Florals for Spring? Groundbreaking. Not in Miami, where residential developers partner with chic luxury fashion brands to build luxury branded buildings such as Fendi Chateau, Missoni Baia, Armani Casa and now, Dolce & Gabbana.
It has been revealed via a Linkedin post that the Italian fashion house is making its real estate debut with Michael Stern in Miami. While the project and neighborhood are not disclosed, those who watch the Miami development scene closely will remember that Stern’s JDS Development has a sizable project in the works in Brickell that also recently lost its brand partner.
Musical Towers (vs Musical Chairs)
For those who have not been following, Michael Stern’s JDS Development announced last summer that they would be developing a 90-story tower in Miami’s Brickell Financial District under a partnership with Major Food Group. It was to be the first real estate development by the entertainment conglomerate, called The Major. After the release development continued, although something fell apart in the partnership between JDS and Major. The tower was granted approval for the 90-story height, but no new partnership was announced.
We had assumed that Major Food Group determined that it is not the time for them to expand into real estate development, but just last week they teamed up with Terra Group and the developers of 1000 Museum on The Villa Residences in Edgewater. The reasoning really isn’t important, it could have been that MFG was looking for a different neighborhood feel, a project with fewer units, something with a different foodservice opportunity, maybe they wanted a project with waterfront vs water view, or even a personality conflict. Nobody knows and it really isn’t the important point to take from this news. Our feeling is that there is plenty of opportunity in Miami for everyone who wants to participate, so we are eager to hear what is in store for Dolce & Gabbana!
The Right Fit
It is still unclear what changes will be made to 888 Brickell upon the release of the new partnership, but in looking at the current set of renderings, they already coordinate nicely with the Dolce & Gabbana aesthetic. With loads of gold, gleaming natural light and a heaping spoonful of drama, it looks to be a match made in heaven.
We are keeping our ear to the ground and will be sure to keep you informed as the plans unfold.
If you are interested in a private presentation and specific pricing once more details are ironed out, please contact Michael Light, Broker and Executive Director of Luxury Sales at Douglas Elliman. You may reach Michael directly at (786) 566-1700 or via email at michael@miamiluxuryhomes.com.