Redevco is a woman owned full service real estate company who's mission is to promote innovative services through out South Florida that generate market rate returns while building stronger neighborhoods and communities.
Redevco specializes in retail, office, mixed use, and residential projects and we provide our clients with asset management, consulting, landlord representation, accounting services, brokerage and development services, as well as governmental grant services to various property owners including local non-profit organizations.
Since 1976 we have specialized in turning unconventional assets into conventional returns for our clients and we strive to constantly set a new standard of excellence in the real estate industry. Meet the Redevco Team.
Founded in 1976, Redevco has been at the forefront of several ground breaking projects in South Florida real estate circles, see what we mean here:
The first developer in South Florida to create "power strip centers", so-named because each is anchored by multiple, nationally known retail stores.
Revitalization of older, low-income producing strip center locations. At The Shoppes of Wilton Manors, for example, Redevco worked in close partnership with city commissioners to redevelop the city's largest shopping center in hopes of spawning a renaissance in the downtown area. Since the revitalization, tenant occupancy increased from 23% to 100% within a year and property values in the city have increased 6% (the highest increase for any city in Broward County in 1998).
Providing innovative, professional management and consulting roles in urban and inner city developments.
The Shoppes of Liberty City, This was the result of a joint equity investment by South Florida commercial developer Redevco Enterprises, Inc. and Fannie Mae (FNM/NYSE), the nation's largest source of funding for home mortgages. The 79,686 square foot shopping center, which created more than 325 jobs and viable neighborhood businesses, was built on the site of a blighted former flea market, which had become a deteriorating eyesore. The Shoppes of Liberty City is the first major, new development in the area since the civil unrest 20 years ago, and was 100% leased prior to the opening in 2000. It maintains a waiting list of retailers wanting to be part of this successful center.
The story of Miami-Dade's first successful public-private partnership is akin to the tale of the Phoenix rising from the ashes. Originally built by Redevco in 1980, the 68,000-square-foot Promenade Plaza was literally destroyed by Hurricane Andrew in 1992. Fearful that Redevco would not rebuild, the community and county approached Redevco to acquire the property. While Redevco's intentions were to rebuild, company officials realized that the advantage of having the community involved would give the center a dedicated shopper. Redevco, as a result, elected to sell 51% of the project to address the community's goal of ownership, thereby creating Miami-Dade County's first Public-Private Partnership. Working in concert with Miami-Dade Commissioner Dennis Moss, Redevco partnered with the Richmond Heights Community Development Corporation (RHCDC) to achieve a socioeconomic revitalization within the community and to train RHCDC in all aspects of shopping center management and ownership. Within four years, the RHCDC had acquired sufficient financing from the profits generated by the center to buy out Redevco's partnership interest and take full title to the property. The non-profits initial investment of $1.2 million results in 12.9% Return on investment with a 2010 property value exceeding $5,000,000. Profits are now being utilized to support other community initiatives.
The proposed site for Redevco's newest public-private partnership Gables Pointe Plaza is located on a 1.7-acre vacant lot at U.S. 1 and Grand Avenue in Coral Gables, Florida This mixed use development is an economic development project in a neighborhood originally settled by Bahamian immigrants. Redevco has partnered with the LBW Homeowners' Foundation of Coral Gables, Inc. a local non profit organization to jointly develop the project. The goal of this public/private partnership is to create jobs and a source of future cash flow for the non-profit which will allow the LBW Homeowners' Foundation to operate a Community Center.