Integra Investments and Nomade People Respond to Miami Beach Article

On October 28, 2024, in Miami, Integra Investments and Nomade People released a statement addressing material inaccuracies about their redevelopment project for the Standard Miami Beach, as reported by The Real Deal. The companies, which have been negotiating with the Belle Isle Residents Association (BIRA) for over a year, sought to clarify the terms of their financial agreement that restricts funds strictly to improvements for the Belle Isle community. This involved creating a nonprofit overseen by local residents to ensure proper fund allocation. The companies highlighted that the agreement was not undisclosed, as suggested by the article. They noted that residents were invited to an August 27 virtual meeting discussing the project, which was attended by around 120 residents. Moreover, the financial details were presented during a public hearing on October 1, underscoring their commitment to transparency. The statement also addressed misrepresentation regarding Barry Sternlicht, an investor in the hotel, clarifying that he had no involvement in the negotiation process. This misinformation potentially jeopardizes his reputation as a respected business owner in Florida. The companies expressed their dismay at this portrayal and indicated that Sternlicht is considering legal action. Overall, Integra Investments and Nomade People reaffirmed their dedication to benefitting the Belle Isle community through the redevelopment project and maintaining a collaborative relationship with local authorities throughout the approval process.