The Golden Touch Since Portofino Towers, Perez has built city centers in several undeveloped areas such as Lantana Bay, which was known for its old marinas, trailer parks, and lower-income retiree communities.
When those close to Perez talk about his ability to turn an undeveloped plot of land into an urban center – something he has done 10 times – they often use the word uncanny, marveling at how he can do this time and time again. But when Perez talks about this, he uses the word vision – the ability to see a plot of land and the potential for a thriving urban center when no one else does. “You have to go to an area and visualize it,” he says. “You have to bring in the consultants and designers who are going to portray that vision.”
He also brings a template into these projects. If there is no retail or restaurant space within walking distance of the proposed building, Perez will include it. “When you create an environment that allows people to live, play, and work at an easy commute, they will come,” he says.
Case in point: The Moorings in Lantana Bay includes 30,000 square feet of retail, 378 condos, and a full marina.
The project encompassed three residential buildings, each four to eight stories with retail on the bottom floor, as well as two restaurants that are housed in two separate buildings on the water. In other instances, he has built multiple high-rises that contain retail, restaurant, residential, and office elements. In a South Beach project, he even included a hotel.
Florida Focus Perez’s focus on southern Florida helps him pinpoint opportunities that others might not see. He has built in California, Texas, Georgia, and considered building in Washington, but he thinks that he can have the most impact by developing in one area. And it’s safe to say he has made an impact. His feel for the South Florida market, the quality of his buildings, and his reputation made him a celebrity in the area. Name a local business or lifestyle magazine, and Perez has probably graced its cover or been a feature subject.
Perez’s name and track record certainly does not hurt when it comes to making deals and finding land. His network of brokers, bankers, and real estate attorneys keeps him attuned to available land, market conditions, and capital coming into South Florida. “Because we have been in South Florida for 25 years, we get to see most, if not all, of the deals that go through,” Perez says. “The brokers and owners call us.”
Other times landowners come to Perez to do joint ventures. While Perez’s name recognition draws them in, the company’s focus on Florida convinces them to partner up, says Roberto Roche, head of development for The Related Group. “We deliver what we say we will and have strong financials,” he says. “And we are based here, unlike a developer coming in from Texas or somewhere else that will leave as soon as the economy turns bad. We have a reputation here to maintain.”
Perez’s local prominence not only attracts landowners in search of joint ventures but also helps draw residents, specifically South Americans, who want to put their money in Florida real estate, and Europeans, who want second or third homes in the United States. “People from outside the area want to see an established track record,” says Al Hernandez, CFO for The Related Group. “If people can read the different stories of what Jorge builds, I think it adds to the credibility of the company.”
