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and said they plan a joinr venture to developthe property. The , is to rise on the 10 waterfront acresthe 645-room Sheraton has occupied across the stree from . The property woulx be the second St. Regis Resort Residences in the area. The 169-room Fort Lauderdaled property isunder construction, due to open in the second Though their development deal is not yet Miami-based Related Group and White N.Y.
-based Starwood (NYSE: HOT) said they have already tappec professionals for the , known for its work impacting the Chicago skyline local firm , known for condoz including , and in Miami Beach, all Related Group properties landscape architect , the originapl landscape designer for the Village of Bal Harbout and the Bal Harbour Shops Steven Heyer, Starwoodr chief executive officer, praised Related Group'zs experience in development, project conceptualization, mixed-use development and salese and marketing for upscale residential projects in South Florida.
He calledx those qualities a perfect complement tohis company's ultra-luxury loyal customer base and existing, untapped real estatse holdings. "We expect that this relationship will allow us to maximiz e the unrealized potential of our land while enhancing the strengthof Starwood's presence in this affluengt market," Heyer said. The partners did not give an idea how largre the new buildingmight be. However, amenitiees planned for the St. Regies Resort & Residences, Bal include butler and concierge a spaand restaurant.
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