Turnberry Associates
Encyclopedia
Turnberry Associates is an American real estate developer
in residential, retail, hospitality and office. The company has developed more than $7 billion in commercial and residential property, including approximately 20000000 square feet (1,858,060.8 m²) of retail space, more than 7,000 condominium
and condo-hotel
residences, 1500000 square feet (139,354.6 m²) of class "A" office space and in excess of 2,000 hotel and resort rooms.
, in Pittsburgh and then developing Monroeville Mall, Donald Soffer http://www.turnberry.com/detail.php?pageName=executive_bios&bio_id=100 arrived in South Florida
and saw the potential for development. In 1967, along with partner Eddie Lewis
of Oxford Development Co.
, he purchased 785 acres (3.2 km²) of submerged and undeveloped swamp and marshland facing the Intracoastal Waterway
in North Dade County.
During the next 40 years, with their initial vision sketched on a cocktail napkin, Soffer and Lewis built that land into what is now the City of Aventura
. They developed Turnberry Isle Resort and Country Club, Aventura Mall
, thousands of residential units and numerous office buildings. Aventura is now a self contained city, known as a ‘City of Excellence,’http://www.cityofaventura.com/ revolving around golf courses, lakes, bike and exercise paths and exclusive condominiums, hotels, shopping centers, office buildings, banks and more.
Real estate development
Real estate development, or Property Development, is a multifaceted business, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw land and the sale of improved land or parcels to others...
in residential, retail, hospitality and office. The company has developed more than $7 billion in commercial and residential property, including approximately 20000000 square feet (1,858,060.8 m²) of retail space, more than 7,000 condominium
Condominium
A condominium, or condo, is the form of housing tenure and other real property where a specified part of a piece of real estate is individually owned while use of and access to common facilities in the piece such as hallways, heating system, elevators, exterior areas is executed under legal rights...
and condo-hotel
Condo-hotel
A condo hotel, also known as a hotel-condo or a Condotel, is a building used as both a condominium and a hotel.Condo hotels are typically high-rise buildings developed and operated as luxury hotels, usually in major cities and resorts. These hotels have condominium units which allow someone to own...
residences, 1500000 square feet (139,354.6 m²) of class "A" office space and in excess of 2,000 hotel and resort rooms.
History
After opening his first shopping center, South Hills VillageSouth Hills Village
South Hills Village is a two-level shopping mall located in the Pittsburgh suburbs of Bethel Park and Upper St. Clair. It was developed by the Oxford Development Co. as the first shopping complex to be built as a fully enclosed structure. The two-level complex is currently owned by Simon Property...
, in Pittsburgh and then developing Monroeville Mall, Donald Soffer http://www.turnberry.com/detail.php?pageName=executive_bios&bio_id=100 arrived in South Florida
South Florida metropolitan area
The South Florida metropolitan area, also known as the Miami metropolitan area, and designated the Miami–Fort Lauderdale–Pompano Beach, FL Metropolitan Statistical Area by the U.S...
and saw the potential for development. In 1967, along with partner Eddie Lewis
Edward J. Lewis
Edward J. "Eddie" Lewis was a Pittsburgh businessman, philanthropist, and real estate developer. After graduating from the Wharton School at the University of Pennsylvania, Lewis joined his father, Eugene Lebowitz, in several small real estate ventures, which quickly flourished into the...
of Oxford Development Co.
Oxford Development
Oxford Development Company is a real estate firm based in Pittsburgh, Pennsylvania providing real estate development, asset/property management, brokerage services, investment advisory services, and business operations...
, he purchased 785 acres (3.2 km²) of submerged and undeveloped swamp and marshland facing the Intracoastal Waterway
Intracoastal Waterway
The Intracoastal Waterway is a 3,000-mile waterway along the Atlantic and Gulf coasts of the United States. Some lengths consist of natural inlets, salt-water rivers, bays, and sounds; others are artificial canals...
in North Dade County.
During the next 40 years, with their initial vision sketched on a cocktail napkin, Soffer and Lewis built that land into what is now the City of Aventura
Aventura, Florida
Aventura is a planned, suburban city located in northeastern Miami-Dade County, Florida. The city name is from the Spanish word for "adventure", and was named "Aventura" after one of the developers of the original group of condominiums in the area remarked to the others, "What an adventure this is...
. They developed Turnberry Isle Resort and Country Club, Aventura Mall
Aventura Mall
The Aventura Mall is an upscale super-regional shopping mall in Aventura, Florida, a northern suburb of Miami. It is the largest conventional shopping mall in Florida, having a gross leasable area of , and is the fifth largest shopping center in the United States. The mall has three floors of...
, thousands of residential units and numerous office buildings. Aventura is now a self contained city, known as a ‘City of Excellence,’http://www.cityofaventura.com/ revolving around golf courses, lakes, bike and exercise paths and exclusive condominiums, hotels, shopping centers, office buildings, banks and more.