Dezer Development and the Related Group are partnering with a luxury hotel operator to launch Rosewood Residences in Hillsboro Beach, adding to a growing pipeline of branded condo projects in South Florida.
The announcement comes more than a year after the developers secured a zoning variance that allows them to develop a 10-story, 130-foot-tall building on a site previously limited to three stories or 35 feet in height. Related and Dezer had sought to build a 15-story development at 1174-1185 Hillsboro Mile.
Sunny Isles Beach-based Dezer acquired the nearly 12-acre development site out of bankruptcy for $28.5 million in 2016. It then sold the assemblage to a joint venture with Coconut Grove-based Related for $30 million in late 2020.
The condo project could mark the only new development on the ocean in Hillsboro in about two decades, according to a press release.
The development calls for 92 residential units, including 70 condos in an oceanfront 10-story building, and a three-story building with 22 “villas” on the Intracoastal Waterway. The project will have six oceanfront penthouses, and seven penthouses fronting the Intracoastal, ranging from 2,800 square feet to 6,400 square feet, according to the release. The penthouses will include rooftop pools. The villas will be three-story condos.
Prices will start in the $4 million range for units in the Intracoastal building, and $5 million for units in the beachfront building, according to a Related spokesperson. Related’s in-house brokerage, led by Wendy Marks, will lead sales, which are expected to begin this month.
Construction could be completed in 2026, according to the release.
Arquitectonica is designing the project. Amenities will include 11 boat slips, likely in a marina on the Intracoastal side of the property; as well as a wellness center; fitness centers with sports courts; an oceanfront restaurant, cocktail lounge and cafe; an oceanfront pool and spa; game room with virtual reality simulators; and luxury suites for visitors.
Related and Dezer have worked together before. They co-developed Residences by Armani/Casa, a luxury condo tower in Sunny Isles Beach; and Dezer also worked with Related on Hyde Midtown, a condo and hotel building in Midtown Miami.
The Hillsboro Beach project will mark at least the second Rosewood Hotels & Resorts-branded luxury condo planned in South Florida. Rosewood is set to brand Michael Shvo’s redevelopment of the Raleigh hotel and adjacent properties into a 60-key hotel and a 44-unit condo tower.
Hong Kong-based Rosewood manages 30 hotels in 18 countries, and has residential developments in Naples, Beverly Hills, Dallas and outside of the country, according to its website.
Branded developments have boomed in South Florida, with many developers working with hotel operators that include the Four Seasons, Ritz-Carlton, Aman and others. Gil Dezer, a car enthusiast, developed the Porsche Design Tower in Sunny Isles Beach, and is working on the planned Bentley Residences, also in Sunny Isles. Many of Related’s projects in the presales or construction phases are also branded, ranging from the St. Regis Residences planned in Brickell with its partner Integra Investments, to Casa Bella by B&B Italia in downtown Miami.
Developers will pay branding fees, which can range from 3 percent to 8 percent of sales, and most branding agreements are for 10 years, according to brokers. Those deals are typically extended. Once the building is delivered, owners pay brand management fees as part of their HOA dues.
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