July 2025 | Michael Fechter
Florida International University has launched a Hospitality Executive Education program that aims to help industry leaders understand everything from artificial intelligence to team building to beverage management. Courses offering certifications and micro-credentials are offered in-person at FIU’s Chaplin School of Hospitality & Tourism as well as online to provide scheduling flexibility.
Classes range from a Hotel Real Estate Leadership Certification that focuses on Latin America and the Caribbean and features Portuguese and Spanish translations, to a wine tasting experience and a coffee academy developed with LavAzza and a bar training program in partnership with the Bacardi Center of Excellence.
Tourism is Florida’s top industry and “we definitely have a labor challenge” fueled in part by significant turnover after the COVID-19 pandemic, says director Suzanne Bagnera. The 10-week asynchronous AI class “is probably the sexy course,” she says, but because of the changing nature of technology, “there’s no textbook on what’s happening in this space. There’s no curriculum. So we really had to be very grassroots and forward-thinking.”
Market Outlier
Leasing in the Miami market had a healthy first quarter after a slow 2024, Avison Young reports. Smaller spaces remain in greater demand, with 85% of this year’s leases involving 5,000 square feet or less. Rents could increase as new construction slows.
Bucking that trend, City National Bank of Florida has leased 145,000 square feet in Coral Gables to unify its 800 Miami-Dade staffers under one roof next year. The 16-story Class A space on Le Jeune Road formerly served as Bacardi USA headquarters and will be renamed City National Financial Center. City National has $27 billion in assets and plans to increase its 1,000-member workforce by 20% by the end of 2026.
NOTABLE QUOTABLE
“Being able to empathize and relate to people who are different than you is incredibly important in life.” — Peter Prieto, Podhurst Orseck partner and recipient of the American Jewish Committee of Miami and Broward’s 2025 Judge Learned Hand Award, which recognizes professional achievements and community involvement.
TECH
- Vallor, an artificial intelligence-driven platform that claims to “put contracts on autopilot,” raised $4 million in seed money. Co-founders Antonio Goncalves and Jake Vollkommer say Vallor saves time and money through instant search results and fast contract review.
DEVELOPMENT
- Terra and Fortune International Group joined forces on a $205-million purchase of the old Silver Sands Beach resort property on Key Biscayne. They plan to start construction late next year on a branded oceanfront condominium with 56 units. Touzet Studio’s design keeps resilience in mind with drainage wells, bioswales and a cistern to minimize runoff into neighboring properties.
- Farther north, Terra and Turnberry developers secured a $392-million construction loan from private equity firm TYKO Capital to build a 17-story, 800-room Grand Hyatt adjacent to the Miami Beach Convention Center. Set to open in 2027, the hotel also received a $75-million grant last year through the Miami Beach Redevelopment Agency.
- Continuum Co. is including private yacht club memberships with purchases in two new North Bay Village projects. About half the 198 units coming at Continuum Club & Residences in 2028 have been sold, while 75% of La Baia North’s 57 units are sold ahead of a planned 2027 completion. The memberships give residents access to yachts ranging from 58 to 68 feet “to truly enjoy waterfront living without the hassle of ownership.”
AFFORDABLE HOUSING
- Construction is underway on Homestead Gardens Phase I, which promises to replace aging affordable housing units with 162 new apartments, half of which are part of the Rental Assistance Demonstration program for residents earning less than half of Miami-Dade’s average median income. Two more phases will follow.
RETAIL
- High-end swimwear brand Montce is opening locations in Coconut Grove and Miami Beach’s Sunset Harbour to go along with outlets in Delray Beach and Fort Lauderdale. Montce boasts of celebrity clientele including Taylor Swift, Gabrielle Union-Wade, Jennifer Lopez and the Kardashians.
RELOCATION
- International travel insurance provider Trawick International has moved its headquarters from Fairhope, Ala., to Miami. The company says the move puts it at the heart of international business and travel and will better serve customers.
TOURISM
- Key West International Airport’s new $100-million, 50,000-sq.-ft. Concourse A is open. Designed to withstand 200-mph hurricane winds, the terminal also features eight air-conditioned glass jet bridges that will spare passengers from boarding and deplaning on the tarmac.
HEALTH CARE
- Mount Sinai Medical Center is piloting a program with the city of Miami Beach aimed at combatting antisemitism in health care. It will train doctors and health care staffers to recognize and effectively confront the hate. Antisemitism has skyrocketed globally since the Israel-Hamas war started in late 2023, and Jewish patients and health care providers have been subject to discrimination and threats, program advocates say.
Topped Off
ONE Park Tower by Turnberry at SoLé Mia entered a new phase of construction after topping off a 33-story tower that will bring 292 condominium units starting at $900,000 to North Miami next summer. It is part of a broader SoLé Mia master-planned community sandwiched between U.S. 1 and FIU’s Biscayne Bay campus.