The Real Deal Miami

New twists emerge in Seaway Villas condo fight

Historic designation may not save condo
October 20, 2014 12:45PM

Seaway Villas

Seaway Villas

One of the last holdouts in a fight that has pitted condo owners in Seaway Villas in Surfside against a controversial developer says he may be forced out of his home.

Stephen Norris, who has lived in the oceanfront development for 20 years, doesn’t want the buyout offer that many of his fellow residents have accepted from developer Fort Capital Management. But he says the law may be forcing his hand – and that of two other holdouts, including a Bal Harbour council member.

According to a report in the Miami Herald, the payments from Fort Capital range from the high six figures to more than $1 million, a huge increase over the market value of the units.

To defend themselves, the holdouts requested that the Miami-Dade preservation board consider designating Seaway as historic, which could trigger a moratorium blocking demolition. But that move may be undercut by a vote by the condo board to allow termination of the condo development. [Miami Herald] — Jennifer Karp