Developer Jeff Berkowitz is giving up on a request for
county funding for the SkyRise project,according to the Herald.
In
a letter, Berkowitz said that he was unable to meet county requirements for to
obtain $9 million in funding. Instead, he will move forward on the $430 million
project without it.
A lawsuit filed by Raquel Regalado and Norman Braman had
threatened to help up both SkyRise and Bayside’s expansion project, the Herald
wrote. The owner of Bayside increased their mortgage from $79 million to
$250 million in December 2014 to help fund the expansion,according to The Real
Deal.
The
Bayside Marketplace Renovation and Addition project includes the renovation of
the existing outdoor common areas and waterfront plaza; the renovation of the
existing open-air, two-level parking garage; the addition of two new levels of
parking; and a new retail addition to provide new tenant shell spaces along
Biscayne Boulevard.
Original content The next Miami
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