Construction Today - November/December 2012 - (Page 58)

Residential | REGALIA BEACH DEVELOPERS LLC – REGALIA Your Own Floor THE REGALIA CONDOS BRING LUXURY LIVING TO THE FLORIDA COAST. BY RUSS GAGER F LO RID A FO CUS • Project cost: More than $200 mil • Location: Sunny Isles Beach, Fl lion a. • Employees onsite at peak: Approximately 300 • Scope of work: Luxury condominiu ms Regalia Beach Developers LLC – Regalia “You feel like you’re part of the outdoors.” -Louis Montello, president Beach Developers is »Regalia work on the 47-story hard at Regalia condo project. B 58 ecause of various financial issues from previous owners, Regalia Beach Developers LLC decided to start construction of its eponymous luxury high-rise condominium tower in Sunny Isles Beach, Fla., before sales started to show that it was going to happen. “We commenced construction immediately and then six months later started sales,” President Louis Montello points out. “The project had started and stopped numerous times under the previous developer. It was very important for people to realize it was going to happen this time. So we took an aggressive approach of starting construction before launching sales, and I think we hit the market exactly right.” A bank that had made the construction loan for the original developer of Regalia failed in 2009, and the Federal Deposit Insurance Corp. sold the note for Regalia to a Texas bank. A private lender who was Montello’s client held the second mortgage for the project and purchased the entire project under the name Regalia Beach Developers LLC. “At that point, all the permits and plans were in place,” Montello states. “Fortunately, they had already done all the test pile work. It took me about six months to re-engage the architect and engineering consultants, get them back on board and hire a development team to get going again. During that period of time, we started to interview and participate with the general contractor to decide who would be selected for the balance of the construction work.” Construction began in November 2011, and completion is scheduled for the fourth quarter of 2013. Now more than 40 percent sold and halfway to completion, Regalia is the first of several condominium projects being built in the area. “We’re the ones who came out of the ground first,” Montello points out. “What’s great about our site is we’re bordering Golden Beach, which is all single-family homes. So we have unobstructed views to the east and northwest, and the closest building to the south is 380 feet. No one has the kind of views we do and one unit per floor. The views are incredible.” Luxury Living The 47-story Regalia – the project cost of which will range close to $200 million – will have 37 single-floor residences plus two two-story residences, all with 360-degree views from floorto-ceiling windows. The approximately 5,600-square-foot singlefloor units will have an extra 2,100 square feet CONSTRUCTION-TODAY.COM NOVEMBER/DECEMBER 2012 http://www.CONSTRUCTION-TODAY.COM

Table of Contents for the Digital Edition of Construction Today - November/December 2012

Construction Today - November/December 2012
Construction Law
Best Practices
Hurricane Sandy
Marketing Strategies
Holcim (US) Inc.
Tampa Tank Inc./Florida Structural Steel
Rockwell Group
IVM Construction Inc.
Millennium Partners – Millennium Place
Paradigm Cos.
W.G. Yates Construction
Regalia Beach Developers LLC – Regalia
Marlyn Development and S.L. Nusbaum Realty – Heritage Forest Apartments
Chas Roberts Air Conditioning
Bellini Williams Island
Beal|Derkenne Construction – The Hub
Cedar Siding Inc.
Nibbi Bros. – Hunters View Phase 1
EllisDon Corp. – Surrey Memorial Hospital Critical Care
Turner Construction – Martin Army Community Hospital
U.S. General Services Administration/VCC – FBI Field Building
The Hayner Hoyt Corp.
Paric Corp.
Rotondo Weirich Enterprises Inc.
Advocate Christ Medical Center and Pepper Construction – Outpatient Pavilion expansion
Shawnee Mission Medical Center – United Excel – Birth Center
National Lutheran Communities & Services – The Village at Rockville/ARCH Consultants Ltd.
Harold O'Shea Builders – Springfield Clinic First North
Dewberry/Okland Construction – Western Regional Medical Center Addition
Kohler Ronan LLC
Graber Post Buildings Inc.
Tooz Construction Inc.
Bombardier Learjet – Facility Expansion
Rock Gaming LLC – Horseshoe Casino Cincinnati
Demar Plumbing Corp.
Metrolina Greenhouse
Rommel Cos.
W.G. Tomko Incorporated Contractors
Continental Contractors
Reliable Contracting Co. Inc.
Graham Construction and Engineering – Wastewater Treatment Plant Upgrade
J.R. Filanc Construction Co. Inc.
Pulice Construction Inc. – I-10 Prince Road
Ames-Granite – US 36
Tomar Construction
E.E. Cruz/Tully – Bronx-Whitestone Bridge Queens approach
TL Wallace Construction Inc.
CARCON Industries and STL Engineering
Last Look

Construction Today - November/December 2012