Developer and nightclub guru Michael Capponi has joined the Costa Hollywood Condominium Resort project under construction in Hollywood Beach, The Real Deal has learned.
Costa developer Moses Bensusan brought Capponi in to assist with branding, marketing and strategic partnerships at Costa, according to a project spokesperson. Capponi plans to help attract at least five restaurants, lounges and high-end retail tenants. Construction of the $180 million residential complex began in June.
Capponi became a household name in the Miami Beach nightclub scene during the early 1990s. In 2004, he teamed up with Gregg Covin and architect Chad Oppenheim to develop Ten Museum Park in downtown Miami.
“I see Hollywood Beach Village as the new South Beach entertainment district for this zone,” Capponi said in a written statement. “There are more than 200,000 people between Aventura, Golden Beach and Hollywood that will be thrilled to see the changing landscape.”
Costa plans call for 307 furnished studio, one- and two-bedroom units priced between $250,000 and $800,000. Units range in size from 400 to 1,500 square feet. The project is scheduled for a 2015 completion.
To celebrate the new partnership, Bensusan and Capponi are hosting a private party at Soho Beach House tomorrow night. — Eric Kalis