Construction Today - January/February 2013 - (Page 46)
Residential | REGALIA BEACH DEVELOPERS LLC – REGALIA
Your Own Floor
THE REGALIA CONDOS BRING LUXURY LIVING TO THE FLORIDA COAST. BY RUSS GAGER
Regalia Beach Developers LLC
• Project cost: More than $200 mil
• Location: Sunny Isles Beach, Fl lion
• Employees onsite at peak:
• Scope of work: Luxury condominiu
“You feel like you’re part of
the outdoors.” -Louis Montello, president
Beach Developers is
»Regalia work on the 47-story
Regalia condo project.
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
CONSTRUCTION-TODAY.COM JANUARY/FEBRUARY 2013
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.”
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
Table of Contents for the Digital Edition of Construction Today - January/February 2013
Construction Today - January/February 2013
Consigli Construction – Wat Nawamintararachutis NMR Meditation Center Thai Buddhist Temple
The Michaels Organization – University Student Living
Clark Builders – The Mustard Seed
JC Beal Construction Inc.
Plaza Construction – ENV
Regalia Beach Developers LLC – Regalia
Batson-Cook Construction – SkyHouse Orlando
Billingsley – Cypress Water Dallas
Jon M. Hall Co.
John Moriarty and Associates – Charlesview Residences at Brighton Mills
Daikin America – Plant Expansion Project
MSI General Corp.
ClearSpan Fabric Structures
TOPCOR Companies LLC
Coatings Unlimited Inc.
Brencal Contractors Inc.
Del’s Construction Co. Inc. – Cambria Production Facility Expansion
Archer Western – Consolidated Courts Complex
McCarthy Building Cos. – Mercy Hospital Joplin
University of Maryland Medical System – Trauma Center Expansion
Swinerton Builders – San Joaquin Community Hospital Cancer Center
The Lemoine Company – Lafayette General Medical Center expansion
L.F. Driscoll – Temple University
FIP Construction Inc.
National Lutheran Communities and Services – The Village at Rockville
Carothers Construction Inc. – Special Operations Command South Headquarters
The Hillman Group
Tooz Construction Inc.
Woolley’s Classic Suites
Structure Tone – Novo Nordisk Inc. North American headquarters
Gilbane Building Co. – Potawatomi Bingo Casino hotel
Pacific Building Group
Denark Construction – Owensboro-Daviess County Convention and Events Center
Traylor Bros. Inc.
Bobcat Contracting LLC
Reliable Contracting Co. Inc.
Union County and KemperSports – Galloping Hill Golf Course Clubhouse and Learning Center
E.L. Robinson Engineering
INDOT: 1-69 Corridor
Wood's CRW Corp.
Construction Today - January/February 2013