After negotiations over a roughly $400 million buyback collapsed, Miami-Dade County Mayor Daniella Levine Cava said the county will seek to take over a 10-acre property on ultra-exclusive Fisher Island.
The disputed site contains a fuel depot used by the Port of Miami, but developers have proposed replacing it with luxury condo towers.
What happened?
Last year, the parcel sold for about $180 million to a development group that includes Jorge Pérez, the Miami real estate mogul often called the “condo king.”
The developers’ plan would remove the maritime fuel facility and replace it with two 13-story luxury condo towers, with top units expected to sell for $100 million, the Insurance Journal reported…