Stephen Bittel’s Approach to Real Estate Development
Commercial real estate development in Southern Florida has been led by Terranova Corporation and its CEO, Stephen Bittel. While still in the University of Miami Law School, Stephen founded Terranova Corporation. He invested in two shopping centers at first, which were located on Sunset Drive. He later expanded to include the Biscayne Plaza Shopping Center, an industrial park, and a five-building office park. Being responsible for the management and leasing of these properties allowed the young company to gain vast experience that would become its backbone.
Terranova’s growing success created various employment opportunities for the growing community. Palm Beach, Broward, and Miami-Dade were mainly residential and undeveloped about 40 years ago. Professional opportunities locally available were scarce, and many locals relied on neighboring communities for employment. Local employment opportunities increased for residents as commercial activity and development started to grow within the area.
The inclusion of ongoing trends allowed businesses to capitalize on changing trends. This included internet access and hotspots at seating areas outside and various changes in the infrastructure to accommodate the changing user needs. The use of apps was also utilized to implement online shopping techniques.
Coral Gables’ Miracle Mile is a prime example of how consumer behavior and technology shape real estate. It recently finished a vast streetscape project increasing consumer traffic, tourism, residential and commercial growth. The project does not only provide construction jobs for the locals, but various sectors such as food and beverage, retail, management, and hospitality create more employment opportunities for locals. This boosts the hyper-local economy.
Chairman and founder of Terranova Corporation (1980), Stephen Bittel, leads the company’s operations and ownership. A Miami native, Stephen has continued working with South Florida, serving the area for many years on various boards such as the Miami-Dade Expressway Authority and Chapman Partnership. Bittel graduated with a degree in law from the University of Miami, School of Law in 1982 to know more click here