factor” aside, one of the initial goals of eMerge was to change the perception of Miami. Gonzalez likes to say that eMerge is a global event that just happens to be here

in Miami. He wants to grow the event, but not just the total number of attendees. “We want an attendee to come and then maybe bring 2–3 others the next year. Then maybe they become a sponsor or speaker.” At the 2016 kick-off event at the Moore Building several months ago, he overheard someone say that she couldn’t wait for eMerge to come this year. “I smiled,” he said, ”And then I told her she would not be let down.” E

We had to think and act quickly, but our team evolved and you can see the results today. EXECUTIVE: What are some of the things you are proud of with the evolution of the conference?

MELISSA MEDINA VP Business Development, eMerge Americas

Melissa Medina remembers when her father first mentioned his idea for eMerge Americas. His plan to transform the perception of Miami as a technology hub was born out of the successful growth and eventual sale of Terremark. She has been involved since day one and credits her father’s determination and perseverance as a driving force in her success. EXECUTIVE South Florida Magazine: When did your father first tell you about his plans for eMerge? Melissa Medina: My father first spoke to me about this idea of transforming Miami’s tech ecosystem back in 2011. I was part of that conversation well before eMerge even had a name. It is incredible to think back to the day that he first mentioned this idea to me and then fast forward to today and realize how far we have come. EXECUTIVE: How difficult was it to plan an event from scratch? Medina: Planning the first event was the most challenging because we had to literally develop every detail, from the venue to the content and branding. That first year, we were selling a vision and our sponsor and partners had to believe that we would deliver. It was well over two years of planning and I give kudos to our amazing and dedicated team that first year. We set high goals for ourselves and exceeded all expectations. EXECUTIVE: What were some of the early challenges you had to overcome? Medina: We learned the ins and outs of everything that goes into planning a successful event and there were definitely mistakes made along the way.

Medina: We had more than 6,000 people attending in year one, but we realized that women represented a very small percentage. Our incredible content director, Mariana Lopez, approached us with the idea of a female-focused summit. The idea was to create a platform where we could showcase dynamic and innovative women. They didn’t necessarily have to be in technology, so we tapped into the arts, media, fashion, and other industry sectors. Thus, the Women, Innovation and Technology (WIT) Summit was born and we doubled our female attendance in one year. In fact, it’s become so successful that now we are hosting WIT events every month leading up to the main event, and I think that just speaks to what eMerge Americas has become—it’s not just a conference any more, it’s a movement. EXECUTIVE: Your father has been very successful in his career (real estate and technology). What are some of the lessons you have learned from him? Medina: My father has always been an amazing parent and mentor, but I don’t think that I realized how truly blessed I am to have been raised by such an incredible man until later in life. Before that, I thought of him as just my dad. I realize now that I was raised by a role model and mentor who taught me about sacrifice, determination, and perseverance. I think that the most important lesson/advice that my father has ever taught me is that “Your word means everything”— basically, your word is golden and your reputation is everything. EXECUTIVE: You are also very involved in charity and philanthropic work. What are some of the organizations you work with? Medina: I am the President of the Medina Family Foundation, through which we directly help local non-profits that impact our community in education and youth. The Medina Family Foundation is like another one of my children as well. Through the Foundation, we support various groups in our community, including Miami Children’s Hospital, Voices for Children, FIU Aquarius program, Raices de Esperanza, United Way, Big Brothers Big Sisters, and the SEED school, which we helped bring to Miami and opened about a year ago. I’m passionate about giving back to the community that has given me so much. I get my children involved; and again this all goes back to the way my parents raised my brother and I. No matter how little or how much you have, it is important to give back whatever you can. E

MAY/JUNE 2016

41


The COMO Way From island elegance to cosmopolitan flair, Crawford Sherman and his team redefine the luxury experience.

By Barbara J. Perkins | Photo by Gort Productions

Crawford Sherman, Regional Director for COMO Hotels and Resorts; and Javier Beneyto, General Manager for Metropolitan by COMO 42

EXECUTIVE SOUTH FLORIDA


MAY/JUNE 2016

43


C

The COMO Way

Infinity Pool, Parrot Cay

Gazebo dinner on the beach, Parrot Cay

44

EXECUTIVE SOUTH FLORIDA

with Singaporean billionaire businesswoman and founder Christina Ong. “I was invited down to Parrot Cay for dinner and basically never left,” says Sherman. “Parrot Cay is truly unique and there is no place like it. We are not a Four Seasons or a Mandarin Oriental. We don’t have manuals to refer to. If a guest has a specific request or a situation arises, we will do our best to accommodate.” A favorite destination for celebrities and other A-Listers, the secluded location also provides a sense of privacy and discretion for its guests. “We maintain our own security by land and by sea,” says Sherman. “You won’t see paparazzi lurking around by any means.” Considered among the world’s best resort collections, Singapore-based COMO Group owns 13 luxury retreats around the globe. In addition to Turks and Caicos, the company has developed outposts in locations as Bali, Bhutan, Phuket, and the Maldives. Their urban Hotels Collection includes high-end spots in Perth, London, Bangkok, and most recently, on Miami Beach with the complete renovation of the famed Traymore Hotel, which was renamed Metropolitan to align with their current brand.

Photos courtesy of COMO Hotels and Resorts

rawford Sherman likes to tell a story about a well-known billionaire who comes to Parrot Cay to escape. The somewhat famous financier told him that out of all of the resorts and private getaways around the world, he feels most comfortable relaxing under the thatched roof of this completely sublime island resort. A private 1000-acre island resort, Parrot Cay is located about 35 minutes by boat from Providenciales, the main island in the Turks and Caicos—an archipelago of eight principal islands and 40 smaller cays. The island’s tourism industry came late compared to many of its Caribbean neighbors, which fortunately has saved it from high-rise hotel construction. Private homes and relaxed vacation spots make up the bulk of its tourism, with Parrot Cay representing one of the more exclusive enclaves among the islands. Sherman is the Regional Director for COMO Hotels and Resorts and has complete management and operational control over the property. A 37-year veteran of the hospitality industry, Sherman was born in Virginia and educated in some of the finest schools in Europe. He was encouraged to join COMO 13 years ago after meeting and spending time


Tamarind bedroom with beach view, Parrot Cay

“It took several years to make the Metropolitan happen,” says general manager Javier Beneyto. “When I arrived, it was just a shell. We did a complete renovation. It was challenging for us. The hotel dates back to the 1930s and we wanted to make sure that we kept the architectural significance intact.” The hotel also boasts one of the only pools located directly on the beach. “More and more we saw the opportunity to include the Metropolitan as a destination either before or after our guests come to Parrot Cay,” says Sherman. A quick 70-minute flight from Miami, most guests do come through the city on their way to the island and COMO sees it as way to increase awareness and visibility. Set along a porcelain white beach, the five-star property offers breathtaking views and deluxe accommodations. One of the mainstays of Parrot Cay’s attraction is its unparalleled focus on the luxury experience. In addition to a main house with generously sized ocean-facing rooms, the resort boasts an array of ultralavish private villas and amenities to match. Its one and two-bedroom beach houses include private pools, personal butler service, and exclusive access to the resort’s impeccably

Tamarindpool pooland andvilla, villa,Parrot ParrotCay Cay Tamarind maintained beaches. The décor is Indonesian style with teak furnishings, and soft white cottons covering the chairs, cushions, and four-poster beds. On-site restaurants are known for healthy cuisine, with guests benefitting from the personalized COMO Shambhala menu. Designed to maximize energy and wellbeing with the use of raw foods rich in living enzymes, vitamins, and sea minerals, the restaurants promote fish on most menus and offers alternatives to dairy and artificial sweeteners. Parrot Cay joined the farm-to-table movement a few years ago, and working with the resorts’ landscape architects, Sherman recently converted a portion of the island’s 1000-plus acres into an active and productive coconut plantation. “The rich topsoil has proved to be a

Lotus Restaurant, Parrot Cay

MAY/JUNE 2016

45


The COMO Way Shambhala Retreat, Parrot Cay

COMO HOTELS AND RESORTS WAS FOUNDED BY CHRISTINA ONG, BASED IN SINGAPORE. PROPERTIES INCLUDE: The Halkin by COMO, London Metropolitan by COMO, London Metropolitan by COMO, Bangkok Metropolitan by COMO, Miami Beach Parrot Cay by COMO, Turks and Caicos Cocoa Island by COMO, Maalifushi Maalifushi by COMO, Maldives Point Yamu by COMO, Phuket, Thailand Uma by COMO, Ubud, Bali COMO Shambhala Estate, Bali Uma by COMO, Paro, Bhutan Uma by COMO, Punakha, Bhutan COMO The Treasury, Perth, Australia www.comohotels.com

perfect environment for growing some of our own fruits and vegetables,” says Sherman. The COMO Shambhala spa experience combines Asian-based therapies, nutrition, exercise, and yoga in state-of-the-art facilities. Included among the nine fitness and relaxation rooms are a fully staffed Pilates studio, steam room, sauna, and infinity pool overlooking the North Caicos Channel. Massage therapists are trained exclusively by COMO to provide a nurturing experience for mind, body, and spirit. Occupancy rates have been increasing every year since Sherman arrived, but what excites him these days is the surge in family bookings. “We used to be more of a destination for couples, but many are now coming back with their families in tow.” Over 20% of Parrot Cay bookings now include families and the resort has added amenities such as kayaking, fishing, snorkeling and sunset cruises to accommodate that trend. But the serenity and tranquility that Parrot Cay offers remains the star attraction. “We cater very often to the single professional or executive that simply needs to get away. One woman came to me at the end of her family vacation and said she needed to book another five nights - just for herself. She had spent a week with her in-laws, husband, and kids and needed some decompression time. In addition to private villas and luxury rooms, guests have the opportunity to rent a 46

EXECUTIVE SOUTH FLORIDA

private home on the island. COMO has been active in the construction of several private homes, with residents having access to resort facilities, dining, and other amenities. “We have the utmost respect for our owners’ privacy,” says Sherman. The resort can provide private chefs, housekeeping, and even butler service if necessary. “It all depends on the needs of the guests.” Sherman also reports an increase in executives booking corporate retreats and getaways. Most recently, Sherman and his senior managers have been updating and renovating their conference and meetings facilities in order to attract more of these groups. “We offer the best of both worlds for the company that wants to have an offcountry meeting,” says Sherman. “A quick flight from Miami, you can be at the resort in just a few hours.” COMO is also looking to include their Miami Beach property more and more in their guests’ travel and vacation plans. “For our corporate guests especially, the Metropolitan brings the COMO experience to an area that is not really known for fivestar service,” says Beneyto. The 74-room contemporary hotel will celebrate its second anniversary this year and they are seeing an increase in regular Parrot Cay guests. “Once people get to know us, they really appreciate the service.”

Beach Sunrise, Metropolitan by COMO


“Miami Beach is usually known more for its nightlife and dining, but we are just north of the hustle and bustle of South Beach, so it is much quieter and relaxed,” Beneyto explains. “We see guests come here to enjoy what Miami has to offer, spend a few days, and then head off to Parrot Cay to relax. That is fine with us as long as we are able to extend the COMO way throughout their entire trip.” This really is the case, says Sherman, “Between Parrot Cay and Miami we share guests—particularly those that reside on the east coast. During the winter, for a quick getaway they’ll come to Miami for a weekend. There is a private pool, a worldclass spa, and our same signature personalized service. Whichever resort is chosen is almost beside the point. We just want to be able to handle the entire experience for our guests.”

Hydrotherapy Pool, Metropolitan by COMO

Whatever we can do for our guests—we do. It’s the COMO way.

— Crawford Sherman

In the summer, a lot of South American guests fly into Miami. They’ll spend a few days there, do some serious shopping, and then go to Parrot Cay for a big family vacation. “Our guests may do some shopping in Miami and they don’t want to carry those bags to the island. We’ll hold the bags and then deliver them to the airport, meeting our guests who return to make their connecting flights home. It’s the COMO way.” E

Ocean View Suite, Metropolitan by COMO

The Traymore Restaurant and Bar, Metropolitan by COMO

JUNE/JULY 2016

45


BE INSPIRED BY INNOVATORS COLIN POWELL, TONY HAWK, MONICA LEWINSKY, @THE B2B TECH EVENT

125+ STARTUPS 150+ SPEAKERS 500+ COMPANIES 10K+ ATTENDEES GET YOUR TICKETS @ emergeamericas.org

FOUNDING PARTNERS:


FORT LAUDERDALE City Report 2016

VENICE

OF AMERICA

+Fort Lauderdale Builds its Business Sector +Residents Moving into Downtown Corridor +Uptown District is Expanding its Commercial Base +Beach Gears Up for Significant Growth


SHOT ON LOCATION AT HYDE BEACH KITCHEN + COCKTAILS

SHOT ON LOCATION AT HYDE BEACH KITCHEN + COCKTAILS


HYDEBEACHHOUSE.COM

T 954.440.7811 ®

Related Realty & Key International Sales in collaboration with Fortune Development Sales Oral representations cannot be relied upon as correctly stating representations of the developer. For correct representations, make reference to this brochure and the documents required by Section 718.503, Florida Statutes, to be furnished by a developer to a buyer or lessee. This offering is void where prohibited by law. Your eligibility for purchase will depend upon your state or territory of residency. This Condominium is developed by PRH 4000 SOUTH OCEAN, LLC (“Developer”). This offering is made only by the Prospectus for the Condominium; no statement should be relied upon if not made in the Prospectus provided to you by the Developer. Developer expressly reserves the right to make modifications, revisions, and changes to the Condominium design and to amenities as the Developer deems desirable or necessary as a matter of code compliance, or otherwise. Developer, pursuant to license or marketing agreements with each, has a right to use the trade names, marks, and logos of: The Related Group, SBE Licensing, LLC and SBE Hotel Group, LLC, which licensors are not the Developer. HYDE® is the registered trademark of SBE Licensing, LLC. In the event the license to use HYDE® terminates, or is not renewed, HYDE can no longer be associated with the Condominium. Any art depicted or described may be exchanged for comparable art at the Developer’s discretion. Consult the Prospectus for all terms, conditions, specifications, and Unit dimensions. This condominium is not beachfront.  Reproduction for private or commercial use is not authorized. 2015 ® PRH 4000 SOUTH OCEAN, LLC, unless otherwise noted, with all rights reserved.


CONTENT 7 WHERE OLD MEETS NEW: STRANAHAN HOUSE

As the area surrounding the historic Stranahan House continues its transformation, Broward’s oldest standing structure remains on solid ground.

9 STATE OF THE CITY

Broward County’s largest city is undergoing a dramatic transformation. City officials weigh in on the dynamic growth and offer an insider’s look into Fort Lauderdale’s future.

14 ECONOMIC DEVELOPMENT

With steady job growth, low unemployment and a focus on economic diversity, Fort Lauderdale shows no signs of slowing down.

20 MARINE Known as the “Yachting Capital of the World”, we take a look at the marine industry and economic impact of the Fort Lauderdale International Boat Show.

CITY REPORT 2016

PRESIDENT & PUBLISHER

Ron Mann rmann@executivesouthflorida.com

EDITOR

Barbara J. Perkins bjperkins@executivesouthflorida.com

CREATIVE DIRECTOR Lourdes Guerra

CONTRIBUTING WRITER Eric Kalis

MARKETING MANAGER Liudmila Leonova

©2016. The Fort Lauderdale City Report is produced exclusively by EXECUTIVE South Florida magazine. All rights reserved. Reproduction in whole or in part of any text, photograph, or illustration without the written permission of the publisher is strictly forbidden. EXECUTIVE South Florida magazine is published 9 times per year by South Florida Executive LLC. 800 Brickell Avenue, Penthouse One, Miami, FL 33131. To order a subscription, please call 305.735.2873. For more information, please contact: info@executivesouthflorida.com.

22 REAL ESTATE

From the beach to downtown, Fort Lauderdale’s residential and commercial industries are booming.

30 TRANSPORTATION

32 HOSPITALITY Tourism numbers are up across the board as the city braces for North Beach expansion.

39 NIGHTLIFE

With new restaurants, bars and a vibrant music scene, life after dark is better than ever.

4

CITY REPORT

Photo courtesy of the City of Fort Lauderdale

With billions being planned for airport and seaport expansion, the city is focusing on new infrastructure improvements in its downtown corridor.


SUPERIO R LOCATIO N. LARGE R RE SIDE N CE S. STARTIN G AT $ 1.2 MIL L I O N

FOR

T LA U

DER

A RT I S T C O N C E P T UA L R E N D E R I N G . D E V E LO P E R M AY C H A N G E W I T H O U T N OT I C E .

DAL

E B EAC H

ONLY 9 5 BE AC H F RON T RE SID E N CE S OV E R 75 % SOLD U N D E R CON STRUCTION

2 B e d rooms , 3 Bedro o m s a n d 4 Bedro o m s Ava i l a bl e

PA RA MO U NTre s i d e n ce s . co m / 95 4 .71 9.62 99 SA L E S GALLERY: 3 020 NE 3 2ND AVENU E, SU I TE 117, FORT LAU DERDALE, FL. ORAL REPRESENTATIONS CANNOT BE RELIED UPON AS CORRECTLY STATING THE REPRESENTATIONS OF THE DEVELOPER. FOR CORRECT REPRESENTATIONS, REFERENCE SHOULD BE MADE TO THE DOCUMENTS REQUIRED BY SECTION 718.503, FLORIDA STATUTES, TO BE FURNISHED BY A DEVELOPER TO A BUYER OR LESSEE. THIS OFFERING IS MADE ONLY BY THE OFFERING DOCUMENTS FOR THE CONDOMINIUM AND NO STATEMENT SHOULD BE RELIED UPON IF NOT MADE IN THE OFFERING DOCUMENTS. THIS IS NOT AN OFFER TO SELL, OR SOLICITATION OF OFFERS TO BUY, THE CONDOMINIUM UNITS IN STATES WHERE SUCH OFFER OR SOLICITATION CANNOT BE MADE. PRICES, PLANS AND SPECIFICATIONS ARE SUBJECT TO CHANGE WITHOUT NOTICE.

SALES AND MARKETING BY


The CiTy you Never WaNT To Leave

Fort Lauderdale is nationally recognized as a Top 10 City in key economic, sustainability, transportation, and quality-of-life categories.

All-America City - National Civic League Top 10 Best Downtowns - Livability.com Top 10 Most Exciting Cities in America - Movoto National Real Estate Top 10 Greenest Mid-Sized Cities - MyLife.com Top 10 Best U.S. Cities for Small Businesses - Biz2Credit.com Most Diverse City in Florida - WalletHub Top 10 Small American Cities of the Future - Foreign Direct Investment Magazine Top 10 Most Exciting Places in Florida - Movoto National Real Estate Top 10 Best Cities for Millennial Job Seekers in Florida - Nerd Wallet Top 10 Digital Cities in America - Govtech.com Best of the Web Award - Center for Digital Government Top 10 Most Affordable U.S. Travel Destinations - SmartAsset.com

www.fortlauderdale.gov


CITY REPORT: WHERE OLD MEETS NEW

WHERE OLD MEETS NEW: Stranahan House

F

Historic structure remains an integral part of evolving Downtown Fort Lauderdale

ort Lauderdale’s past, present, and future converge along the New River in the heart of the city’s booming downtown. Nestled between the iconic Riverside Hotel and Related Group’s Icon Las Olas project is the Stranahan House, Broward County’s oldest standing structure. The two-story, 2,000-square-foot house, constructed with Dade County pine and recognizable for its bay windows and wide front steps, is owned and operated by the nonprofit Historic Stranahan House Museum. Next to a riverfront plaza, the museum is a popular spot for weddings and special events. Visitors also learn how Fort Lauderdale evolved to become the “Venice of America.” “The juxtaposition of old and new is a microcosm of what’s happened all over Fort Lauderdale,” said architect Leo Hansen, president of the museum’s Board of Directors.

Photos by Andy Royston

A HOUSE IS BUILT Stranahan House was built in 1901 by Ohio native Frank Stranahan, who came to the area eight years earlier to manage his cousin’s camp and ferry at Tarpon Bend on the New River. By the time the structure was constructed, Frank had established a successful trading business with the Seminole Tribe. His wife, Ivy, was a teacher who offered informal lessons to Seminole children at the trading post and developed a lifelong friendship with the tribe. “Ivy would bring Seminole children their first pair of shoes to go to school,” said museum executive director April Kirk. “She later became a suffragist, an advocate for the Everglades, and

a founding member of the Fort Lauderdale Womans Club. She was progressive in her thinking and lifestyle.” At first, the lower floor of the house operated as a trading post and the upper floor a community hall. By 1906, Frank’s business expanded enough to justify the construction of a larger building. The house was then renovated as a residence for the Stranahans. Not long after the 1911 incorporation of Fort Lauderdale, the house went through a second major renovation. An interior staircase, electrical wiring, and plumbing were installed. By that time, Frank was a major landowner in the city and donated parcels for numerous public projects. Following Frank’s death in 1929, Ivy rented out rooms in the home and stayed in the attic. She eventually leased the lower floor to a series of restaurants. Ivy remained active in the community, serving as a long-term member of the city’s Planning and Zoning Committee, establishing the Friends of the Seminoles and founding Broward County chapters of the Red Cross and Campfire Girls. A member of the Seventh Day Adventist Church, Ivy left the house to the church after her death in 1971. The popular Pioneer House restaurant continued to operate on the site until 1979, but the property transfer to the church put the future of the house in question.

SUCCESSFUL RESTORATION In 1973, Stranahan House was listed in the National Register of Historic Places. One year later, George English, a friend of the Stranahan family, acquired the property from the church

for $50,000. English then deeded the property to the Fort Lauderdale Historical Society. The closure of the Pioneer House restaurant allowed the Fort Lauderdale Board of Realtors and the Historical Society to plan the restoration of Stranahan House to its 1913–1915 conditions. “We had to raise funds and do all the architectural development,” according to Sandy Casteel, a former president of the Stranahan House Board of Directors and longtime historic preservation advocate. “Work started in 1980 and wrapped up in 1983. As fundraisers, we had a Demolition Ball, a Construction Ball the next year, and a Celebration Ball when the project was finished.” Stranahan House was reopened to the public in early 1984.

LOOKING FORWARD As the area around Stranahan House continues to transform, the non-profit’s Board of Directors and staff are exploring strategies for improvements to the site.“In the next two years we will do a lot of exterior restoration because of the changes going on next door,” at the Icon Las Olas site, Casteel said. After the successful resolution of a protracted building rights dispute, Miami-based Related Group, has moved forward with the 42-story Icon Las Olas high-rise. The builder Moss & Associates has been able to work in tandem with Stranahan House officials to ensure construction is not disruptive to the museum. “Stranahan House has been hidden behind a fence for a long time,” says, Hansen, who hopes that when the fence comes down an opportunity may arise to present Stranahan House as the epicenter of Fort Lauderdale. FL FORT LAUDERDALE 2016

7


In today’s global business environment, service is essential, security is vital, and time is more valuable than ever. That’s why business travelers and general aviation professionals depend on Fort Lauderdale Executive Airport (FXE). Owned and operated by the City of Fort Lauderdale, FXE offers a diverse range of aviation services and amenities that include: • • • • • • • •

4 Full Service Fixed-Base Operators A 24-hour FAA Air Traffic Control Tower U.S. Customs & Border Protection Service Aircraft Rescue and Firefighting Station Downtown Helistop with Lobby Instrument Landing System 24-hour Contract Security A 200-acre Airport Industrial Park

FORT LAUDERDALE EXECUTIVE AIRPORT 6000 NW 21st Avenue

| Fort Lauderdale, FL 33309 | 954-828-4955 | WWW.FLYFXE.COM


CITY REPORT: STATE OF THE CITY

STATE OF THE CITY Photo courtesy of the City of Fort Lauderdale

Fort Lauderdale with a population of 181,530 is the largest city in Broward County and the eighth largest in the state. Known as the “Venice of America” for its scenic connected inland waterways and famed for its sandy beaches, the city is fast becoming established as a world-class business center with an increasingly diverse economy. That economic diversity is enabling Fort Lauderdale to affirm its position as a regional leader in employment says Fort Lauderdale Mayor John P. “Jack” Seiler. An attorney, Seiler served for eight years in the Florida House of Representatives. In January 2015, he was elected to a third term as Fort Lauderdale mayor. In an interview, Seiler provided insight regarding the city’s growth, economic development initiatives and priorities going forward. COMMUNITY PROFILE CITY BUDGET AND TAX 2015 LOCAL PROPERTY TAXES 2016 Fiscal Year

Municipal Millage Rate: 4.1193

TOTAL ASSESSED VALUE OF TOTAL TAXABLE VALUE OF PROPERTY IN THE CITY PROPERTY IN THE CITY $28.5 billion

$26 billion

Budget: $593,778,698 Total Millage Rate: 10.0004

Source: City of Fort Lauderdale

DEMOGRAPHIC COMPARISON: 2015 ESTIMATES

City of Fort Lauderdale

POPULATION

181,530 1,748,066

HOUSEHOLDS

74,786 667,578

POPULATION GROWTH PROJECTION (2010-25)

3.40%

1.4%

AVERAGE HOUSEHOLD SIZE

2.29

2.69

MEDIAN HOUSEHOLD INCOME

$49,863

$63,300

MEDIAN AGE - TOTAL POPULATION

42

39

Broward County

Source: Greater Fort Lauderdale Alliance

FORT LAUDERDALE 2016

9


CITY REPORT: STATE OF THE CITY

MAYOR

I’ve been here since the 1960s… it’s a city you never want to leave.

—Mayor Jack Seiler

EXECUTIVE South Florida: What makes Fort Lauderdale unique?

Mayor Jack Seiler: It is probably the most convenient city anywhere. It’s a city that has a tremendous amount of opportunity and prosperity. I was talking with AutoNation CEO Mike Jackson, and he mentioned the convenience of living on the water, being five minutes away from his headquarters downtown and minutes from the airport, seaport, great restaurants, and cultural amenities. It makes for a great city when you have that convenience. I’ve been here since 1960, and commissioners McKinzie and Rogers have been here their whole lives. Commissioner Roberts was the police chief for six years… it really is a city you never want to leave. EXECUTIVE: How has Fort Lauderdale become a regional leader in employment? Seiler: We have the right blend of public and private partnerships, whether it’s at the airport, the I-595 expansion or the seaport. The focus is on getting things done without being concerned about who gets the credit. Tourism is also a tremendous industry for us. The marine industry took a hit during the recession and now has come back strong. It is a critically important industry in Fort Lauderdale. The city has worked closely with developers on new and existing projects to encourage more of a live/ work/play lifestyle for residents. We encourage redevelopment while protecting existing residential neighborhoods in order not to make them too dense. There are probably 70 plus individual neighborhoods that all have their own distinct feel and flavor. The city has always respected and preserved that. 10

Photos courtesy of the City of Fort Lauderdale

JOHN P. “JACK” SEILER

CITY REPORT

Mayor Jack Seiler We are focused on making sure our parks and recreation programs are the finest anywhere. We’ve expanded and improved several parks. There’s also an emphasis on preserving our beaches and Riverwalk. There’s a real emphasis on development and redevelopment while preserving the quality of life. The day I got elected [in 2009] I talked about jobs, jobs, jobs. It is so wonderful to see we are leading urban areas in the state in low unemployment. We are lower than our neighbors to the north and south and lower than the state and national averages. EXECUTIVE: How do you see your role in the relationship between government and business? Seiler: The number one role of government is public safety. Typically as we interact with businesses that does not become an issue. For the business interest, we want to facilitate prosperity and the success of businesses as long as it doesn’t infringe upon public safety and the quality-of-life element. That’s the approach we’ve taken. We find you can do a lot of good with that kind of guiding principle. So we try to expedite the permitting process and facilitate the expansion, relocation, and enhancements to the businesses here in the community. EXECUTIVE South Florida: What are your top economic development priorities right now? Seiler: From the city’s standpoint it’s our transportation network. That means all of our transportation options including airports, seaport, waterway and land transportation must work together. The areas set


aside for pedestrian and bicycle riders must work as well. We’ve really focused on being a city that is not about moving cars anymore; we have to move people around Greater Fort Lauderdale. It has been an interesting transition from cars to transit. We’re also looking at infrastructure improvements to be more sustainable and we are taking the initial steps to prepare for climate change and rising sea levels. There’s also general economic development, making sure we promote, retain and expand existing businesses. We have an active business development program and strong partnership with the Chamber of Commerce and Greater Fort Lauderdale Alliance. We work closely with those groups. We also work closely with our Community Redevelopment Agency to generate economic activity. EXECUTIVE: What does the city want to accomplish over the next decade? Seiler: We want to be a more resilient and sustainable community. That’s our common goal. We want to lead the state with the lowest unemployment rate, most consecutive months of tourism growth, and highest occupancy rates in hotels. We want our airports to continue to grow and prosper. The goal is to be the best city to live, work, play, visit and raise a family. To accomplish that, we need to maintain our balance. We want good

development and redevelopment that works with the community. We encourage all developers to work with their neighbors on enhancements and to get community support. EXECUTIVE: Is the city providing—or planning to provide—the infrastructure necessary to support the wave of construction activity in the pipeline? Seiler: Yes, we are providing it now. There are a lot of projects in various phases of development and redevelopment now. We will need to do more because of transportation. That’s the most important issue as it relates to development. Most of the developers in the city know we want to see high-quality projects with top-notch architectural design. We want to see beautiful street-level interaction with neighbors. The two issues that hold up every development are traffic and parking. Developers understand and they are helping us resolve these issues. Part of that is by using multiple modes of transportation, which can be addressed through the Water Taxi, Wave system, Sun Trolley, [and] All Aboard Florida. This is creating a broader transportation network that is not only multi-modal but multi-dimensional.

FROM LEFT: Commissioner Bruce Roberts, Vice Mayor Dean Trantalis, Mayor Jack Seiler, Commissioner Robert McKinzie, and Commissioner Romney Rogers. FORT LAUDERDALE 2016

11


CITY REPORT: STATE OF THE CITY

City Manager Lee Feldman

VIEW FROM THE CITY MANAGER AND COMMISSIONERS City Manager Lee Feldman, Vice-Mayor Dean Trantalis, Commissioners Robert McKinzie, Bruce Roberts and Romney Rogers discussed public and private sector collaboration, the city’s booming construction sector, and long-term goals. EXECUTIVE South Florida: What sets Fort Lauderdale apart from other major cities in the region and state? Vice Mayor Dean Trantalis: The unique appeal of Fort Lauderdale rests in three areas: the people that live and work here and create a very inviting environment for people from all walks of life; the industries here that are unlike any you would find in other places—for example, we are the boating capital of the world; and the climate for building and starting a career. As a community we try to partner with you. As a commission, we try to foster economic development for those who want to invest here. Commissioner Bruce Roberts: It has been identified as the most diverse city in the state. And we are seeing the diversification of the city’s economic base beyond the traditional tourism, real estate, and marine industries. The growth of the technology sector is an important thing for the city. We have the lowest unemployment rate in the state. City Manager Lee Feldman: If you look at cities along the southeastern coast of Florida, you have a downtown and beach in two different communities. Fort Lauderdale has the best of both worlds. We have a vibrant downtown and world-class beach all within one city. 12

CITY REPORT

EXECUTIVE: What drives job growth in Fort Lauderdale, a city that is a regional and state leader in low unemployment? Commissioner Romney Rogers: There are a lot of factors. We are fortunate to be the largest city in Broward County and have the benefit of both the ocean and downtown. As the county goes, we do as well or better. We are fortunate to have government projects going on at the same time. We’ve got projects at the airport, I-595, and the [Broward County] Courthouse. The confluence of that helped us stay at the forefront of employment. Add to that the private development sector, with the new housing going up downtown and the new development on the beach, and you get the formula for success. Commissioner Robert McKinzie: Over the years, while many cities allowed their infrastructure to languish during downturns, Fort Lauderdale made a major investment in its water, sewer, fire stations, and parks. Those investment strategies maintained confidence amongst the private sector. Altogether, there was over $4.5 billion of investment that strategically guided the city to recover rapidly and become a regional leader. It provided more jobs and opportunities for people here. Lee Feldman: It’s our partnerships with not only other governmental partners in creating a regulatory environment conducive to locating here, but also with our partners in the education field. We’ve really become a very diversified employment center, hitting not just one sector of the economy but many sectors. A vibrant, diversified employment base contributes to low

Commissioner Robert McKinzie

unemployment. Also, a lot of construction activity here helps control the amount of unemployment. Bruce Roberts: Another big issue that helped Fort Lauderdale was the establishment of rather unique partnerships in our business and development communities. One in particular, the Greater Fort Lauderdale Alliance, works with Fort Lauderdale and all the municipalities in Broward County to bring new business to the area. EXECUTIVE: What is the city’s approach to working with the business community? Lee Feldman: I think we strike the right balance through consistent and predictable actions. So we don’t run the gamut (sic) when dealing with a project that wants to come to our city or a business that wants to operate here. By consistently responding, we allow businesses to have certainty in dealing with our government. Bruce Roberts: From my perspective, it’s a conservative approach to business and economic development. What can we do to facilitate it while not over regulating it? We should do what we can as a government to facilitate private enterprise and helping businesses expand and add employees. Romney Rogers: Our whole commission has taken the same approach since I was elected in 2009. It has been consistent and always sensitive to neighborhoods and their character and making sure the quality of life issues are at the forefront. On the other hand, there’s a balance with the need to continue to prosper as a community and growing businesses and attracting new ones. Dean Trantalis: The goal is to maintain a quality of life while recognizing that improvements can always be made. We should enhance the appeal of Fort Lauderdale while not suffocating

Photos courtesy of the City of Fort Lauderdale

Vice Mayor Dean Trantalis


Dean Trantalis: The long-term goals are mixed. We want to maintain a clean and safe environment for people that live here. We have to make sure we have the best police and fire protection second to none in our state and country. We’re approaching that level; people feel more comfortable than ever. In addition, there’s room for growth and opportunity. The balance I spoke of is precisely the direction we need to take in the next 10 years: work with the investment community to make sure their goals and our goals make a win-win for everyone involved. We need to continue to embrace people from all corners of the world.

Commissioner Bruce Roberts

Commissioner Romney Rogers

those elements we accept and feel would normally be associated with the city. As we look at new projects around the beach and Galleria Mall we have to balance the needs of the existing community with the investment community. Never lose sight of the fact we serve the people here.

busiest general aviation airports in the country. A lot of tech companies and educational facilities are around there. A group of businessmen in the area formed “Envision Uptown.” Their goal is to recruit, retain, and expand businesses in the area. It’s my pleasure to work with the organization. They take the lead and I get out of the way.

EXECUTIVE: What economic development initiatives are you working on? Robert McKinzie: We are still working on our infrastructure, improving roads and streets. You’ll see a lot of that on the beach. We have a project with [the Florida Department of Transportation] on Northwest Ninth Avenue that is about to kick off. There is a planned infrastructure program we had on the drawing board the last few years part of the long-term strategic planning throughout Fort Lauderdale, not just for one isolated area. Lee Feldman: There are three we really keep in the forefront at all times. First is the marine industry—doing whatever it takes to have the premier marine industry in the U.S. We work hard to make sure the boat show is a success and support the working waterfronts along the New River. We also don’t lose sight of the fact that we need to maintain a world-class beach and tourism industry, predominantly on our barrier island. We are working closely with the hospitality industry to make sure our guests have an enjoyable experience when they are here. The third thing is making sure we are working with the general development community to have a first-class downtown that is pedestrian-friendly and vibrant to maintain good residential, retail, and office space in the downtown core. Bruce Roberts: Most of the initiatives I’ve been working on involve the Fort Lauderdale Executive Airport, which is in my district. It’s one of the

Dean Trantalis: Right now, the commission is engaged in a very aggressive dialogue to spend Community Redevelopment [Agency] dollars on a program that will expire in a short number of years. We are looking for ways to enhance our beach community and our dockage for large and small boats alike. In the inner city, we look to spend redevelopment dollars to enhance the quality of life and encourage private investment. We will partner to some extent with private investors to encourage investment in those areas once considered being at risk. EXECUTIVE: What are the long-term goals for the city? Robert McKinzie: Investing in our fire stations, our streets, our parks. We are looking at different opportunities for parking facilities. As more and more people are attracted to the city, we have to find other ways of getting people out of cars and becoming more dependent on public transportation. The Wave [streetcar rail line] is about to kick off. All Aboard Florida is coming. The community wants us to focus more on walkability and bike lanes. Romney Rogers: : I think it is a critical time to make sure we’ve got the infrastructure in place to support future developments while keeping in mind the need to protect neighborhoods and make sure they maintain their character. On corridors where redevelopment is called for, let’s do it right. Everyone knows we can take a lot more density downtown for residential purposes. \We want to continue to emphasize that.

Lee Feldman: We’ve adopted a vision plan called “Fast Forward Fort Lauderdale.” Our goals are to really keep us at the forefront of resilient, sustainable communities. We want to be the city you never want to leave and we are working pretty steadily to achieve that. When you look at what we offer, you can get everything you need from good medical care, education, parks, retail, and outdoor experiences. Bruce Roberts: We need to continue the momentum. As we do additional development and expand on jobs and create an urban core we cannot forget the quality of life in our neighborhoods. We have to protect neighborhoods so we have a decent quality of life for our families. EXECUTIVE: Several commissioners have spent most or all of their lives in Fort Lauderdale. What has changed the most about the city in that time? Robert McKinzie: When I was growing up there were around 300,000 people here in Broward County. There are a lot more people now. We are still focused on our main industries: tourism and marine. Our seaport and airports have grown tremendously. We’ve seen the downturns and come up with creative ways to get the economy on track. What we’re doing now with infrastructure is so key to where we want to be. Romney Rogers: The house I grew up in is catty corner from the Riverside Hotel. If I stood in my backyard as a kid and looked west to see downtown, in my wildest imagination I don’t think I could have imagined we would have a residential skyline. Obviously we are doing that and have done it well. The cultural piece has come together as well, with the Broward Center [for the Performing Arts] and the Museum of [Discovery and] Science. We have the benefit of all the professional sports nearby and the great beach. I was a water rat growing up, swimming and water skiing. You could go anywhere on a boat throughout the whole city. That’s why I’m always sensitive to our waterways. Now we’re moving in the right direction. The beach is in great shape. FL FORT LAUDERDALE 2016

13


ECONOMIC DEVELOPMENT Strong public and private sector collaboration drives booming Fort Lauderdale

“ 14

We constantly look at diversification from the three-legged stool of marine, real estate and tourism.

—Dan Lindblade, President & CEO, Greater Fort Lauderdale Chamber of Commerce CITY REPORT

Photo courtesy of the City of Fort Lauderdale

CITY REPORT: ECONOMIC DEVELOPMENT


FORT LAUDERDALE POWER PLAYERS JOHN P. “JACK” SEILER Mayor, City of Fort Lauderdale DEAN J. TRANTALIS Vice-Mayor, City of Fort Lauderdale LEE R. FELDMAN City Manager, City of Fort Lauderdale JEREMY EARLE Deputy Director, Department of Sustainable Development

Photo by Larry Wood

BOB SWINDELL President and CEO, Greater Fort Lauderdale Alliance DR. PENNY SHAFFER Chair, Board of Directors Greater Fort Lauderdale Alliance

T

SATO U.S.Fort Lauderdale headquarters

he successful recruitment of Japanese software developer SATO Global Solutions is a microcosm of how collaboration between Fort Lauderdale’s business, government and civic leaders fuel the city’s ongoing economic boom. SATO, which specializes in auto-identification and tracking software, had several options before choosing to relocate its headquarters from Charlotte, to Fort Lauderdale. The Greater Fort Lauderdale Alliance, Broward County’s public/private economic development organization, worked with the state and city to provide the company with incentives and assist with the search for a new company headquarters. Corporate officials were educated about Fort Lauderdale’s expanding pool of high-tech companies and the business-friendly culture fostered by the city government. The collective effort paid off, as SATO decided to move to 110 Tower in downtown Fort Lauderdale and initially invest $5 million in the company’s headquarters. The company recently opened the Fort Lauderdale office with 35 employees and plans to grow its local workforce to 200 within the next three years. Once SATO arrived in Fort Lauderdale, the Greater Fort Lauderdale Chamber of Commerce immediately created a “Quick Start” program to “embed them in the community,” according to chamber president and CEO Dan Lindblade. SATO president Mike Beedles was invited to be the keynote speaker at a chamber trustee luncheon, where Lindblade and his team introduced him to many key players in the city. SATO is one of many international companies operating in Fort Lauderdale. Others include Allied Marine/Ferretti Group, Baxter International, Microsoft Latin America, South African Airways Americas and YUM! Restaurants, Latin America. AutoNation, BFC Financial, Citrix Systems, Kaplan Higher Education and Stiles are just a few of the domestic companies based in the city. To Lindblade, SATO’s seamless integration into Fort Lauderdale might not have been possible in the past. The city now benefits from the complementary relationship between organizations like the Convention and Visitors Bureau, Greater Fort Lauderdale Alliance, Leadership Broward and the Chamber. “We all work together now in identifying prospects and integrating them into the city.”

DAN LINDBLADE President, CEO, Greater Fort Lauderdale Chamber of Commerce HEIKO DOBRIKOW Chair, Board of Directors, Greater Fort Lauderdale Chamber of Commerce PHIL PURCELL Executive Director Marine Industries Association of South Florida NICKI E. GROSSMAN President and CEO, Greater Fort Lauderdale Convention & Visitors Bureau (GFLCVB) EDUARDO FERNANDEZ President, Florida Restaurant & Lodging Association, Broward ANNE SALLEE Chapter Director, Florida Restaurant & Lodging Association, Broward CHARLES CAULKIN Chair, Broward Workshop KAREEN BOUTROS Executive Director, Broward Workshop

FORT LAUDERDALE 2016

15


The only Real Estate company you’ll ever need.

65 EXPERIENCE 43 DEVELOPED 320 EMPLOYEES 9 REAL ESTATE SOLUTIONS YEARS

MILLION SF

PLUS

FULLY INTEGRATED

Your single-source commercial & residential real estate provider. Acquisitions Development

Construction Architecture

Property Management Leasing & Brokerage

Financial Services

Tenant Project Management

Asset Management

STILES.COM 301 E Las Olas Boulevard Fort Lauderdale, FL 33301 +1 954 627 9300

since 1951 FLORIDA

North Carolina

Tennessee


CITY REPORT: ECONOMIC DEVELOPMENT

ECONOMIC PILLARS Following a rough recession that decimated property values and municipal budgets around the nation, Fort Lauderdale’s business and city leaders considered ways to diversify the local economy beyond the traditional tourism, real estate and marine industries. “When that happens you focus on what your priorities are,” said Greater Fort Lauderdale Alliance president and CEO Bob Swindell. “What do you get the best return on when you invest in the community?” In 2012, Broward County was one of the first municipalities in the state to complete the Florida Chamber Foundation-led “Six Pillars” strategic planning process. More than 350 business, civic, government and community representatives participated in Six Pillars, which was designed to align state and local goals. The categories, or pillars, were talent supply and education, innovation and economic development, infrastructure, business climate and competitiveness, civic and governance systems and quality of life. “The thinking behind Six Pillars is that there should be a common goal in how we describe and allocate funding,” Swindell said. “It’s really a top-down planning process with the understanding that between now and 2030 there will be about 7 million more Floridians. You have to be a lot more strategic about how to accommodate” the projected population growth. Ron Drew, senior vice president of marketing and communications for the Alliance spearheaded much of the planning and implementation of Six Pillars Broward County.. Each year, a 60-member steering committee reviews what goals are being met and discusses how best to overcome additional challenges. “The biggest advantage with the program is over the last three years, people have talked to each other when they may not have had a reason to communicate before,” Drew said. “Transportation leaders talk to educational officials. The collaboration is incredible.” With a broader vision in place, Fort Lauderdale’s business groups are working together to meet their goal to create 90,000 new jobs by 2030. That would ensure the city remains a regional and state employment leader by keeping its unemployment rate at or below 5 percent. “It’s a reasonable goal with partners like the Fort Lauderdale Alliance, Nova Southeastern University, Florida Atlantic University and municipal partners all on the same page,” Lindblade said. “We constantly look at diversification from the three-legged stool of marine, real estate and tourism. We are looking at international trade and logistics, life sciences, crowd technology and mobile communications, high-tech manufacturing, pharmaceuticals, aerospace and aviation as growth sectors for the city”. Attracting new industries is made much easier by the city’s strong leadership and a continually improving dynamic between Fort Lauderdale’s major economic development organizations, according to E & K Financial president and chamber Chair-Elect 2017 Keith Costello. “Just look at the Chamber and the Alliance,” Costello said. “In years past, they were not collaborating or working together. Now Bob Swindell and Dan Lindblade have a common goal and work tirelessly with the city. To have that at all levels is a great thing.” FL

Top Industry (by Sector)

Jobs

Economic Impact

Marine Industry Tourism

136,000 168,000

$11.5 billon $11.4 billion

Total Number of businesses (2015) - 16,745 Source: Greater Fort Lauderdale Alliance

GREATER FORT LAUDERDALE MAJOR CORPORATIONS AND EMPLOYERS AutoNation Branch Banking and Trust Company (BB&T) Broward County School Board Broward County Government Broward Health Baxter International Citrix Systems Ed Morse Automotive Group Holy Cross Hospital Kaplan University Microsoft Latin America HQ National Beverage Corporation Ranstad USA Republic Services Inc. Rick Case Automotive Group Seacor Holdings Inc. South African Airways Sun Sentinel (Tribune Co.) Spherion Corporation Stiles Corporation Templeton Worldwide Source: Greater Fort Lauderdale Alliance Zimmerman Advertising

TOP FIVE INDUSTRIES BY JOB CATEGORY Professional Retail Technical Services Administrative/Support Services Healthcare Source: Greater Fort Lauderdale Alliance Social Services

CITY OF FORT LAUDERDALE Fiscal Year 2016 Operating Budget

$593,800,000

ALLOCATION OF RESOURCES General Fund

$263,900,000 44.4%

Water & Sewer

$127,900,000

21.50%

Internal Services

$74,000,000

12.40%

Debt Service

$35,100,000

5.90%

Sanitation

$24,700,000 4.20%

Parking

$15,800,000

Building

$14,000,000 2.40%

Housing/Community

$9,200,000 1.60%

Airport

$9,100.00

Other

$8,600,000 1.40%

Stormwater

$7,000,000

1.20%

Community Redevelopment Agency

$4,500,000

0.80%

2.70%

1.50%

Source: City of Fort Lauderdale FORT LAUDERDALE 2016

17


INTRODUCING CONDO-HOTEL OWNERSHIP ON YOUR TERMS LIVE IT, LOVE IT, OWNERSHIP HAS ITS BENEFITS


OCEANFRONT CONDOMINIUM AND CONDO-HOTEL STUDIOS, 1, 2 AND 3 BEDROOMS FROM $400’S, F I N A N C I N G AVA I L A B L E W I T H $ 1 9 9, 0 0 0 D OW N .

OPENING 2016 ON-SITE SALES GALLERY: 5 5 1 N O R T H F O R T L A U D E R D A L E B E A C H B O U L E VA R D , F O R T L A U D E R D A L E , F L O R I D A , U S A 954 780 8601 | THEOCEANFORTLAUDERDALE.COM

EXCLUSIVE SALES & MARKETING

ORAL REPRESENTATIONS CANNOT BE RELIED UPON AS CORRECTLY STATING REPRESENTATION OF THE DEVELOPER. FOR CORRECT REPRESENTATIONS, MAKE REFERENCE TO THIS BROCHURE AND TO THE DOCUMENTS REQUIRED BY SECTION 718.503, FLORIDA STATUTES, TO BE FURNISHED BY DEVELOPER TO A BUYER OR LESSEE. THE PROPERTIES OR INTEREST DESCRIBED HEREIN ARE NOT REGISTERED WITH THE GOVERNMENTS OF ANY STATE OUTSIDE OF THE STATE OF FLORIDA. THIS ADVERTISEMENT DOES NOT CONSTITUTE AN OFFER TO ANY RESIDENTS OF NJ, CT, HI, ID, IL, OR ANY OTHER JURISDICTION WHERE PROHIBITED, UNLESS THE PROPERTY HAS BEEN REGISTERED OR EXEMPTIONS ARE AVAILABLE. PLANS, FEATURES AND AMENITIES SUBJECT TO CHANGE WITHOUT NOTICE. ALL ILLUSTRATIONS AND PLANS ARE ARTIST CONCEPTUAL RENDERINGS AND ARE SUBJECT TO CHANGE WITHOUT NOTICE. CONRAD® IS A REGISTERED TRADEMARK OF HLT CONRAD IP, LLC, AN AFFILIATE OF HILTON WORLDWIDE INC. (“HILTON”). THE RESIDENCES ARE NOT OWNED, DEVELOPED, OR SOLD BY HILTON AND HILTON DOES NOT MAKE ANY REPRESENTATIONS, WARRANTIES OR GUARANTIES WHATSOEVER WITH RESPECT TO THE RESIDENCES. THE DEVELOPER USES THE CONRAD® BRAND NAME AND CERTAIN CONRAD TRADEMARKS (THE “TRADEMARKS”) UNDER A LIMITED, NON-EXCLUSIVE, NON-TRANSFERABLE LICENSE FROM HILTON. THE LICENSE MAY BE TERMINATED OR MAY EXPIRE WITHOUT RENEWAL, IN WHICH CASE THE RESIDENCES WILL NOT BE IDENTIFIED AS A CONRAD BRANDED PROJECT OR HAVE ANY RIGHTS TO USE THE TRADEMARKS. THE COMPLETE OFFERING TERMS ARE IN AN OFFERING PLAN AVAILABLE FROM SPONSOR. FILE NO. CD15-0110. SPONSOR: CFLB PARTNERSHIP, LLC., 551 NORTH FORT LAUDERDALE BEACH BOULEVARD, FORT LAUDERDALE, FLORIDA 33304. THE SPONSOR RESERVES THE RIGHT TO MAKE CHANGES IN ACCORDANCE WITH THE TERMS OF THE OFFERING PLAN.


CITY REPORT: MARINE

FORT LAUDERDALE INTERNATIONAL BOAT SHOW Organizers enhance yachting world’s preeminent annual event

The boat show is one of the few places where at one time you can

T

and equipment in the world.

he Fort Lauderdale International Boat Show is already one of the world’s biggest marine industry events, with an annual regional economic impact exceeding $500 million—more than a Super Bowl generates for South Florida. Organizer Show Management is not resting on the boat show’s established success and Fort Lauderdale’s reputation as the “yachting capital of the world,” however. The company continues to find opportunities to expand the event through new partnerships and facility upgrades. With six sites totaling more than 3 million square feet, the Fort Lauderdale International Boat Show attracts visitors from all 50 states and 32 foreign countries. More than 100,000 people attend the week-long event. Press credentials are issued to more than 500 media members, ranging from big cable networks like CNBC to marine industry publications and international outlets. The show “truly is one of the few places where at one time you can see a representation of every type of boat, accessory, and equipment in the world,” said Show Management president and CEO Efrem “Skip” Zimbalist III. “All the factory experts are here. You can talk to people who engineered and built the boats and get all of your questions answered.” It also puts a spotlight on Fort Lauderdale’s role as the fulcrum of South Florida’s robust marine industry. Marine businesses produce an annual economic output of $8.8 billion in Broward County and $11.5 billion regionally, 20

see a representation of every type of boat, accessory,

CITY REPORT

—Efrem “Skip” Zimbalist III according to the Marine Industries Association of South Florida, the largest trade organization in the Southeastern United States. The association organizes an annual family-oriented Marine Industry Day to highlight the multitude of jobs available in the sector. The state average for wages in the marine industry is 20 percent higher than the total average, according to association executive director Phil Purcell. “The industry gives you a career path from blue collar to white collar that cannot be replicated. I see the marine industry as the great connector, because if a company wants to move from Chicago, it will first look at schools, then homes, then the water and say ‘We can buy into this lifestyle.’”

MONEY FLOWS IN Fort Lauderdale’s marine industry is attracting substantial investments from notable groups. In 2015, global alternative asset manager The Carlyle Group purchased Lauderdale Marine Center, the nation’s largest yacht repair facility, for about $150 million. Carlyle plans to expand and renovate the 50-acre facility on the New River. In July of 2014, a group led by major South Florida real estate players Jimmy and Kenny Tate and Sergio Rok acquired the Bahia Mar Resort and Marina. The group is working closely with city officials on a phased expansion plan designed to secure Bahia Mar’s position as a permanent home for the boat show. Plans call for new residential towers, retail space, restaurants, marine-related offices, and the complete renovation of the existing hotel,

Fort Lauderdale International Boat Show

according to Jimmy Tate. The group also intends to add about 200,000 square feet of airconditioned exhibition space for the boat show. Zimbalist and his team at Show Management are undoubtedly excited about the long-term impact of the Bahia Mar improvements, but the immediate focus is on making each year’s boat show bigger and better.

MAJOR UPGRADES To enhance the branding of the boat show’s website and mobile app, Show Management brought in Starmark International. The communications firm often works with the Fort Lauderdale-Hollywood International Airport, Greater Fort Lauderdale Convention and Visitors Bureau, Marine Industries Association of South Florida, and Port Everglades on similar projects. Show Management also partnered with QuintEvents to bring new potential boat buyers to the show. QuintEvents specializes in organizing group trips to major events like the Indianapolis 500, Kentucky Derby, and Super Bowl.


Fort Lauderdale International Boat Show

“This is aimed at people new to the show and don’t know the ins and outs,” Zimbalist said. “QuintEvents puts the whole package together, including the transportation and hotels. It’s a VIP experience all the way through.” Other changes include improvements to the facilities that accommodate visitors who come to the show by boat and the addition of more valet parking. Zimbalist notes the boat show is poised to benefit from a long-awaited dredging project to deepen and widen a portion of the Intracoastal Waterway in Fort Lauderdale. “Accommodating the very largest yachts won’t be an issue after that’s done,” he said. The success of the boat show—and Fort Lauderdale’s marine industry overall—is fueled by strong collaboration between marine businesses, trade groups, and government officials, according to Zimbalist. “The city, county, state, Coast Guard, and regulatory bodies are all very supportive of the marine industry,” he said. “That is critical to make it as easy as possible to blossom. A lot of other places don’t do that.” FL FORT LAUDERDALE 2016

21


CITY REPORT: REAL ESTATE Don Ginsburg President, Realty Masters Advisors

REAL ESTATE

Development surge brings widespread growth from downtown to the beaches.

Fort Lauderdale has become much more of a

full life-cycle city, with people raising families

—Bradley Deckelbaum

ealty Masters Advisors president Don Ginsburg has had a first-hand look at Fort Lauderdale’s transformation in the decade since he launched his real estate firm. Nearly every corner of Fort Lauderdale is experiencing a surge of real estate development and investment. At least 30 major projects valued at more than $1 billion are under construction or in the planning stages, according to the city. Ginsburg’s headquarters is at the southern end of Downtown Fort Lauderdale. The city’s downtown is evolving into a vibrant urban destination with scores of younger residents and empty nesters. “From downtown to the beaches, it’s an exciting time to be in Fort Lauderdale,” Ginsburg said. “Demographic shifts, with millennials delaying their move to the western suburbs and baby boomers seeking a more active retirement, are driving significant demand for housing in our urban core.” Downtown Fort Lauderdale, led by the burgeoning Flagler Village neighborhood and central business district, especially along the New River, is attracting much of the development activity. As of February 2016, downtown had 1,133 residential units under construction, 2,539 units approved, 2,194 units in review, and 1,396 units completed, according to the city’s Downtown Development Authority. Some of the newer multi-family buildings, including The Manor at Flagler Village, New River Yacht Club, and The Morgan Group’s Edge at Flagler Village, are more than 90 percent occupied. “We are seeing a trend with the influx of individuals who want to be in the downtown core,” said Randall Vitale, senior vice president and Fort Lauderdale market executive at Gibraltar Private Bank & Trust. “The downtown fringes, in every direction, are taking advantage of the ripple effect of downtown’s growth. The redevelopment of downtown creates a compounding impact of success as the tax base increases and the cycle keeps going.”

22

CITY REPORT

Photo by Gort Productions

R

and moving here for their careers.


Photo courtesy of SUNNY.ORG

KEY PLAYERS

Rendering of Amaray Las Olas

Some of the real estate industry’s most prominent companies, like Related and Fort Lauderdale-based Stiles, are doing their part to address the demand for downtown housing. Related is building the 42-story, 272-unit Icon Las Olas next to the historic Stranahan House and iconic Riverside Hotel in the heart of Downtown Fort Lauderdale. The project should be completed by mid-2017. Related executives have not ruled out converting Icon into condos, but the project is being marketed as a rental for now. “It will be the nicest rental Fort Lauderdale has ever seen,” said Carlos Rosso, president of Related’s condo division. “More people are embracing living downtown. Las Olas is beautiful, and we think there is great potential to create a good salary base for people to rent or buy there.” Along the waterfront, Related is building the 349-unit second phase of its New River Yacht Club rental development. The company is bringing in strong rental revenue from the project’s 248-unit first phase. Stiles, mostly known for commercial development is impacting the downtown area as both a leading employer and builder. The company has more than 300 full-time employees, many of whom work at its downtown headquarters. In January 2016 Stiles began leasing apartments in the luxury Amaray Las Olas tower, a 254-unit project they are developing in a joint venture with The Rockefeller Group. Near Las Olas Boulevard, the site “is one of the best locations for a high-quality residential tower” in the city, said Stiles president Doug Eagon. “We are targeting the young professional right on through to retired baby boomers. We have had a long list of people inquiring about it from the time we planned the building.” Eagon said the building should be ready for occupancy by the second half of of 2016.

Fort L

FORT LAUDERDALE 2016

23


CITY REPORT: REAL ESTATE

MILLER CONSTRUCTION

T

Traci Miller may have done a double take when the Fort Lauderdale-based Miller Construction Company closed their books on 2015. The economic downturn forced the company to buckle down and Miller knew it would take hard work, determination and perseverance to ride out the tough times. The company has always focused on building long-term relationships and that strategy kept the pipeline flowing. When necessary, Miller took on smaller scale projects and tapped its extensive network in the region. As the economy improved, Miller’s 2015 revenue went back up—on par with some of the most profitable years in the firm’s 43-year history. Miller, a member of the executive leadership team, is a shareholder and daughter of the company’s founding family. She is invigorated by the company’s recent success. It’s not the first time the Millers have had occasion to celebrate their achievements. Brothers Thomas and Harley Miller formed Miller Construction in 1973 (still active as CEO and President). Both brothers earned a degree in Construction Management from the University of Florida and were recently inducted into the school’s Construction Hall of Fame. What started out as “just doing the right thing for clients,” says Miller, has morphed into a 56-employee operation that was recently honored by the Construction Association of South Florida as company of the year. From hotels to hospitals, Miller’s fingerprints are on more than 400 commercial building projects throughout the region. A lot of their business is repeat or via word-of-mouth according to Miller. “Clients trust us. We’re not a company that will sacrifice our quality and service standards just to win a bid. We’re in it for the long term.” Fort Lauderdale is where the Miller’s philanthropic and civic contributions run deep. Beside the elder Miller brothers long history of philanthropic and charitable involvement, family matriarch Virginia “Ginny” Miller is widely recognized as one of the most charitable and influential women in Broward county. “My mother has been such an incredible role model,” says Traci. “Her ability to touch lives and her capacity to give back has had a huge influence on me.” The company has made its mark on the local landscape. At the Lago Mar Resort and Club on Fort Lauderdale Beach, Miller Construction has built or managed the bulk of additions and renovations to the property made over the past 40 years. Miller recently put the finishing touches on a 209,000-square foot automotive service center on South Andrews Avenue for New Jersey-based 24

CITY REPORT

Pelican Grand Beach Resort Holman Automotive Group. The massive project includes a fully air conditioned structure with ground level and elevated parking for more than 500 vehicles, 52 service lifts for repairs and administrative offices, a customer café and a multi-level automotive parts department. Miller is looking ahead to the future having recently partnered with Fort Lauderdale based Stiles on the expansion and renovation of the Broward Center of the Performing Arts. Their slate of projects for 2016 and beyond is already ahead of expectations and the firm is bullish on more business to come. “We’ve done a lot of work with Miller Construction over the years,” says Keith Koenig, President of Tamarac-based City Furniture. Miller recently completed a multi-million dollar makeover of Koenig’s 58,659-squarefoot Pembroke Pines showroom. It’s the builder’s sixteenth project for the furniture retailer. “They’re high quality,” says Koenig, who is also involved in the local philanthropic and business community. “I’ve found that the winners in our community are run by quality people, like the Millers, who I believe treat their customers like family.” Koenig’s keen too on South Florida’s construction market continuing to rise. “It’s a wonderful place to live, so people will keep coming here.” There’ll be a need for more housing, which will be good for the Millers. Another good thing, says Koenig, “those people will need new furniture.” FL


iC A

are created equal

BE ST

AM ER

m a F Ba gaz orb BA as o nkU ine es N ne nit ran KS of ed ks iN the

NOT All CDs

1.20% ApY1

9-mONTH

CERTiFiCATE OF DEPOSiT

$1,000 minimum opening deposit (with any personal checking account)

HURRY IN TO TAKE ADVANTAGE OF THIS GREAT OFFER. SEBASTIAN CANNATA

Branch Sales Leader 954-609-3818 scannata@bankunited.com Annual Percentage Yield (APY) is accurate as of 3/28/2016. Advertised rate is fixed for the initial term of the Certificate of Deposit (CD) only. APY assumes interest earned remains on deposit until maturity. CD minimum opening deposit of $1,000 required. To obtain the stated APY you must currently maintain (in good standing), or simultaneously with the CD, open a BankUnited personal checking account with a minimum balance of $500. You must be an owner of both the checking account and CD. Accounts on which you are a signer but not an owner are not eligible for this offer. Early withdrawal penalty may apply if you withdraw any principal from the CD before the maturity date. Account fees could reduce earnings. CD must be opened with new money not currently on deposit with BankUnited. Additional terms and conditions apply. Please refer to our Depositor’s Agreement and applicable Schedule of Fees for additional information. BankUnited reserves the right to cancel or modify this offer at any time. Rates are subject to change at any time and are not guaranteed until the CD is open. Please contact a BankUnited representative for additional details. Offer is for consumer accounts only.

1


CITY REPORT: REAL ESTATE

1. Village Place

25. All Aboard Florida Rail Station

700 NE 4th Avenue 6 Story residential, 112 units. $20 million construction value Completed Developer: The Housing Trust Group

101 NW 2 Avenue 30,276 sf rail station $20 million construction value Under Construction Developer: FL East Coast Industries, LLC

26. Wisdom Village Crossing

614 N. Andrews Andrews 9 Story residential, 105 units. $20.26 million construction value Under Construction Developer: Turnstone Dev Corp

27. Tribute/Element Hotel

28. Fairfield at Flagler Village

29. Quantum at Flagler Village 701 N. Federal Highway 15 Story residential, 328 units. 9 Story hotel, 137 rooms. 7,572 sf retail $87.3 million construction value Approved Plans Developer: F V Land Trust

673 NE 3rd Avenue 6 Story residential, 292 units. Under Construction Developer: Fairfield

299 N. Federal Highway 24 Story hotel, 323 rooms. 10,897 sf retail Approved Plans Developer: 299 N. Fed Master LLC

30. URBN @ Flagler

401 NE 3rd Avenue 33 Story residential, 217 units. 3,200 SF restaurant In review Developer: Third Avenue Dev LLC

14. Pinnacle At Tarpon River

224 SE 8th Street 10 Story residential, 112 units. 3,320 sf retail $30.5 million construction value Completed Developer: Pinnacle Group

2. The Manor, Flagler Village

525 NE 5th Terrace 7 Story residential, 382 units. 24,750 sf retail Completed Developer: The Related Co.

31. Justice Building Restaurants

524 S. Andrews Avenue 7 Story building 10,030 SF restaurant/retail, 62,250 SF office. In Review Developer: Blackhawk Properties

3. The Edge at Flagler Village

33. 788 East Las Olas

645 NE 4 Avenue 3 Story residential, 5 units. $1.88 million construction value In Review Developer: 645 Art Lofts, LLC

42. Flagler Village Hotel

788 E. Las Olas Boulevard 18,142 sf retail, 16,287 sf office. In Review Developer: Las Olas Company Inc.

315 SW 1st Avenue 18 stories, 195 rooms 2,227 s.f. of retail In Review Developer: 315 Flagler, LP

400 NE 3 Avenue 7 Story residential, 357 units. 4,292 SF retail $75 million construction value In Review Developer: 441 Developers Putnam Realty

155 NW 3 Avenue 7 Story parking facility 1,582 SF retail In Review Developer: All Aboard Florida

43. Alta Flagler Village 421 NE 6th Street 12 stories, 212 units 2,600 s.f. of retail In Review Developer: ALTA Flagler Village, LLC

NW 8TH ST

36. Sistrunk Townhouses

28

103 NE 6 Street 3 Story residential, 18 units. $4.5 million construction value In Review Developer: FLL Land Holdings LLC

26

43

501 SE 8th Street 14 Story residential, 75 units. 4,057 sf retail $27 million construction value In Review Developer: Lofts on 8th, LLC

2 100 E. Las Olas Boulevard 46 Story residential and hotel 120 units, 228 hotel rooms. 6,983 sf retail $200 million construction value In Review Developer: KG Las Olas Trustee, LLC

1 W. Las Olas Boulevard 7 Story office building 1,827 sf retail, 29,190 sf office $5 million construction value Completed Developer: One West LOA, LLC

17. Lofts on 8TH

23

20

37. 100 Las Olas

16. One West Las Olas

32

36

5. The Rise

411 NE 2nd Street 30 Story residential, 398 units. 2,200 sf retail Approved Plans Developer: Ellis Diversified

403 SE 2nd Street 42 Story residential, 395 units. 9,000 sf retail $120 million construction value In Review Developer: Crocker Partners

29

1

4. One20fourth

120 NE 4th Street Two buildings, 25 & 14 stories, 386 units. 2,100 sf retail Approved Plans Developer: Ellis Diversified

15. Crocker Tower

35. All Aboard Florida Parking Facility

34. Morgan on 3rd Avenue

495 N. Federal Highway 7 Story residential, 327 units. $70 million construction value Completed Developer: The Morgan Group

32. Flagler Townhomes

3 30

34 18. 105 North

42

6. Broward Center For The Arts Expansion

105 N. Federal Highway 3 Story retail 45,935 sf retail $4.1 million construction value Under Construction Developer: HappyLand FL, LLC

4

201 SW 5th Avenue 12,000 sf event pavilion, 27,360 sf educational wing. $50 million construction value Destination Restaurant on Riverwalk Completed

27

5

38 40

35

25

18

b Æ 22

19. New River Yacht Club West 401 SW 1 Avenue 36 Story residential, 349 units. 6,388 sf retail $37 million construction value Approved Plans Developer: Related

7. Marina Lofts

400 SW 3rd Avenue Three 25 Story residential towers, 900 units. 19,200 sf retail $250 million construction value Approved Plans Developer: Cymbal Development

9 15 24

10

G 16 6

8. New River Yacht Club

400 SW 1st Avenue 26 Story residential, 248 units. 4,400 sf retail $36 million construction value Completed Developer: Related

37 19

7

21

G 33 20. Pineapple House

501 NE 3 Avenue 7 Story residential, 92 multi-family units, 86 social service residential units. 11,897 sf retail $50 million construction value Approved Plans Developer: Phillips Development Company

8

39 38. Downtown Marketplace 9. Fairfeld Inn

30 S. Federal Highway 8 Story, 108 hotel rooms. Approved Plans Developer: LM Hotels, LLC

11

105 N. Federal Highway 1 Story retail and restaurant 6,354 sf retail, 4,778 sf restaurant $500 thousand construction value In Review Developer: Shopping Center Interests, LLC

31

12

G 21. Icon Las Olas

41 10. Amaray Las Olas

215 SE 8th Avenue 30 Story residential, 262 units. 2,500 sf retail $62 million construction value Under Construction Developer: The Rockefeller Group

500 E. Las Olas Boulevard 42 Story residential, 272 units. Under Construction Developer: Related

39. 1st Avenue Residences

477 SW 1st Avenue 35 Story residential, 380 multi-family units 2,700 sf retail. In Review Developer: SWFA, LLC

17 13

14 22. 111 Broward

41. New River Central 11. VU New River

510 SE 5th Street 16 Story residential, 215 units. 2,378 sf retail/restaurant $68 million construction value Completed Developer: A L Ventures

12. Broward County Courthouse 100 SE 6th Street 741,000 sf office space $213 million construction value LEED Silver Certification Under Construction

40. Las Olas Townhomes

620 NE 2 Street 3 Story residential, 7 units. In Review Developer: Cedar Lofts Alliance LLC

Legend

b Æ

All Aboard Florida Future Rail Station Downtown Development Projects

G

B-Cycle Bicycle Share Station Wave Future Streetcar FEC Railroad-Future Passenger Rail All Aboard Florida Downtown Regional Activity Center

20 SE 8th Street 7 Story residential, 202 units. $20 million construction value Under Construction Developer: Hooper-Petrillo

2016

0

250

500

1,000 Feet

I 23. 500 Federal - North & 400 Federal - South

Downtown Development Project Status

Under Construction

Residential Units - 1,133 Retail Square Ft. - 75,460 Office Square Ft. - 768,138

Approved

In Review

Completed

Residential Units - 2,539 Retail Square Ft. - 58,672 Office Square Ft. - 299,880 Hotel Rooms - 473

Residential Units - 2,194 Retail Square Ft. - 87,761 Office Square Ft. - 78,537 Hotel Rooms - 746

Residential Units - 1,396 Retail Square Ft. - 36,675

CITY OF FORT LAUDERDALE DOWNTOWN PROJECTS C I T Y O F F O R T LDEVELOPMENT AUDERDALE Northwest Community Redevelopment Agency

13. The Queue

121 E. Broward Boulevard 30 Stories, 228 hotel rooms, 9,315 sf retail, 299,880 sf office. Approved Plans (Extension Granted) Dev: Groupe Pacific

100 SW 6th Street 35 stories, 408 units 5,697 s.f. of retail In Review Developer: New River Central, LLC

Downtown Development Projects

Q:\URBAN DESIGN & PLANNING\MASTER PLANNING\DOWNTOWN\Dev_Project_Map24x36.mxd

26

CITY REPORT

Source: City of Fort Updated Lauderdale February 2016

400 and 500 N. Federal Highway 3 Stories 18,025 sf retail, 9,000 sf restaurant, 27,138 sf office, 5 Story parking garage. $9.5 million construction value Under Construction Developer: Gaddis Capital Corporation

24. New Restaurant/Bar

301-307 SW 2 Street 10,430 sf restaurant/bar $3 million construction value In Review Developer: 301 Second Corporation


43 YEARS

80% REPEAT CLIENTS

381 CRAFTSMANSHIP AWARDS

100% QUALITY

MILLERCONSTRUCTION.COM

I

954.764.6550


CITY REPORT: REAL ESTATE

H TAYLOR BIRCH STATE PARK

Uptown Business District 11. Las Olas Ocean Resort

Canine Beach

E SUNRISE BLVD

Fort Lauderdale Executive Airport a catalyst for one of city’s fastest-growing neighborhoods

ISE LN

NE 26TH AVE

N BIRCH RD

NE 9TH CT

550 Seabreeze Boulevard 12 stories, 136 hotel rooms. 1,529 sf retail, 5,594 sf restaurant $22.41 million construction value Under Construction

SU NR

BREAKERS AVE

801 Seabreeze Boulevard 39 stories, 625 units, 236 hotel rooms. 50,248 sf retail, 27,792 sf restaurant, 44,725 sf office and marina. $400,000,000 million construction value In Review

FS13

SEMINOLE DR

1. Bahia Mar

NE 9TH ST

NE 9TH ST

INTRACOASTAL

DR

2. The Gale

2900 Riomar Street 12 stories, 124 residential units. 96 hotel rooms, 2,000 sf retail Approved Plans

12. Bayshore 740

H ST

740 Bayshore Drive 8 residential units. Approved Plans

TH A VE

NE 9T

NE 26

12

VISTAMAR ST VISTAMAR ST

5

3. Privage

BELMAR ST

OR

ED

R

321 North Birch Road 11 stories, 22 units. $ 21.39 million construction value Approved Plans

SH

13. AC Marriott

BAY

3029 Alhambra Street 14 stories, 175 hotel rooms. In Review

7 WINDAMAR ST

4

N ATLANTIC BLVD

ORTON AVE

ANTIOCH AVE

TERRAMAR ST

MIDDLE RIVER DR

4. Four Seasons

525 North Fort Lauderdale Beach Boulevard 22 stories, 100 units, 150 hotel rooms. 1,511 sf retail, 5,325 sf restaurant Approved Plans

AURAMAR ST

10

INTRACOASTAL DR

NE 6TH CT Purple Pickle Park

Anchored by one of the nation’s busiest general aviation airports and home to technology giants like Citrix and Microsoft, the Uptown Business District is among Fort Lauderdale’s fastest-growing neighborhoods. More than 70,000 employees work in Uptown, the area around the city-owned and operated Fort Lauderdale Executive Airport (or FXE). Corporations are flocking to the district’s Cypress Creek Road, which has easy access to I-95 and a Tri-Rail station. Key stakeholders formed a non-profit public-private partnership, Envision Uptown, with the mission to transform the district into a 24-hour urban village. The airport is Uptown’s focal point. Its amenities include five Fixed Base Operators (or FBOs) that provide refueling, maintenance and other aviation services. One of the FBOs, Banyan Air Service, is a gateway for aircraft traveling to and from the Bahamas, Caribbean and South America and was recently voted the top FBO in the Southeast during the 2015 Fltplan.com Pilots’ Choice Awards. Fort Lauderdale Executive Airport is “an economic generator at the highest level,” said Cary Goldberg, president of Cypress Creek-based Diversified Companies. “The airport is picking up even more steam now, led by companies such as Banyan Air Service and W Aviation implementing big improvements to their operations,” Goldberg said. Goldberg has also spearheaded the creation of Envision Uptown to ensure the district remains appealing to major employers. The group successfully advocated for the Uptown Link, a free shuttle service connecting the Tri-Rail station to the district’s office buildings and restaurants. These days, Envision Uptown members are focused on carrying out an Urban Land Institute study that calls for a more sustainable and pedestrian-friendly district with ample housing options for area employees. Goldberg has heard the same from several Citrix and Microsoft executives. With that in mind, Envision Uptown is leading efforts to develop a 20-to-30-year master plan for the district. “We’re coming up with a vision for the area,” Goldberg said. “The walkability, the streetscape, will be improved and a nice entrance to the district will be designed. Uptown already has intangibles going for it, with a truly central location in the tri-county area.” FL

VIRAMAR ST

14. Las Olas Corridor Improvements

RIVER

5. Paramount

N IN TR A

AQUA VISTA

CO

AS

DR

TA L WW Y

BLVD

3

GRANADA ST

NE 26

TH TE

R

700 North Fort Lauderdale Beach Boulevard 18 stories, 95 units. 2,365 sf retail, 9,230 sf restaurant $120 million construction value Under Construction

RE

N BIRCH RD

HO

LE NW MIDD

2

BA YS

SEVILLE ST

BARCELONA DR

13

ALHAMBRA ST

N

SE AB R EE

SEBASTIAN ST

6. Elad Development North Tower

2939 Banyan Street 19 stories, 41 units. 256 hotel rooms Approved Plans

ZE

B LV D

SEA ISLAND DR

PELICAN DR

CASTILLO ST

VALENCIA ST

VALENCIA ST

CH

RD

CASTILLA PL

BIR

CORTEZ ST

S S CIR

S BIRCH RD

DEL MAR PL

LAS OLA

551 Fort Lauderdale Beach Boulevard 24 stories, 109 units. 181 hotel rooms $22 million construction value Under Construction Idlewyld Park

6 Las Olas Marina

Merle Fogg Park

E LAS

OLAS

BLVD

Fort Lauderdale Public Beach & Park

POINSETTIA ST

BANYAN ST

14

14

ALMOND AVE

7. Conrad Hotel

14

Oceanside Lot S ATLANTIC BLVD

LAS OLAS CIR

8. Royal Atlantic HIBISCUS PL

EW IDL

435 Bayshore Drive 11 stories, 31 units. Approved Plans

DD YL R

ALAMANDA CT HALL OF FAME DR

AURELIA PL

9

SE 5TH ST

D.C. Alexander Park

11 SEABRE

9. Fort Lauderdale Aquatic Complex

ACACIA CT

EZE BLVD

501 Seabreeze Boulevard 273,475 sf aquatic facility with parking structure $32.4 million construction value Approved Plans

POINCIANA DR

Fort Lauderdale Aquatic Complex H A LL OF FAME DR

Beach Development Project Status

1

Under Construction

10. Bayshore Club 620 Bayshore Drive 11 stories, 18 units. Approved Plans

E NEW RIVER

HARBOR

DR

CITY OF FORT LAUDERDALE

C ICENTRAL T Y O BEACH F F ODEVELOPMENT R T L A U DPROJECTS ERDALE

0

Source: City of Fort Lauderdale

DATURA CT

IDLEW YLD DR

CLEMATIS PL

250

Residential Units - 204 Hotel Rooms - 317 Retail Square Ft. - 3,894

Approved

500

1,000 Feet

I

Beach Development Projects Central Beach RAC Beach CRA Parks

Updated February 2016

CITY REPORT

In Review Residential Units - 625 Hotel Rooms - 236 Retail Square Ft. - 56,098 Office Square Ft. - 44,725

Legend

Central Beach Development 28

Residential Units - 344 Hotel Rooms - 677 Retail Square Ft. - 3,511

Photos by Jerry Wyszatycki

Las Olas Boulevard 4 level parking garage with amenity deck, 5,850 SF retail, improvements to oceanfront park and plaza In Review

RIOMAR ST

8


Rendering of Rivas, Fort Lauderdale

BUILDING BOOM Beyond downtown, Fort Lauderdale Beach is also experiencing a development surge. That includes Auberge Beach Residences & Spa, a three-tower oceanfront development on the 4.6acre former site of the Ireland’s Inn. A partnership between Related, Fortune International, and the Fairwinds Group is developing Auberge. With condo sales fetching more than $1,100 per square foot, Related and its partners are bringing new luxury products and pricing to Fort Lauderdale Beach. “With 170 units on a four-acre site, the biggest luxury is the lower density,” Rosso said. “All the units have amazing views. This project will definitely redefine Fort Lauderdale Beach.” Even as luxury residential prices rise, Fort Lauderdale Beach remains much cheaper than Miami’s high-end market. The Latin American buyers who typically buy residences in Miami are taking notice of the pricing gap, according to Jesse Ottley, president of development sales at Cervera Real Estate. Cervera is handling sales at the Ocean Resort Residences at Conrad Fort Lauderdale Beach, which includes 109 condos and beachfront villas and 181 resort residences. The property is the first Conrad resorts in North America.

“The spread between Miami and Miami Beach to Fort Lauderdale and Fort Lauderdale Beach got to where it represents significant value in the market,” Ottley said. “We have been able to speed up sales dramatically. The market is responding well to the positioning of the product and it’s branding.” Plenty of development activity is also occurring between downtown and the beaches. Along Sunrise Boulevard, the owner of the Galleria mall is proposing a major mixed-use redevelopment with a high-rise hotel, residences, and a variety of commercial space. On North Federal Highway, Bradley Deckelbaum of Fort Lauderdale-based Premier Developers, a multi-generation family company, is constructing the 100-unit Riva condo project. Deckelbaum said one of Riva’s “pleasant surprises” is that young families are part of the buyer pool. “You never would have gotten that in a waterfront condo here 10 years ago,” he said. “Fort Lauderdale has become much more of a full life-cycle city, with people raising families and moving here for their careers. And the market is still underserved because it never had the big residential boom.” The city has taken proactive measures to ensure sustainability and climate change

impacts are on the minds of developers in Fort Lauderdale. Led by former assistant city manager Susanne Torriente, the city implemented an aggressive storm water program to combat flooding in particularly vulnerable areas. Fort Lauderdale was also a driving force in creating the South Florida Compact, a voluntary agreement to form a regional action plan for the tri-county area and Monroe County. “Getting four rather large and complex counties to work on climate change and mitigation together is significant,” Torriente said. “It is being hailed as a national and international model of regional cooperation and collaboration.” As Fort Lauderdale’s new condos, apartments, and homes fill up; Ginsburg says to expect commercial real estate developers to move forward with retail, restaurant, and office projects to support the growing population. “With so many units in the residential pipeline, it is easy to understand the need for commercial uses that are also being planned and constructed,” he said. “Creating live, work, and play urban neighborhoods is good for people and the environment. We are fortunate that our city officials have the foresight to embrace this change.” FL FORT LAUDERDALE 2016

29


CITY REPORT: TRANSPORTATION

BIG BETS ON TRANSPORTATION

T

hroughout Greater Fort Lauderdale, billions of dollars are being invested in transportation infrastructure to accommodate the area’s growth and stimulate even more economic development activity. Major transportation hubs like the Fort LauderdaleHollywood International Airport and Port Everglades are in the midst of aggressive capital improvement programs, while public entities like the Florida Department of Transportation and Broward Metropolitan Planning Organization spearhead extensive upgrades to Fort Lauderdale’s major roadways and bridges. In a few years, area residents and visitors will have access to much-needed new transit offerings, including the Wave streetcar system and passenger rail with All Aboard Florida. “With growth you need transit, and vice versa,” said Chris Wren, executive director of Fort Lauderdale’s Downtown Development Authority (DDA). “When we started the Wave project and created a Transit Mobility Study, the city followed up with a master plan for downtown. It became clear that downtown would be where the development would focus, and we would have to build the infrastructure to handle that growth.” Scheduled to launch in 2018, the $140 million Wave project is designed to initially cover a 2.7-mile loop near Andrews Avenue between Northeast Sixth and Southwest 17th streets. A mix of local, state and federal government money is covering most of the project costs. Fort Lauderdale’s transportation leaders envision a future expansion of the Wave system to incorporate the airport and the Greater Fort LauderdaleBroward County Convention Center. 30

CITY REPORT

The Wave is already a catalyst for real estate development, according to Broward Metropolitan Planning Organization (MPO) executive director Greg Stuart. The MPO is overseeing more than $770 million of Fort Lauderdale improvement projects, including an overhaul of A1A along Fort Lauderdale Beach to make the block more visually appealing and pedestrian-friendly. “There is a big commitment of federal and state funds for the streetcar system,” Stuart said. “We have already started to see a lot of residential development. Developers love predictability, and once there is rail in the ground it is very difficult to take it out.” Shortly before the initial Wave route launches, the Miami-to-West Palm Beach segment of the $2.5 billion All Aboard Florida private rail system is scheduled to begin service. The 60,000-square-foot Fort Lauderdale passenger rail station at Northwest Second Avenue between Broward Boulevard and Northwest Fourth Street is under construction and on track for a late 2016 completion, according to an All Aboard Florida spokesperson. The Fort Lauderdale station alone is expected to create 800 new jobs and have a $333 million economic impact on the county by 2021. More than $34 million in local tax revenues are projected to be generated from the station. “We are in the nascent stages of moving into the multimodal transportation systems you see in other parts of the country and world,” said Fort Lauderdale Commissioner Bruce Roberts, who sits on the MPO’s Board of Directors. “As time goes on, an appreciation for the need to expand multimodal transportation will continue to grow.”

Photo courtesy of Port Everglades

Fort Lauderdale benefits from billions invested in capital improvement projects.


more than 4 million passengers in the 2014 fiscal year—and among the most active cargo ports in the U.S. “We have a perfect storm of factors in play here,” Port Everglades CEO Steve Cernak said. “We have a business need to get as much as what we have in the capital plan done as soon as possible.” In a post-Panamax world where an expanded Panama Canal is bringing larger ships to South Florida, Port Everglades is uniquely positioned to capture the increased demand. Short-term priorities include an extension of the Southport Turning Notch to alleviate cargo vessel congestion at the port’s berths, adding up to five new container cranes over the next 20 years and a harbor deepening and widening project that has been on the books for nearly two decades. “We are the north-south trade port,” Cernak said. “We already have post-Panamax vessels coming here, but they need to come light-loaded because we don’t have the depth. These improvements do help everything move more efficiently, and the consumer ultimately is the big winner.” FL

It became clear that downtown would be

where the development would focus, and

we would have to build the infrastructure to handle that growth.

— Chris Wren Aerial of Port Everglades

EXPANDING HUBS While Greater Fort Lauderdale awaits new transportation systems, its major airport and seaport are undergoing a combined $4 billion in capital improvements. At the Fort Lauderdale-Hollywood International Airport, which is benefitting from an influx of international traffic, a $2.3 billion capital improvement program is on track for completion by late 2017 or early 2018, according to Broward County Director of Aviation Kent George. All four terminals are being rebuilt and expanded to allow the airport to accommodate as many as 33 million annual passengers, up from 26 million. Plans include upgrades to the federal inspection station, retail and restaurant space, terminal building ramps and baggage systems. Through September 2015, international traffic at the airport has increased by more than 20 percent from 2014. That follows a 24 percent year-over-year increase from 2013. The airport is one of the fastest-growing international airports in the nation. “In direct correlation to the economy, we have grown and the entire aviation industry has grown,” George said. “We don’t see much change in that. The South Florida area is very strong business-wise and with discretionary spending and tourism.” Not far from the airport, Port Everglades is implementing a 20-year capital improvement program with an estimated cost exceeding $1.6 billion. Port Everglades is already one of the world’s busiest cruise ports—with

FORT LAUDERDALE/HOLLYWOOD INTERNATIONAL AIRPORT Ranked 21st in the U.S. Serves 24.6 million passengers per year Averages 621 commercial flights per day 30 airlines serving the airport Total Economic Impact: $13.2 billion Source: Greater Fort Lauderdale Alliance

FORT LAUDERDALE 2016

31


CITY REPORT: HOSPITALITY

We are not seeing any evidence

of this trend

slowing down.

—Nicki Grossman

Fort Lauderdale enjoys record hotel occupancies, influx of luxury brands

or decades Fort Lauderdale beach was considered the hot-spot for college students on spring break. Then Nicki Grossman arrived. “When I came on board in 1985, business owners and residents were really fed up with the rowdy antics of springbreakers.” Grossman who is the current president and CEO of the Greater Fort Lauderdale Convention & Visitors Bureau (GFLCVB) immediately instituted a promotional campaign repositioning Fort Lauderdale as a family friendly destination. The change has been positive for the overall tourism sector. Today the demographics are different and business is better than ever says Grossman. Although Fort Lauderdale’s hotel occupancy rates dipped slightly in January 2016 compared with the same time last year, industry specialists attribute it to the increase of nearly 3000 new hotel rooms in the city. In February 2016, the Fort Lauderdale area posted the highest occupancy rates in the state beating out both Orlando and Miami. Room rates have also continued to grow according to Smith Travel Research (STR). The data and research firm notes that the overall daily room rate in 2015 was 5.3 percent higher than the previous year. A trend that continues to rise. In Fort Lauderdale Beach, an investment group led by Swedish developer Par Sanda is transforming the North Beach Village neighborhood. Sanda’s group has acquired about 40 North Beach Village properties 32

CITY REPORT

since 2010 with the group successfully renovating 15 of the hotels, totaling about 550 rooms. The Village properties were in dilapidated shape before Sanda’s group purchased them, according to Fort Lauderdale land-use attorney Courtney Crush, who represents Sanda in his local development activity. “The renovation and modernization of the hotel interiors have already had an impact. Par has a long-term vision for what the village can be in the next 50 years, similar to the Las Olas Company’s vision for Las Olas.” More than $2 billion in hotel development, investments and improvements are planned for Broward County led by the development on Fort Lauderdale beach, according to the CVB. Plans include a Four Seasons and upscale Conrad Hotel. “The increase in five-star hotels means we can expect to see another spike in the number of affluent travelers,” Grossman says. “It’s great for the local economy and we are not seeing any evidence of this trend slowing down.” Plans to expand the Greater Fort Lauderdale-Broward County Convention Center include an on-site hotel that would add another million room nights per year. Grossman, who was inducted into the Visit Florida Tourism Hall of Fame in 2007, recently announced that she will retire in June of this year. “I’ve enjoyed it and hope to be known as someone who made a difference here.” FL

Photo courtesy of GFLCVB

F

HOSPITALITY


Greater Fort Lauderdale and Broward County Convention Center Fort Lauderdale Beach at the end of Las Olas Boulevard

GREATER FORT LAUDERDALE TOURISM INCREASE 2015 Greater Fort Lauderdale hosted 15.4 million visitors Visitors spend $14.2 billion Hotel Occupancy averaged 78.8% Tourism generated tax revenue $58.7 million 27 million air passengers 3.4 million international visitors

2014 Greater Fort Lauderdale hosted 14.3 million visitors Visitors spend $11.4 billion Hotel Occupancy averaged 78% Tourism generated tax revenue $53.4 million 24.6 million air passengers 3.3 million international visitors Source: Greater Fort Lauderdale Convention and Visitors Bureau (GFLCVB)

FORT LAUDERDALE 2016

33


The Riverside Hotel is the only hotel located in the heart of the most popular street in South Florida-Las Olas Boulevard. ~~~ Enjoy the city’s top restaurants, shops and attractions within doorsteps of our front entrance, and only minutes from the beach, you are in the best location in the regional area!

www.riversidehotel.com

620 EAST L AS OL AS | FORT L AUDERDALE FL 33301 | 954-467-0001

WILD SEA

INDIGO

With its vibrant décor and contemporary design, Wild Sea Oyster Bar and Grille has become one of Fort Lauderdale’s favorite dining, gathering and people watching spots. ~~ Raw Bar and the freshest seafood served daily

A gastronomic neighborhood staple of the prestigious Las Olas Boulevard, serving breakfast, lunch and dinner. ~~ Seafood, savory steaks, light bites and much more

www.wildsealasolas.com 954-467-2555

www.indigolasolas.com 954-467-0045


CITY REPORT: HOSPITALITY Rendering of Conrad Beach Resort and Ocean Residences

S

et on a two-acre lot between Sunrise and Las Olas Boulevards, the new Conrad Beach Resort and Ocean Residences may be on familiar territory, but make no mistake—this is not your typical Fort Lauderdale beachfront hotel. Just beyond the crowds, the North Fort Lauderdale Beach Blvd. property occupies the site of a failed condo-hotel project which had ties to developer Donald Trump. The new owner, Fort Lauderdale-based Orchestra Hotels and Resorts Development Company, made their move to purchase the building a little over two years ago, said Andreas Ioannou. Ioannou, a former executive with Hilton Hotels is the CEO of Orchestra. Together with business partner, developer Jose Luis Zapata, Orchestra has poured more than $30 million into renovations and upgrades. The 24-story resort has been transformed into the first Conrad resorts in the Americas. (The Miami Conrad, also in the Hilton Hotels Worldwide portfolio, is not in the resort collection.) On schedule for a June 2016 opening, the condo-hotel made a Cirque-du-Soleil-style debut staging an artistic, outdoor, 3-D light on the building exterior, a show put on for area visitors, dignitaries, friends and guests. The 290 units, range from studios to four-bedroom apartments to oceanfront villas and three penthouses. Prices start in the low $400s and according to Jesse Ottley, President of Development Sales for Cervera Real Estate over twenty percent of the residential units are already under contract. “The Fort Lauderdale beachfront is changing drastically,” says Ioannou. “It’s happening in waves.” Back when the Spring Break crowd became too much, area residents, business owners and city officials rolled up the welcome mats and pushed hard for a change. They put an end to overnight parking, banned alcohol on the beach and enforced the occupancy limits in hotels. A new marketing campaign targeting older and more family oriented visitors came next.

RIDING THE WAVES

That’s when Hilton, Marriott and Starwood, came and constructed hotels geared to a more upscale and family-oriented clientele. The second wave began in 2008 when the posh Ritz Carlton Hotel established a Fort Lauderdale beachhead for luxury properties. “That’s where we fit in,” says Ioannou. More high-end luxury is in the pipeline. California-based Auberge Beach Residences and Spa bought the site of the former Ireland Inn where they are targeting the luxe market, with a project slated to open in 2017. The new high end $200 million Four Seasons Hotel and Private Residences is scheduled to open doors in 2018. “What sets us apart from the other properties in this category is our real estate component,” says Ioannou. “We’re a condo-hotel. Owners can use their residences for up to 120 days per year. The rest of the time the hotel will sell the rooms and revenue will be divided.” Ioannou keeps the customer at the forefront of all he does. Years ago while working at the famed Waldorf Astoria in New York City he notes, guests were royalty, celebrities and heads of state. There was a dress code for guests… and he says it was strictly enforced. “Today our customers wear flip-flops and jeans. They are also younger, more tech savvy and often prefer a hands-off style.” Luxury is still about service but Ioannou says, it’s more personalized service. “If a guest does not want us to touch their luggage, we will not. If they do not want a wakeup call or to have their bed made up,” says Ioannou, “they can stay in bed all day.” Ioannou is confident about the Fort Lauderdale hospitality industry and the future. “The weather is perfect and, it’s so easy to get to.” According to The University of Florida’s Bureau of Economic and Business Research data, Broward County’s population will increase from 1.9 million in 2015 to 2.4 million by 2040. As visitors and potential homeowners continue to arrive, Ioannou remains future focused and is currently looking at opportunities to expand Orchestra’s holdings, “It’s really a hassle free destination,” Ioannou says, “we’re riding the waves.” FL FORT LAUDERDALE 2016

35


CITY REPORT: HOSPITALITY

T

Photo by Gort Productions

THE HEART OF LAS OLAS

Michael Weymouth and Heiko Dobrikow

Riverside Hotel owners are a fixture in the community for over 80 years. he family-run Las Olas Company—owner of the iconic Riverside Hotel has been a driving force in the evolution of Las Olas Boulevard into one of the nation’s leading urban retail and dining districts. Led by president Michael Weymouth and executive vice-president Heiko Dobrikow, the 80-year-old company is showing no signs of age. Their legendary 220-room, Riverside Hotel recently went through major renovations, including upgrades to guest rooms, convention meeting space and transformation of the Grill Room into a restaurant called Wild Sea Oyster Bar and Grille. Plans to add a mixed-use commercial building to the company’s vast portfolio are in the works. As the primary investor and property owner on Las Olas Boulevard, the Las Olas Company takes its responsibility to be a “steward” of Fort Lauderdale seriously, according to Greater Fort Lauderdale Alliance president and CEO Bob Swindell.

36

CITY REPORT

“A lot of institutional investors in Broward County buy properties like monopoly pieces,” Swindell said. “Las Olas Company approaches it differently. It is deeply vested in Fort Lauderdale.”

A BUSINESS IS LAUNCHED In the late 1920s, Weymouth’s great-grandmother and her brothers, John and Preston Wells, visited Fort Lauderdale to escape Chicago’s brutal winters. “After three years of coming down here and really enjoying it, they all built houses in the area around Las Olas Boulevard,” Weymouth said. “I am proud to say that those houses remain in the family. My mother still lives in the house my great-grandma built in 1931.” The family’s initial Fort Lauderdale business venture, the Coast Guard Cottage Development Company, constructed cottages on the beach for Coast Guard crew members. In the mid-1930s, it expanded into the hospitality business, building the Riverside Hotel, which opened in December 1936.


Riverside Hotel “The reception was so great they immediately drew up plans to add a six-story wing to the hotel,” Weymouth said. “The hotel doubled in size the following year.” With no air conditioning, the hotel only operated seasonally until the late 1970s. Becoming a year-round hotel bolstered the company’s growing profile in the district. In 2001, the company again expanded the hotel. It built a 12-story tower with a parking garage and retail space, which now houses the Havana Republic Cigar Depot and Cheesecake Factory restaurant.

RE-BRANDING RIVERSIDE As Fort Lauderdale grappled with last decade’s Great Recession, Weymouth mulled potential strategies to infuse new energy into his company and the hotel. In 2010, hotel veteran Heiko Dobrikow joined the company and immediately began working on a new identity. “One of the first things I did was reach out to the community” Dobrikow said. “I told them we are giving them their hotel back and looked to expand our relationship with the civic and business sectors. I made a commitment and asked them to embrace their community’s hotel in the heart of downtown and they welcomed us with open arms.” Next he designed and implemented a re-branding program to position Riverside as the “International Hotel of Greater Fort Lauderdale.” Dobrikow worked with the human resources’ department to hire multi-lingual employees. Dobrikow leveraged social media locally, and around the globe to introduce a monthly rotation of international cuisine at the hotel’s popular Indigo Restaurant. “Heiko is a tremendous asset,” Weymouth said. “We knew he would be a game-changer. He put this grand old hotel back on the map of the downtown Fort Lauderdale community.”

CONTINUED GROWTH Weymouth and Dobrikow continue to explore opportunities to upgrade the hotel and the company portfolio of more than 250,000 square feet of retail and office space in the district. Dobrikow oversaw all renovations including each of the 220 guest rooms, mindful to preserve the “Old Florida” style guests had grown so fond of. Improvements were made to the hotel’s upstairs convention center and function rooms, popular for weddings, parties, and civic events. It is a superb spot for weddings says Dobrikow, “You can take the elevator down for pre-wedding events here, then step right outside the door for an entire playground of restaurants, shopping, and bars.” Beyond the hotel, the company is developing a new two-story Mediterranean-style building with ground-floor retail and second-floor office space at the corner of Las Olas Boulevard and Southeast Eighth Avenue. “We have our own little market segment down here,” says Weymouth, “our commercial space is close to fully occupied all the time.” Any free time they have is spent in leadership positions with a variety of Fort Lauderdale business and civic groups. Weymouth is involved with the Broward Workshop, Downtown Development Authority, Property Owners of Las Olas (POLO), and the Riverwalk Trust. Dobrikow is the 2016 board chair of the Greater Fort Lauderdale Chamber of Commerce and holds key positions with the Florida Restaurant and Lodging Association, Greater Fort Lauderdale Alliance, Las Olas Merchants Association, and the Winterfest Boat Parade Executive Committee. Both are deeply committed to the boards they serve on and the organizations they support. It’s very important says Weymouth, “That is why we both take very proactive roles.” FL FORT LAUDERDALE 2016

37


A Landmark Restored. A Village Reborn. A Lifestyle Revealed.

1, 2, & 3 BEDROOM RESIDENCES FROM $495,000

RESIDENCES 401 Bayshore Drive Fort Lauderdale, FL 33304 SALES CENTER 2434 East Las Olas Boulevard Fort Lauderdale, FL 33301 ANOTHER FOR WARD THINKING DEVELOPMENT BY

SALES & MARKETNG BY

GaleFLL.com | 954.888.2841

This offering is subject to errors, omissions, prior sale, change of price, or withdrawal without notice, and not intended to solicit currently listed property. Oral representation cannot be relied upon as correctly stating the representatTons of the developer. For correct representations, make reference to this brochure and to the documents required by section 718.503, Florida statutes, to be furnished by a developer to a buyer or lessee. This is not an offer to sell or solicitation of offers to buy condominium units in states where such offer or solicitation cannot be made. Prices, plans, and specifications are subject to change without notice. Void in states where prohibited. Additional restrictions may apply.


CITY REPORT: NIGHTLIFE

Photo by Gort Productions

NIGHTLIFE From Revolution Live to the Broward Center for the Performing Arts, Downtown Fort Lauderdale’s entertainment scene is flourishing.

We have better operators in the district which creates a more consistent atmosphere.

—Jeff John, CEO,3J Hospitality

FORT LAUDERDALE 2016

39


YOU ARE IN GOOD COMPANY THANK YOU FOR BEING

CANCER FIGHTERS

JOIN US AT

D O L P H I N S CANCER C H A L L E N G E .COM


Photo courtesy of the City of Fort Lauderdale

CITY REPORT: NIGHTLIFE

W

hen Jeff John opened concert venue Revolution Live in Downtown Fort Lauderdale’s Himmarshee District 12 years ago, the neighborhood resembled a ghost town after business hours. Since then, a residential population influx, as well as strong entertainment operators like John’s 3J Hospitality and destinations like the Broward Center for the Performing Arts have helped create a vibrant nightlife scene. John’s company has greatly contributed to the area’s evolution and grown along with it. It now operates popular outdoor nightclub America’s Backyard, craft cocktail lounge Stache and Revolution Live, which draws some of the music world’s biggest acts through an alliance with Live Nation. Himmarshee is the oldest section of Fort Lauderdale’s commercial downtown, bounded by Broward Boulevard to the north, the New River to the south, the Florida East Coast railroad tracks to the east and Southwest Fourth Avenue to the west. On most nights, Tarpon Bend, owned by corporate group—The Restaurant People and 3J Hospitality’s threevenue complex, JEY Hospitality’s ROK: BRGR and Himmarshee Public House and other bars and restaurants in the district are flush with patrons. “We have better operators in the district which creates a more consistent atmosphere,” John said. “We have the Downtown Himmarshee Village Association that puts on big events for New Year’s Eve, St. Patrick’s Day and Halloween. By having better operators on the block, the association is running at a better pace now than ever before.”

Las Olas Boulevard at sunset Las Olas Boulevard has also become an entertainment hotbed. The Restaurant People’s YOLO and O Lounge has succeeded in a Las Olas location where five previous restaurant concepts failed. The company opened YOLO in 2008 and recently spent $1 million to renovate the venue. “Downtown Fort Lauderdale was always a place to work, and restaurants mainly catered to the surrounding areas,” said Tim Petrillo, president and co-founder of The Restaurant People. “Great restaurants can’t live on Friday and Saturday alone. In the last 10 years, the condos built in downtown and the beach really put the area over the top.” The area’s cultural amenities are expanding, led by the performing arts center, Nova Southeastern University Art Museum and the Fort Lauderdale Museum of Discovery and Science. A $58 million renovation and expansion of the performing arts center modernized and upgraded the nearly 25-year-old facility, increased the capacity for education programs and partnerships and enhanced the patron experience. Improvements included a new waterside pavilion, dedicated arts education center and on-site restaurant called Marti’s New River Bistro. “There is a very deliberate attempt to make sure that the things we are doing here dovetail into the plans the city has for activating the Riverwalk,” states Broward Center president and CEO Kelley Shanley. “The goal is to create a more inviting downtown for locals and tourists, as well as broaden community goals in the process. We don’t intend to sit on the sidelines and wait for others to show support. Our entire organization, including our board of directors sees ourselves as a true partner in the community.” FL FORT LAUDERDALE 2016

41


it’s time for fort lauderdale.

This is the waterfront condo that started the boom everyone is talking about. This is the in-the-city, on-the-water lifestyle condo we’re building now. So you can enjoy it next season. This is RIVA, Fort Lauderdale’s most beautiful new waterfront address. It comes with every luxury you could want. Including this penthouse. PREmIER DEVELOPERS

A penthouse designed with two floors, two horizons, and two ways to enjoy the waterfront:

We are pledged to the letter and spirit of the U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap, familial status or national origin. Oral representation cannot be relied upon as correctly stating representations of the developer. For correct representations make reference to the documents required by section 718.503, Florida Statues, to be furnished by a developer to a buyer.


High above it — from your private pool. And right on it — with your own boat slip. In all, nearly 7,000 s.f. of indoor-outdoor living space. Including a 2-car garage. Now offered from $2.7 million. Visit our new sales gallery at 1200 E. Las Olas Blvd. in Ft. Lauderdale 954.233.3288. riva-condo.com There’s nothing on the water like RIVA. Obtain the property report required by federal law and read it before signing anything. No federal agency has judged the merits or value, if any, of this property. All features, dimensions, drawings, graphic material, pictures, conceptual renderings, plans and specifications are not necessarily an accurate depiction and are subject to change without notice, and Developer expressly reserves the right to make modifications.


Bahia Mar Resort and Yachting Center Home of the Fort Lauderdale International Boat Show

Bahia Mar Resort Hotel: 954-764-2233 Bahia Mar Yachting Center: 954-627-6309 BahiaMarYachtingCenter.com 801 Seabreeze Boulevard Fort Lauderdale, FL 33316


EXECUTIVE CLUB

Bradley Deckelbaum, developer of Riva; Vivienne Bonet and Laura Gambino

Pam Deardon; Judy Murfin; Matto Rocco and Marijke White, director of sales for Riva

Riva, Fort Lauderdale Riva, Fort Lauderdale’s newest luxury condominium, hosted a private VIP reception at the Las Olas sales gallery in support of the Gold Coast Jazz Society. Dozens of Gold Coast Jazz Society board members and supporters attended the intimate gathering and were entertained by the organizations talented live jazz musicians.

Jazz musicians

Ed Dechant; Ona Dechant; Marijke White, director of sales for Riva; Dr. Richard Goldstein and Susan Goldstein

Tony Abbate and Cindy Eisaman

Marijke White, director of sales for Riva; Earl Bosworth and Drazia Rubenstein MAY/JUNE 2016

93


EXECUTIVE CLUB

Andreas Ioannou, Commissioner Dean J Trantalis, Mayor Jack Seiler, Jose Luis Zapata

Crowd enjoys 3-D Light Show

The Ocean Resort Residences Conrad Fort Lauderdale Beach Orchestra Hotels + Resorts, recently commemorated the launch of its one-of-a-kind, 3-D light show projected off of The Ocean Resort Residences Conrad Fort Lauderdale Beach Resort with an exclusive outdoor VIP watch party and cocktail reception featuring the city’s most notable leaders and influencers. The artistic light installation, which spanned the entire façade of the luxury condo-hotel, emphasized some of the Michael Graves-designed property’s unique geometry while showcasing the finest elements of Fort Lauderdale’s refined, nautical lifestyle. Mayor Jack Seiler, Andreas Ioannou, Commissioner Dean J Trantalis, Jose Luis Zapata

Jose Luis Zapata, Commissioner Dean J Trantalis 94

EXECUTIVE SOUTH FLORIDA

Crowd enjoys 3-D Light Show


Dane Sheldon, BankUnited; Gerry Litrento, BankUnited; and Joe Valls , Cuba Tropical

Luis Rodriguez, Optical Telecommunications; Jarvis Landry, Miami Dolphins; Mario Bustamante, Optical Telecommunications and Jose Valdes, BankUnited

BankUnited & Miami Dolphins’ Jarvis Landry Present Sunrise Student with $1,000 Award As part of its 4 Downs for Finance financial literacy program, BankUnited recently presented 15-year-old Nicole Emrick of Piper High School in Sunrise with a $1,000 cash prize and a meeting with Miami Dolphins football player Jarvis Landry.

Photos by Bob Soto

Miami Dolphins football player Jarvis Landry, BankUnited Chairman, President and CEO John Kanas, Emrick, George Emrick, BankUnited State President of Florida Thomas M. Cornish and Miami Dolphins mascot T.D.

Gus Treichel, Tom Cornish, Percy Aguila (all BankUnited) and Andre Teixeira, Graham Companies

Greg Milford & Gus Treichel both from BankUnited

MAY/JUNE 2016

95


EXECUTIVE CLUB

Daniel Arsham (Artist), George Mato (The Residences’ Vice President of sales), Amar’e Stoudemire, Ophir Sternberg (Founder and CEO of Lionheart Capital) and Michael Klug (Founder and Publisher of Whitewall)

Amar’e Stoudemire.

“In The Paint Series” celebration Lionheart Capital celebrates “In The Paint Series” together with Amar’e Stoudemire and Whitewall.

Amar’e Stoudemire art installation

Ganatra Duff & Ricardo Dunin (founding partner of Lionheart Capital, LLC) 96

EXECUTIVE SOUTH FLORIDA

Amar’e Stoudemire and Ophir Sternberg (Founder and CEO of Lionheart Capital)


Ana sofia Tarbay and Nick D’Annunzio

Rodrigo Diaz, Ilya Panchernikov, and Rafael Gill

Caviar Russe The who’s who of Miami came together recently at the Four Seasons on Brickell Avenue to welcome Caviar Russe to Miami. The New York Michelin rated restaurant served caviar topped hors d’oeuvres and champagne to its guests. With a 20-year history on Madison Avenue, Caviar Russe has chosen Miami for it diverse culture, vibrant nightlife and bustling restaurant scene.

Eduardo Materet and Athina Marturet

Photos by World Red Eye

Rebecca Brooks & Brett Abess

Diane Lieberman & Alan Lieberman

Desiree Salswach & Oscar Carvallo MAY/JUNE 2016

97


CHOW CHEF MICHAEL LEWIS

KYU

C

hef Michael Lewis knew at an early age that a conventional job was not going to work for him, and it shows in his culinary style. Embracing the Japanese practice of Wabi Sabi, Lewis finds beauty in things that are imperfect. He creates dishes that use a diversity of ingredients and cooking techniques. It’s not something that you might expect from a classically trained chef, but Chef Lewis has never been one to conform. After graduating from the prestigious Culinary Institute of America in Hyde Park, New York, Lewis trained under legendary Chefs David Bouley of Bouley Bakery and Eric Ripert of Le Bernadin. At just 25 years old, he was appointed Chef de Cuisine at the newly opened Jean-Georges restaurant on Central Park West.

98

EXECUTIVE SOUTH FLORIDA

Landing at the world-renowned Zuma after traveling around the globe for several years, Lewis was able to instill his passion for Asian style cooking, specifically yakiniku, which literally translates to “grilled meats” in Japanese. His six years at Zuma led him to partner with former general manager Steven Haigh and open Kyu in Wynwood this past February. The open exhibition kitchen and wood-fired Asian grill are designed to bring in elements of the neighborhood with raw concrete, wood, and sleek steel and metal accents. The cool vibe is underscored by Chef Lewis’ commitment to green and sustainable practices. He purchases seasonal locally sourced produce and wants to see more chefs do the same. “The Miami restaurant scene is growing in some great directions,” says Lewis. “But we do need to get on pace with other big cities and ramp up our ability to buy local and sustainable goods.” E

Photo by Juan Fernando Ayora

Chef Michael Lewis brings a cool, hip vibe to Wynwood.


Miami Green

3150 Miami Green Way

• • • • • • • • •


SBA Loans

Business Term Loans

Equipment/Inventory Financing

Home Equity Lines of Credit

Small Business Lending

Residential Mortgages

Small Business Lending

Capital Improvement Loans

Home Equity Lines of Credit

Equipment/Inventory Financing

Accounts Receivable Lending

Residential Mortgages

Professional Lines of Credit

Small Business Lending

Accounts Receivable Lending

Owner-Occupied Commercial Mortgages

SBA Loans

Business Term Loans Capital Improvement Loans

Professional Lines of Credit

Residential Mortgages

Equipment/Inventory Financing

Home Equity Lines of Credit

Business Term Loans

Home Equity Lines of Credit Small Business Lending

Capital Improvement Loans

Small Business Lending

SBA Loans Capital Improvement Loans

Residential Mortgages

Accounts Receivable Lending

Accounts Receivable Lending

Professional Lines of Credit

Professional Lines of Credit

Capital Improvement Loans

Business Term Loans Small Business Lending

Owner-Occupied Commercial Mortgages

Equipment/Inventory Financing

Residential Mortgages

SBA Loans

Small Business Lending

WE ARE REALLY LENDING.

We make business happen. City National Bank is a full service commercial bank. We lent more than $1 billion last year. Please visit any of our banking centers from Miami to Orlando or call us at 305-577-7333 or 800-435-8839.

citynational.com Member FDIC

Personal Relationships Local Decisions Stability * Loans are subject to credit and collateral approval.

Executive South Florida Magazine . May/June 2016  

Covering the dealmakers, innovators, entrepreneurs and leaders in the business community.

Read more
Read more
Similar to
Popular now
Just for you