MIAMI | Development Thread - Page 12

brickell · #**221** Posted **Sep 20, 2006, 1:15 PM**

don't forget that Magic Johnson has done rather well for himself in real estate (it seems). There is a precedent here. It just depends on who's managing the money for them.

Dale · #**222** Posted **Sep 20, 2006, 1:47 PM**

Quote:

Originally Posted by brickell

don't forget that Magic Johnson has done rather well for himself in real estate (it seems). There is a precedent here. It just depends on who's managing the money for them.

Yes, it's hard for me to see how Shaq and his money can be anything other than a blessing for Met.

brickell · #**223** Posted **Sep 20, 2006, 3:08 PM**

More on the O'Neal group in today's Herald

http://www.miami.com/mld/miamiherald/15559482.htm
Shaq takes on real estate market
Heat star Shaquille O'Neal has launched a real estate and development company called The O'Neal Group.
BY MATTHEW HAGGMAN
mhaggman@MiamiHerald.com
ALLEY-OOP: Shaquille O'Neal announces his real estate venture with partner Luis Pulenta, developer of Met Miami and a principal at Miami-based MDM Development.
PATRICK FARRELL/MIAMI HERALD STAFF"
ALLEY-OOP: Shaquille O'Neal announces his real estate venture with partner Luis Pulenta, developer of Met Miami and a principal at Miami-based MDM Development.

* Video | O'Neill launches real estate company

Shaquille O'Neal is taking his game to downtown Miami, but in the real estate market rather than the hard court.

The Miami Heat star announced Tuesday the formation of The O'Neal Group, a real estate company, to organize his property holdings and invest in new projects. His first venture: investing in a billion-dollar development called Met Miami that encompasses three blocks in the heart of downtown.

''People sometimes ask me who is my favorite athlete. They expect me to say Chamberlain, Russell, Kareem,'' said O'Neal, ticking off the names of former basketball greats. ``But I say Dave Bing, because he did great things after basketball.''

Bing, a prolific scoring guard now enshrined in basketball's Hall of Fame, runs a multimillion-dollar steel business in Detroit and is a civic leader there.

O'Neal said he wants to make a similar mark in Miami and intends to keep a home here after his basketball career. However, O'Neal said his primary residence will remain in Orlando, which he has called home since launching his professional basketball career with the Orlando Magic.

FINANCE SILENCE

Neither The O'Neal Group Vice President Christopher Handy nor Met Miami developer Luis Pulenta would provide specifics about financial arrangements. But each said they involved a significant financial investment by the Heat center.

''This is not a fee arrangement, I am partners with the gentleman to my right,'' said O'Neal, referring to Pulenta, who is a principal at Miami-based MDM Development. The O'Neal Group said it would also assist in marketing the project.

Plans for the Met Miami call for two condominium towers, an office and Marriott Marquis hotel, upscale shopping and a movie theater.

Retailers include the grocery store Whole Foods, and O'Neal plans to bring in his 24-Hour Fitness/Shaq Ultra Sport workout facility.

The project is going on land that once housed the historic Royal Palm Hotel built by industrialist Henry Flagler.

The condo tower Met One at Biscayne Boulevard and Biscayne Way is under construction, and preliminary work is underway for the other buildings.

O'Neal said he has invested in real estate for more than a decade, including strip malls and residential rental properties. The company is targeting mixed-use projects that focus on what Handy called ''integrated living'' and is exploring several other deals.

MAGIC'S FOOTSTEPS

O'Neal is not the first NBA star to move into real estate.

Earvin ''Magic'' Johnson, the former guard who led the Los Angeles Lakers to five NBA championships, launched Canyon-Johnson Urban Funds after his playing career ended. That fund, with nearly $1 billion in capital, has focused on urban renewal projects across the country. Johnson's South Florida investments include the Downtown Dadeland condo and retail project in Kendall.

''This lovely thing we do, we can't do forever,'' O'Neal said, who won his fourth NBA title this year after the Miami Heat beat the Dallas Mavericks in six games. ``We've scoured the country to find an appropriate venue through which we could launch the O'Neal Group and ultimately decided that the best place to start was in our own backyard.''

brickell · #**224** Posted **Sep 20, 2006, 3:16 PM**

while we're at it,

Glenn Straubb, owner of the old Miami Arena is now sueing to block the sale that he agreed to earlier. The developers he sold it to planned to flip to MLB for the new Marlins stadium. The stadium has apparently been in the works for a while. Straubb could end up being a major road block to a new downtown ballpark.

http://www.miami.com/mld/miamiherald/15559483.htm

It'll be interesting to see where it goes from here.

Dale · #**225** Posted **Sep 20, 2006, 6:13 PM**

this Straub fellow is not going quietly into the night, is he ?

brickell · #**226** Posted **Sep 20, 2006, 10:41 PM**

Met3 towers over Shaq.

Dale · #**227** Posted **Sep 20, 2006, 11:27 PM**

This is actually pretty cool.

Dale · #**228** Posted **Sep 21, 2006, 2:47 AM**

And how indebted would Miami be if Shaq got Miami its first NBA championship and also got its new tallest built in the course of a year ?

What next ? Mayor ?

Dale · #**229** Posted **Sep 21, 2006, 3:27 AM**

I hear this story was on FOX News tonight. They made reference to 'the tallest residential building south of NYC'.

BornInTheGrove · #**230** Posted **Sep 21, 2006, 3:27 AM**

lol... he'll be sooo popular, we'll elect him Sheriff

skyscraperfan23 · #**231** Posted **Sep 21, 2006, 5:07 AM**

Quote:

Originally Posted by brickell

Met3 towers over Shaq.

That's Funny

skyscraperfan23 · #**232** Posted **Sep 21, 2006, 5:09 AM**

Quote:

Originally Posted by brickell

More on the O'Neal group in today's Herald

http://www.miami.com/mld/miamiherald/15559482.htm
Shaq takes on real estate market
Heat star Shaquille O'Neal has launched a real estate and development company called The O'Neal Group.
BY MATTHEW HAGGMAN
mhaggman@MiamiHerald.com
ALLEY-OOP: Shaquille O'Neal announces his real estate venture with partner Luis Pulenta, developer of Met Miami and a principal at Miami-based MDM Development.
PATRICK FARRELL/MIAMI HERALD STAFF"
ALLEY-OOP: Shaquille O'Neal announces his real estate venture with partner Luis Pulenta, developer of Met Miami and a principal at Miami-based MDM Development.

* Video | O'Neill launches real estate company

Shaquille O'Neal is taking his game to downtown Miami, but in the real estate market rather than the hard court.

The Miami Heat star announced Tuesday the formation of The O'Neal Group, a real estate company, to organize his property holdings and invest in new projects. His first venture: investing in a billion-dollar development called Met Miami that encompasses three blocks in the heart of downtown.

''People sometimes ask me who is my favorite athlete. They expect me to say Chamberlain, Russell, Kareem,'' said O'Neal, ticking off the names of former basketball greats. ``But I say Dave Bing, because he did great things after basketball.''

Bing, a prolific scoring guard now enshrined in basketball's Hall of Fame, runs a multimillion-dollar steel business in Detroit and is a civic leader there.

O'Neal said he wants to make a similar mark in Miami and intends to keep a home here after his basketball career. However, O'Neal said his primary residence will remain in Orlando, which he has called home since launching his professional basketball career with the Orlando Magic.

FINANCE SILENCE

Neither The O'Neal Group Vice President Christopher Handy nor Met Miami developer Luis Pulenta would provide specifics about financial arrangements. But each said they involved a significant financial investment by the Heat center.

''This is not a fee arrangement, I am partners with the gentleman to my right,'' said O'Neal, referring to Pulenta, who is a principal at Miami-based MDM Development. The O'Neal Group said it would also assist in marketing the project.

Plans for the Met Miami call for two condominium towers, an office and Marriott Marquis hotel, upscale shopping and a movie theater.

Retailers include the grocery store Whole Foods, and O'Neal plans to bring in his 24-Hour Fitness/Shaq Ultra Sport workout facility.

The project is going on land that once housed the historic Royal Palm Hotel built by industrialist Henry Flagler.

The condo tower Met One at Biscayne Boulevard and Biscayne Way is under construction, and preliminary work is underway for the other buildings.

O'Neal said he has invested in real estate for more than a decade, including strip malls and residential rental properties. The company is targeting mixed-use projects that focus on what Handy called ''integrated living'' and is exploring several other deals.

MAGIC'S FOOTSTEPS

O'Neal is not the first NBA star to move into real estate.

Earvin ''Magic'' Johnson, the former guard who led the Los Angeles Lakers to five NBA championships, launched Canyon-Johnson Urban Funds after his playing career ended. That fund, with nearly $1 billion in capital, has focused on urban renewal projects across the country. Johnson's South Florida investments include the Downtown Dadeland condo and retail project in Kendall.

''This lovely thing we do, we can't do forever,'' O'Neal said, who won his fourth NBA title this year after the Miami Heat beat the Dallas Mavericks in six games. ``We've scoured the country to find an appropriate venue through which we could launch the O'Neal Group and ultimately decided that the best place to start was in our own backyard.''

That's Why I Love shaq.

umiami305 · #**233** Posted **Sep 21, 2006, 6:44 AM**

Shaq being involved with the Metropolitan Miami project is good news. Why all the haters? Now it really looks like will be able to see MET 3's beautiful legs MDM has been advertising us.

arch photographer · #**234** Posted **Sep 21, 2006, 10:34 AM**

The power that people like Shaq has is almost immeasurable. Look at AIR Jordans. He'll get half of the HEAT to buy discounted units there, and then there will be ten thousand CEO's with money coming out their ears who never landed a swish in their lives, until they got behind a corporate desk, and they will but units and think that they are players, for the HEAT and the other kind of player.

Paul305 · #**235** Posted **Sep 21, 2006, 4:36 PM**

Quote:

Originally Posted by Dale

And how indebted would Miami be if Shaq got Miami its first NBA championship and also got its new tallest built in the course of a year ?

I think Shaq already qualifies as Miami's tallest built...

dave8721 · #**236** Posted **Sep 21, 2006, 8:29 PM**

Some Herald webcam updates:

Apogee & Continuum II on South Beach:

The 2 Avenue towers:

A glimpse of one of the Axis towers:

The Biscayne Wall (MarinaBlue, 900 Biscayne, 10 MP, & Marquis)

Brickell on the River 2 & the 2 500 Brickell towers:

groundwork at the Capital at Brickell site:

the 2 Everglades on the Bay towers & 50 Biscayne peeking in as well:

part of Icon:

The first Infinity tower:

Ivy & Wind:

Completed NeoVertika, Latitude almost topped off and Latitude One office building U/C:

Loft 2

Met 1

Met 2 & 3 making good parking lots & Epic going vertical:

Midtown:

Opera Tower:

The 2 Plaza on Brickell towers:

Some west Brickell construction:

brickell · #**237** Posted **Sep 21, 2006, 8:33 PM**

good job. Are those all from today?

dave8721 · #**238** Posted **Sep 21, 2006, 8:37 PM**

Quote:

Originally Posted by brickell

good job. Are those all from today?

Yep from this afternoon actually.

BornInTheGrove · #**239** Posted **Sep 21, 2006, 8:47 PM**

Wow, awesome shots dave. Good job and thanx for the update.

I recently passed by Midtown traveling on I-195 on my way to the beach, and i noticed how far along the Midtown project is. They already have these big giant letters facing the expressway proclaiming 'M-I-D-T-O-W-N'

The Mad Hatter · #**240** Posted **Sep 21, 2006, 10:15 PM**

brickell-quote
"MAM chooses Herzog and de Meuron for the new building.
http://southflorida.bizjournals.com/...l?surround=lfn
can't wait to see some renderings."

Why is no one excited about this...this should of been frontpage news....Back when i heard that the MAM was trying to choose an architect to design the new building first name that popped in was Herzog de Meuron, they're great....some pictures of there work...Hopefully the museum people dont get cheap.