Richard Schatz, Managing Director, Stearns Weaver Miller
In an interview with Invest:, Richard Schatz, managing director at law firm Stearns Weaver Miller, discussed the firm’s statewide expansion, the evolving South Florida legal market, challenges in hospitality and real estate, the role of technology and AI in law, and the firm’s deep commitment to community impact.
What have been the most significant milestones for the firm over the past year?
We continue to build a statewide firm, practicing and competing not only across Florida but also throughout the United States and internationally. We believe Miami and Florida are at the epicenter of global growth, and if we can maintain our culture and high-quality work, we will remain a prominent player for decades to come.
What trends have you observed in the South Florida legal market, and how are they shaping your firm’s approach?
The cost of real estate in Miami has become very high because of strong investor demand. As a result, other parts of Florida have become increasingly attractive for investment. For years, we have been expanding our offices and strengthening our statewide real estate, land use, and environmental practices. We’re seeing significant growth on the West Coast, in the Panhandle, and throughout Central Florida.
We are also meeting new players entering the state and Miami’s real estate market, working closely with them to support their developments and be an integral part of that growth.
What unique challenges and opportunities are you encountering in hospitality and restaurant projects in today’s economic environment?
A major challenge is navigating local government regulations in Miami-Dade County.
New restaurants, businesses, and hotels must work with both city and county governments, which don’t always coordinate well. Understanding and managing this dynamic is a key part of ensuring successful projects.
How does the firm’s multidisciplinary approach help address complex client issues, particularly in real estate and corporate law?
We work seamlessly across departments. Our firm is structured to encourage collaboration, which allows us to integrate extensive experience from real estate, corporate, land use, and litigation teams.
When we take on a new matter, we immediately consider how different practice areas can work together. For example, if zoning approvals require litigation, our teams coordinate to handle both aspects efficiently. We don’t operate in silos; we work as a team and enjoy doing so.
How has the firm embraced technology and innovation to enhance its practice?
Technology and innovation have always been central to our approach. Over 25 years ago, we brought courtroom visuals in-house, whereas most firms still rely on third parties. Our in-house team creates visuals not only for litigation but also for real estate and local government matters.
We are one of the few firms with an in-house GIS department, which plays a critical role in real estate, land use, and litigation cases. Additionally, our Miami office features a fully equipped courtroom with state-of-the-art technology, comparable to modern federal and state courtrooms.
We are also actively exploring AI. While we approach it cautiously, we recognize it as part of the future of law. Our firm has long prioritized technological advancements, and we continue to do so because we understand their importance to our practice.
How does the firm give back to the community it serves?
We believe our firm improves as our community improves. Giving back has been ingrained in our culture from day one, nearly 50 years ago. We regularly take on pro bono work, not because we have to, but because we want to. We’ve helped local jurisdictions, organizations, and individuals, and we remain committed to that mission.
Miami has historically lagged in philanthropy, but with the city’s rise in popularity and the wealth flowing into South Florida, we see opportunities to improve. We work hard to make people feel at home here. When I chaired the Miami Foundation, convincing newcomers to invest in the community was a bigger challenge than it is today, but it remains important. If Miami is your home, there’s value in giving back here, just as you might in other places.
How do you see the legal profession evolving?
Understanding our firm, our clients, and their needs is key. We aren’t focused on expanding our office footprint outside Florida, but when we handle matters beyond the state, we collaborate with partner firms and attorneys to ensure our clients receive the highest level of service.
How do you view Florida’s growth and the challenges and opportunities it presents?
Florida has always been attractive due to its climate, and people have long moved here for retirement and hospitality opportunities. But with that comes challenges, particularly weather-related risks. Hurricane season brings dangers, insurance complexities, and other logistical hurdles. However, Florida will continue to draw new residents, and less densely populated areas will see more growth.
Transportation is also becoming a major factor. Brightline has been a tremendous asset for South Florida, and as it expands service from Miami to Tampa, we expect even more movement within the state.
What are your top priorities and goals for the firm in the next few years?
Our priority is to maintain the highest quality of work without sacrificing the culture and atmosphere that define our firm. As Miami and Florida continue to gain prominence, we aim to remain a key player in our communities and the industries we serve.
