Steven Michael: Visionary Leader Transforming Communities Through Real Estate
Steven Michael is the Founder and CEO of Banyan Group, where he leads the execution of diverse real estate projects across multiple sectors. With over 40 years of experience in residential, retail, office, hotel, and industrial development, Steven has successfully managed and developed over FIVE million square feet of property, including notable ventures in dining and hospitality. His deep expertise in construction, property management, and operations drives the success of every project he undertakes. He has a keen eye for identifying underutilized opportunities in underserved communities, transforming them into thriving retail, office, and residential spaces.
Early Career & Foundation
Steven Michael’s trajectory has been shaped by his financial acumen and entrepreneurial grit. After beginning his career trading on the floors of the Chicago Board of Trade (CBOT) and CME in the mid-1980s, he specialized in interest-rate yield-curve trading, developing early tools for computerized risk modeling, financial options, and arbitrage. By age 26, he had bought a seat on the Chicago Board of Trade and become the youngest member of its board.
His early involvement in real estate was with family buying and developing properties with his brothers and this dual exposure to finance and real estate laid the groundwork for the Banyan Group’s later successes.
Vision and Major Projects
Steven’s passion has been especially strong in Delray Beach. He made his home there in the early 2000s and immediately began investing in the community: first buying a 60-unit townhouse community, then creating larger residential, retail, and mixed-use real estate.
Some of his most influential projects:
Andre Design District: Once an industrial warehouse area (automotive garage spaces), now a flourishing mixed-use enclave for retail, offices, arts, and restaurants. It gives local, minority-owned, women-led, and veteran-run small businesses a chance in spaces that are more accessible and affordable. It also injects cultural energy via murals, art, and a family-centric environment.
West Atlantic Avenue / Atlantic Ave corridor (West of Swinton Avenue): He has been a pioneer in transforming this area. His vision of expanding Delray’s downtown westward—bringing more retail, more office space, more pedestrian-friendly shopping districts has driven several projects. These include rehabilitating historic properties (such as Doc’s restaurant), building multi-story retail/office buildings, and creating distinct mixed-use destinations.
Affordable / Workforce Housing Initiatives: Recognizing needs in his communities, Steven has converted existing hotels into studio apartments for workforce housing. One project involved transforming a 408-room hotel into luxury-furnished studio suites for first responders, nurses, etc., demonstrating both innovation and compassion. He is also actively planning more units, working with local legislation to enable reuse of underutilized properties in meaningful ways.
Philosophy & Community Impact
What distinguishes Steven Michael is not just the size or scale of his projects, but how he envisions them inclusive, community-oriented, respectful of local history, and designed to lift underserved neighborhoods. Steven Michael believes in giving back: remodeling homes in neighborhoods west of Swinton at his own cost, preserving architectural heritage, enabling small local entrepreneurs to thrive, and pushing for economic diversity in his tenant mix.
His approach to risk is rooted in his finance background: disciplined, strategic, and willing to innovate. Whether it was learning “when to take a loss” in trading, overseeing large-scale conversions, or managing complicated zoning and historic preservation issues, Steven applies both heart and rigor.
Notable Qualities & Legacy
Visionary leadership: Steven Michael doesn’t simply build properties; he imagines how neighborhoods can evolve what underserved areas can become—how unused buildings can be reimagined.
Social consciousness: Emphasizes affordable housing, preservation of cultural and historical identity, and creating opportunities for minority- and veteran-owned business.
Adaptability: From finance to real estate; from residential units to arts districts; from hotels to mixed-use buildings Steven has shown a capacity to pivot and find value in what others might see as neglected or difficult.
Tangible impact: His projects are not just plans on paper they are built, occupied, enlivened with real businesses, art, and people. He also makes efforts to preserve landmarks of local importance.
Steven Michael career is a blend of financial expertise, creative urban development, and a deep commitment to community. Through Banyan Group and his many ventures, he has left and continues to leave a positive imprint on Delray Beach and beyond: reinvigorating spaces, fostering inclusive growth, and turning potential into reality.