Service-driven amenities claim the future of luxury condos.

A team of lauded visionaries have come together to revolutionize the Miami Beach lifestyle, crafting a residential building with unprecedented amenities and services.

Residential redevelopment of South Florida shopping centers is becoming more common, amid solid demand for rental housing and a slack market for retail space. This month, Houston-based developer Morgan Group won a land-use change to build 356 apartments on the site of a former Macy’s store and parking lot at Pompano Citi Centre, a shopping center in Pompano Beach on the southwest corner of Copans Road and Federal Highway.

Welcome to the fourth edition of the Florida 500, a special publication that highlights the 500 most influential executives in different economic sectors throughout the state. This immense, year-long research initiative by the editors of Florida Trend has resulted in a personal, engaging look at the state's most influential business leaders. 

It’s out with the old and in with the new for Miami’s Doral Square retail center. UFC Gym — a franchise chain owned by former MLB superstar Alex Rodriguez’s investment firm — is expanding into Miami with its fifth South Florida location. The gym will be filling a space previously assigned to 24 Hour Fitness, after the company filed for bankruptcy last year and announced it would close 130 locations nationwide.

David Martin wants to build better neighborhoods. His firm, Terra, has developed more than 5 million square feet of residential, commercial and mixed-use projects. Another 3 million or so square feet are on the way, adding up to more than $8 billion portfolio of assets. In the 20 years since he co-founded Terra with his father, Pedro Martin, the company’s aim has shifted from a traditional development approach to one focused on neighborhood strategies – assessing what needs there are in a given area and then filling those voids with smart, design-driven products that serve as catalysts for broader community improvements.

Why not outsource your green thumb?

Miami Beach developers Russell Galbut and David Martin scored a $345 construction loan for their planned residential tower at the entrance to South Beach, marking one of the largest loans to close in South Florida during the pandemic, The Real Deal has learned. Galbut’s GFO Investments and Martin’s Terra are partnering on the project at 500 Alton Road, formerly home to the South Shore Hospital site. The 519-foot tower, which would be the largest in Miami Beach when it’s completed in 2023, is now called Five Park, Martin told TRD.

EXCERPT Blackstone, Apollo Lend $345 Million to Build Miami Beach Tower

Blackstone Group Inc. and funds managed by Apollo Global Management Inc. loaned $345 million for a residential project that will be the tallest building in Miami Beach, paving the way for a groundbreaking next month.