Developer Terry Stiles Remembered For Transforming Fort Lauderdale
Terry Stiles, the developer who built many of downtown Fort Lauderdale's first high-rises and South Florida's office parks, died Sept. 11 from cancer. He was 70.
His company, Stiles Corp., developed more than 43M SF of commercial and multifamily projects throughout South Florida. Clients included some of the region's best-known companies, like Publix and AutoNation. Over the years, Stiles Corp. built Tri-Rail stations, car dealerships and portions of Broward landmarks, like the Hard Rock Hotel and Casino and Nova Southeastern University.
Terry Stiles and his father, Howard, started their business in 1968, building homes and small warehouses around Broward County. Terry started out making $123 a week, but soon landed substantial jobs, like building a facility for Sherwin-Williams and a warehouse leased to IBM. When Broward County was still relatively rural, he built the first office park in Cypress Creek, luring Fortune 500 companies.
Later, he led the development of Class-A office towers in downtown, having built the New River Center for the Tribune Co. Stiles Corp.'s move into downtown triggered the development of more office towers, and later, residential ones, in the area of Las Olas Boulevard and Broward Boulevard.
Stiles Corp. built Amaray Las Olas with Rockefeller Group in 2016 and sold it this summer for $133.5M, its 254 units going for more than a half-million dollars per unit. At the time of Stiles's death, the company was in the process of building an office building on Las Olas Boulevard and two nearby apartment towers and was developing a residential community adjacent to the Coral Ridge Country Club.
Fort Lauderdale Mayor Jack Seiler said Stiles and H. Wayne Huizenga (founder of Waste Management and Blockbuster Video, and part-owner of the Miami Dolphins) were the two men who most shaped Fort Lauderdale's transition from quiet spring break destination to a modern city.
"He was an incredibly good corporate citizen. He helped build Fort Lauderdale," Seiler said. “I have such immense respect for him and have such respect for his approach to the community and how much he changed downtown."
Stiles also supported area institutions, like the Fort Lauderdale Museum of Discovery and Science, the Broward Center for the Performing Arts, the Art Museum of Fort Lauderdale and the Jack and Jill Children's Center. He also helped expand Port Everglades.
Attorney and lobbyist George Platt said he "had the good fortune to know Terry for about 25 years. I got to know him as a leader — a selfless leader. He gave back unlike anything I have ever seen."
"People really wanted to work with him," Platt said. "He could walk down the street and attract 20 new partners if he wanted, to any venture, because of his charismatic personality. He was extremely well liked."
Platt remembered how Stiles brought diverse stakeholders together to make projects happen, like adding a new runway at Fort Lauderdale airport, deepening Port Everglades to accommodate Supermax ships and swaying votes on proposed legislation.
Stiles had admirers beyond the business community. A local artist, activist and entrepreneur, Robin Merrill, remembered that Stiles commissioned artwork from her husband, a painter, and his warm welcome persuaded the family to stay in the city.
"He could see the value that we brought as working artists," Merrill said. "Rarely does a shrewd businessman 'get it' and want to support and foster altruism and creative endeavors that aren't routine. Terry not only had his favorite charities that he supported in the city, he cared deeply for his employees and those around him. He went out of his way to introduce me to people and give advice when asked. Terry will be sorely missed and there will remain a wealth of gratitude to him for what he has done for Fort Lauderdale and the surrounding community."
Terry Stiles' son, Ken Stiles, will continue to lead Stiles Corp. as CEO. Steve Palmer, the chief operating officer, told the Sun-Sentinel that the company will see $350M in revenue this year and expects to begin 2018 with a backlog of $370M worth of work.
