The Real Deal Miami

Biscayne Landing bust drags on

October 15, 2009 10:56AM

A new mini-city that was to shape North Miami’s rise during the building boom never amounted to more than a pair of unfinished towers in a mangrove swamp. The area at Biscayne Landing is now the largest undeveloped stretch of bayfront land east of U.S. 1, and a handful of condo owners are caught in the middle of this symbol of the burst housing bubble. The developers have defaulted, the banks have foreclosed, and some industry analysts say the best-case scenario is five to 10 years for any new development at the site. [Miami Herald]