Sunny Isles commission approves Jade Signature modification

Fortune International requested reduction of 31 units from previously approved site plan

TRD MIAMI /
May.May 19, 2014 12:00 PM

Sunny Isles Beach commissioners approved the developer of Jade Signature’s request to modify a previously approved site plan for the condo project.

The commission voted 3-1 to allow developer Sunny Isles Beach Associates to reduce the project’s units from 223 to 192 and cut parking spaces from 429 to 422. Vice Mayor Isaac Aelion was the only member to vote against the modification during Thursday’s hearing. Sunny Isles Beach Associates is an affiliate of Fortune International.

Fortune always intended to build 192 condos and marketed the project as such, attorney Cliff Schulman told The Real Deal in a written statement.


Schulman represents the developer.

City zoning allowed Fortune to develop up to 258 units at the Jade Signature site, according to Schulman.

“My client knew very well that they would not actually build that maximum density because they realized the Sunny Isles beachfront purchasers desire larger, more luxurious units,” he said. “They submitted the initial site plan application for 223 units to allow for further design flexibility for the architects and interior designers.”

Schulman cited “recent changes in the marketplace” in last month’s site plan modification request, as previously reported by TRD.

“The changing market conditions referenced in my cover letter to the city was clarification that because of the strong Sunny Isles market, my client was and is committed to develop the larger 192 units and is leaving the additional density on the table, as they envisioned from the beginning,” Schulman said. — Eric Kalis


Related Articles

arrow_forward_ios
Muse Residences and PMG Managing Partner Ryan Shear (Credit: PMG)

PMG, S2 score victory in legal battle at Muse Residences

Bryan C. Hanson of Zimmer Biomet and the Residences by Armani/Casa

Medical device CEO snags condo at Residences by Armani/Casa

From left: Manuel Grosskopf, Edgardo Defortuna and Ritz-Carlton Residences, Sunny Isles Beach

Ritz-Carlton Residences, Sunny Isles Beach gets TCO, starts closings

Jules Trump and the Estates at Acqualina tower

Jules Trump launches sales of second Estates at Acqualina tower

Georgina Pineda and King David Condominium at 17555 Atlantic Boulevard (Credit: Realtor)

Property manager stole HOA money, then gambled it away: police

Bella Apartments at 225 179th Drive (Credit: Google Maps)

Investor buys Sunny Isles apartments

Joseph Milton and Parque Towers

Judge says Parque Towers developer mismarketed condo size

Gil Dezer and Days Hotel by Wyndham Thunderbird Beach Resort

Dezer wins height approval for Sunny Isles’ tallest condo tower

arrow_forward_ios
Loading...