arts
Inside developer Michael Stern and his Italian investor’s breakup
By Katherine Kallergis at The Real Deal
· July 8, 2026
· 1 min read
A partnership between developer Michael Stern and Italian investor and entrepreneur Gianluca Vacchi is imploding, newly filed court records show. Stern, founder and CEO of JDS Development Group, teamed up with Vacchi in 2024. They formed a joint venture to invest in a $4 billion pipeline of new deve
Key takeaway Stern, founder and CEO of JDS Development Group, teamed up with Vacchi in 2024.
Why this matters in The Miami
The dissolution of the partnership between Michael Stern and Gianluca Vacchi has significant implications for Miami 's development landscape. With several high-profile projects affected, including the Mercedes-Benz Places Miami and the Dolce & Gabbana-branded 888 Brickell, the city's Brickell neighborhood may see a shift in its growth trajectory. The fact that these projects are facing separate lawsuits, including a foreclosure, raises concerns about the potential for stalled or abandoned developments, which could impact local businesses and residents. Furthermore, the loss of investment in these projects may also affect the local economy, particularly in the construction and hospitality sectors. As the city continues to grapple with issues like sea-level rise and flooding, the fate of these developments will be closely watched, especially in vulnerable areas like Miami Beach, where the Casablanca condo-hotel was planned. The outcome of these lawsuits will be crucial in determining the future of these projects and their impact on the city.
About this story
Original reporting by The Real Deal . The Miami surfaces reporting from trusted publishers and adds local editorial context so readers can quickly understand what a story means for their community. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
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Category: arts ·
Published: July 8, 2026 ·
Source: The Real Deal ·
Reading time: 1 min
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Frequently asked about this story
What is this story about? A partnership between developer Michael Stern and Italian investor and entrepreneur Gianluca Vacchi is imploding, newly filed court records show. Stern, founder and CEO of JDS Development Group, teamed up with Vacchi in 2024. They formed a joint venture to invest in a $4 billion pipeline of new deve
When was this published? This article was first published on July 8, 2026 by The Real Deal and curated for The Miami readers.
Who reported this story? This story was reported by Katherine Kallergis at The Real Deal. To learn more about how The Miami selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more arts coverage from The Miami, or browse our daily briefing and topic hubs .
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