February 10, 2006
The Ritz-Carlton Club and Residences, South Beach to Bring Legendary Ritz-Carlton Lifestyle to Miami Beach Real Estate Market
MIAMI BEACH, Fla. – February 10, 2006 – The Ritz-Carlton Club and Residences, South Beach, the first development of both whole and fractional residences in Miami, will officially launch sales beginning March 1. To be developed at the site of Miami Beach’s historic Seville Beach Hotel, the project will offer just 89 whole ownership Residences and 45 fractional Club residences. Initial sales will focus on the private ownership Residences with fractional Club sales following this summer.
The beachfront property offers Owners and Club Members all the comforts of living full- or part-time with the legendary, personalized services and amenities of The Ritz-Carlton. To date, planned Residence amenities include dedicated concierge, in-residence gourmet dining, a state-of-the-art fitness facility and full-service Ritz-Carlton Spa, Ritz Kids program, and a beachfront experience complete with a swimming pool, whirlpool spa and Ritz-Carlton’s signature cabanas.
The joint-venture partnership formed to develop The Ritz-Carlton Club and Residences, South Beach combines the expertise of luxury hotelier, Lionstone Development, owners of The Ritz-Carlton, South Beach and co-developers of Epic Residences & Hotel in Downtown Miami; Fortune International, luxury developers of Jade Residences at Brickell Bay, Jade Ocean, Jade Beach and Le Meridien Sunny Isles Beach.; and The Ritz-Carlton Hotel Company, the recognized leader in luxury and service.
Plans call for the existing Seville Beach Hotel, located at 2901 Collins Avenue, to be revitalized and converted into The Ritz-Carlton Club and Residences, South Beach, along with the addition of two new 17-story and 20-story residential towers designed by Miami-based architect, Luis Revuelta of Revuelta Vega Leon.
The Residences will offer spacious one-, two-, three- and four-bedroom floor plans and a select few five-bedroom penthouses and townhomes. Ranging in size from 941 to 7,300 square feet, residences will feature magnificent ocean and city views from expansive terraces, fully-equipped kitchens with the finest appliances and beautifully-appointed room finishes. Prices begin at the $900,000s.
The Ritz-Carlton Club offers deeded, fractional ownership interests with 21 days. Designed as a private club, Members have the opportunity to access their home Club or other Ritz-Carlton Clubs through reciprocal usage privileges. Members also have the opportunity to utilize additional time as available. Ritz-Carlton Club locations include: Aspen and Bachelor Gulch, Colo.; St. Thomas, U.S. Virgin Islands; Jupiter, Fla., and San Francisco, Calif. (opening 2007).
Construction for The Ritz-Carlton Club and Residences, South Beach is slated to begin in December 2006, and occupancy is scheduled for November 2008. A temporary sales gallery is now open at The Ritz-Carlton, South Beach, located at One Lincoln Road. An on-site sales gallery will premiere in late 2006. For more information, please visit www.rcc-southbeach.com or call 305.672.0612.
The Ritz-Carlton Club and The Ritz-Carlton Residences
The Ritz-Carlton Club is a deeded, fractional ownership real estate offering combining the benefits of second home ownership with personalized Ritz-Carlton services and amenities. Designed as a private club, Members have the opportunity to access their Club or other Ritz-Carlton Clubs. The Ritz-Carlton Residences are luxurious residential condominiums which feature the company’s legendary service.
Lionstone Development
Miami-based Lionstone Development has a 30-year track record of owning, developing, leasing and managing hospitality, gaming and residential properties throughout South Florida and the Caribbean. Original owners of the Seville Beach Hotel, Lionstone’s portfolio also includes The Ritz-Carlton, South Beach, Hilton Curaçao Resort & Casino and Breezes Curaçao Resort and the company is developing more than 2.5 million square feet of residential and mixed-use space including The Ritz-Carlton Club & Residences, South Beach; Epic Residences & Hotel in downtown Miami, and Acquamarina Town Homes on Hendricks Isle in Fort Lauderdale.
Fortune International
South Florida’s foremost full-service real estate development and brokerage firm, Fortune specializes in developing, sales/marketing, construction management and hospitality for ultra-luxury properties. The company has 17 offices in South Florida and subsidiaries throughout Latin America. Fortune’s hospitality division is currently in partnership with such prestigious brands as The Ritz-Carlton, Sonesta, and Le Meridien.
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