JV Partners Pairing Again for Fontainebleau III

The two developers joined in 2001 to introduce the 36-story Fontainebleau II condominium-hotel, which is under construction adjacent to the future site of Fontainebleau III. Fontainebleau III will be located on the south end of the resort's property.

Plans for Fontainebleau III come on the heels of the success of Fontainebleau II. "With more than $200 million in sales, Fontainebleau II has been an unqualified success," according to Melanie Muss, vice president of development for the Fontainebleau. Fontainebleau II is more than 90% sold.

Sales for Fontainebleau III are set to launch in March, says Bruce Weiner, president of Turnberry Associates Residential Division. These furnished junior and one-bedroom suites, which will range in size from 500 sf to 1,000 sf, plus the terraces, are priced between $350,000 and $1 million.

For Fontainebleau III, project architect John Nichols is creating a replica of the facade of the Fontainebleau's Sorrento building, which it is replacing. Nichols' concept received unanimous approval from the City of Miami Beach's Design Review Board recently. The project is scheduled to break ground in early 2005.Amenities will include a private owner's lounge and fully staffed lobby, a pool, 24-hour security, valet parking, in-room dining, concierge and housekeeping services, and several restaurants, lounges and the La Ronde Room. The property also will offer more than 1,000 feet of private beach. Owners can live in their apartments all year, or when they are not there, they can add their home to the Fontainebleau/Hilton-managed hotel suite program.

Turnberry Associates, based in Aventura, FL, has developed several South Florida projects, including Turnberry Isle Resort and Golf Club, Porto Vita, Aventura Mall and currently, Turnberry Ocean Colony in Sunny Isles.