Profile: Steven Michael plans $275 million in projects in county
Where he lives: Delray Beach
Occupation: Real estate developer; co-founder, Hudson Holdings
Why he makes news: Michael, who specializes in rehabilitating landmark buildings, is restoring the historic Gulfstream Hotel for $60 million. The 91-year-old hotel has been vacant for more than 10 years. Michael’s company has its fingers in more than $1.2 billion — yes, that’s with a “b” — in projects nationwide, about $275 million of which are in Palm Beach County. Hudson Holdings also plans to upgrade the Sundy House and other properties in Delray Beach. Outside the county, the company is renovating the 403-room Orlando Hotel and is revitalizing the Huntington Bank Building in Cleveland, home to one of the largest bank lobbies in the world.
What he considers the biggest challenge to growth in Palm Beach County: “Politics. You have so many cities all up and down the coast and with that comes a lot of small-town government that drives a lot of the economic decisions that affect the county greatly. It would be nice if there was more unity with these local governments, and if they had similar goals instead of competing goals. That would make things more efficient.”
Why he loves where he lives: “I’m from Chicago, but I always had a presence in Miami. Fifteen years ago I discovered Delray Beach as a great, incredible little town. The people are what make the town great. I fell in love with its charm and vibrancy. It’s a great place to bring my kids up, and I’ll never leave.”
His favorite local haunts: “Arts Garage for entertainment. It has amazing music and theater talent. It’s a great example of local arts that’s a big part of the fabric of Delray Beach. I go to Racks five times a week. I’m a creature of habit and order the same thing every time I go — a salad with a piece of salmon and brussel sprouts. They know my order. I also go to Salt7 and Tramonti.”
