It was a night of celebrating the new kid on the block as Lionheart Capital commemorated the grand opening of the sales gallery for The Ritz-Carlton Residences, Miami Beach.

Miami—Lionheart Capital has announced plans to develop The Ritz-Carlton Residences in Miami Beach. Located on seven acres on the shores of Surprise Lake in a tranquil area of Miami Beach, the amenity-laden, LEED-certified 126-residence property will blend the legendary service of The Ritz-Carlton with the modernist vision of celebrated Italian architect and designer Piero Lissoni.

Italian architect and designer Piero Lissoni is making his Miami debut with a luxury waterfront development in Miami Beach that will carry the licensed name, The Ritz-Carlton Residences.

Lionheart Capital announces the firm’s plans for The Ritz-Carlton Residences, Miami Beach, its newest ultra-luxury residential development in South Florida.

The site of the shuttered Miami Heart Institute could hardly have a more different future: It’s slated to become The Ritz-Carlton Residences Miami Beach.

Lionheart Capital, a real-estate investment firm, is spending $200 million to turn the former Miami Heart Institute into a 126-unit condominium. The company purchased the site last year for $20 million and plans to ask prices ranging from $2 million to $25 million per unit.

Like its property on North Ocean in Singer Island, Miami Beach-based real estate investor and developer Lionheart Capital plans to remake the now-closed Miami Heart Institute into a Ritz-Carlton Residences.