SHVO Secures Historic Preservation Board Approval for Redevelopment of 407 Lincoln Road

MIAMI BEACH, Fla., Dec. 14, 2022 /PRNewswire/ -- SHVO, the culture-defining real estate development and investment firm, is pleased to announce it has secured the Historic Preservation Board's unanimous approval for the revitalization of 407 Lincoln Road into a Class A ultra-luxury office property with an emphasis on high performance and sustainability.

Yesterday afternoon, the Historic Preservation Board reviewed plans for the redevelopment, led by Foster + Partners in collaboration with Kobi Karp Architects, with prominent members of the local community including Howard Herring, President and Chief Executive Officer of New World Symphony; Lyle Stern, President of Koniver Stern Group; as well as the Miami Design Preservation League and Lincoln Road Business Improvement District, all expressing resounding support for the project.

The plans presented by SHVO will see a revival of the thirteen-story property that will include a renovation of its famous clock tower, recladding of the building envelope, inclusion of signature double-height loggias, and the addition of a rooftop with ocean views and wellness-focused amenities. Additionally, the through-connection between Lincoln Road and Soundscape Park will be reinforced, creating a natural pathway between the two popular destinations.

This represents the third Class-A office development announced by SHVO in Miami Beach this year, and is the firm's second property on Soundscape Park, following its announcement of One Soundscape Park, in partnership with celebrated architect Peter Marino. Furthermore, it is the firm's second collaboration in Miami Beach with Foster + Partners, following the announcement of The Alton. Combined with the restoration and development of The Raleigh, SHVO is investing close to $1 billion in Miami Beach, reflecting the firm's growing commitment to the city.

Michael Shvo, Chairman & CEO of SHVO, stated: "We are grateful to have received the Historic Preservation Board's approval for our plans to revitalize 407 Lincoln Road, Miami Beach's most prominent office building, and are committed to reposing the confidence placed in us today by the Board as well as the local community by transforming it into a world-class office property that showcases the best of global design and architecture."

Norman Foster, Founder and Executive Chairman, Foster + Partners, added: "The revitalized 407 Lincoln is set to make a positive contribution to the urbanity of Miami Beach, creating a building that is of its place. Showcasing the sustainable focus of the project, our design approach significantly lowers the embodied carbon of the project by retaining the existing structure of the building, while giving the building a new lease of life."

David Summerfield, Senior Executive Partner and Head of Studio, Foster + Partners, said: "The reimagining of 407 Lincoln is underpinned by sustainability, stripping the building back to its essential structure to create a seamless visual connection with the green outdoors. It revitalizes a local landmark on Miami Beach, offering unparalleled flexible workspaces that cater to the changing needs of today's workforce."

SHVO is a real-estate development and investment firm built on the vision of founder and CEO, Michael Shvo, to create culture-defining experiences in iconic properties.

Headquartered in New York City with offices in Miami, San Francisco, Los Angeles, and Chicago, SHVO owns and operates a national portfolio valued at more than $8 billion with more than 4.5 million square feet across industry sectors, including commercial office and retail, hospitality, and luxury residential assets. The firm's selective portfolio of architecturally significant properties, from innovative ground up new developments to revitalized landmarks that define skylines in the world's leading cities, includes the Transamerica Pyramid in San Francisco, The Raleigh Hotel in Miami Beach, 333 South Wabash Avenue also known as, "The Big Red," in Chicago, Mandarin Oriental Residences at 9200 Wilshire Boulevard in Beverly Hills, Mandarin Oriental Residences Fifth Avenue in New York City and the AMAN New York, hotel and residences at the Crown building.

With a proven track record of acquiring, developing, and managing super-prime assets, SHVO stands for iconic properties in cherished locations, distinctive design aesthetics, and unmatched quality. By emphasizing the unique experience and individual nature of each property, SHVO's record of increasing demand while achieving exceptional premiums has secured investments from the world's most selective institutional investors.

Renowned and trusted for its expertise, SHVO is fully integrated with highly diversified industry experience in every aspect of acquisitions, finance, development, design, sales, leasing, property management, hospitality, and sustainability.

www.shvo.com.

Foster + Partners is a global studio for architecture, urbanism and design, rooted in sustainability, which was founded over fifty years ago in 1967 by Norman Foster with his late wife, Wendy. Since then, he and the team around him have established an international practice with a worldwide reputation for thoughtful and pioneering design, working as a single studio that is both ethnically and culturally diverse. The studio integrates the skills of architecture with engineering, both structural and environmental, urbanism, interior and industrial design, model and film making, aeronautics and many more – our collegiate working environment is similar to a compact university. These diverse skills make us capable of tackling a wide range of projects, particularly those of considerable complexity and scale. Design is at the core of everything that we do. We design buildings, spaces and cities; we listen, we question, and we innovate.

The studio has established an international reputation with buildings such as the Hearst Headquarters in New York, 30 St Mary Axe, popularly known as The Gherkin, in London, Millau Viaduct in France, the German Parliament in the Reichstag, Berlin, The Great Court for the British Museum, Headquarters for HSBC in Hong Kong and London, the ME Hotel in London, Commerzbank Headquarters in Frankfurt, the Metro Bilbao, the Carré d'Art Nîmes, the sustainable Masdar development in Abu Dhabi, and research centres for Stanford University, California. Recent work includes the Norton Museum of Art in West Palm Beach, Samson Pavilion for CWRU and Cleveland Clinic in Ohio, Duo Central Park in Sydney, Apple's headquarters in California, Bloomberg's new European headquarters in London and the Comcast Technology Center in Philadelphia. Currently, the practice is involved in projects such as the New Slussen Masterplan in Sweden, Kuwait International Airport, and 425 Park Avenue in New York.

www.fosterandpartners.com

SOURCE SHVO