This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Development Blooms Again in Miami Beach

Just down the street, closer to the heart of South Beach, another starry developer is a bit closer to opening: LA-based SBE and its Miami Beach debut, the SLS South Beach. The Miami take on the L.A. hotel made famous by top Hollywood nightlife proprietor Sam Nazarian (behind such brands as Katsuya and Hyde) comes to a prized section of the historic beach town near such posh neighbors as the Delano and Raleigh and in the former Ritz Plaza Hotel, a landmark complex with an iconic tower silhouette. It's been fully reworked with the help of Philippe Starck to create a luxurious party atmosphere with a designer touch.

Accepting reservations as of June 14, SLS South Beach will be an embassy of starry names including James Beard Award-winning chef Jose Andres, who will put a Miami beat on his whimsical Spanish tapas menu at The Bazaar -- still one of L.A.'s top restaurants after almost four years. And no L.A. tribute would be complete without a sushi restaurant (and a great one at that) with Katsuya offering a sexy dining and lounge space led by chef Katsuya Uechi.

The resort area of the former Ritz Plaza has been reworked with two-story annex jutting out of the main building with a slatted wood facade and flat roofline that faces two resort pools. The hotel will be also home to a new Hyde Day Club, a splashy spinoff of the owner's notorious VIP nightclub, which will also have an outpost inside the Miami hotel. Rooms put a 2012 stamp on classic Starck, with minimalist white spaces echoed in Louis XVI details that adapt well to Miami Beach.

Meanwhile in Miami's booming Design District, international conglomerates such as Louis Vuitton have ditched their longtime digs in famous Bal Harbour to join the likes of Hermes, Dior and Fendi establishing permanent locations in the once derelict area. The upscale brands join existing designers such as Martin Margiela, Christian Louboutin and Christian Liaigre, who have long-established storefronts in the neighborhood. The popularity of the Design District has been a boon for real estate owners in the once down-and-out area, which now commands some of the highest retail rents in the city, but at the same time driving out independent retailers such as Tomas Meier, who will relocate this summer.

Other ambitious developments across Miami include Resorts World Miami's revamped proposal to build a $3 billion luxury mixed-use development on land occupied by the Miami Herald building. With plans for a casino sidelined, the famous parcel along Biscayne Bay with 800 feet of water frontage would be home to an impressive condominium project designed by Miami-based Arquitectonica as well as a five-star hotel with mixed retail and entertainment complex that could be one of the largest real estate projects to hit Miami in decades.

Michael Martin is the managing editor of JetSetReport.com, a luxury travel and lifestyle guide based in Los Angeles and London. His work has appeared in InStyle, Blackbook, Elle, U.K.'s Red magazine and on ITV and the BBC.
2 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,943.81 +28.74 0.17%
S&P 500 1,967.57 +2.89 0.15%
NASDAQ 4,415.49 +19.2860 0.44%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs