River Landing project in Miami faces foreclosure suit

Miami /
Sep.September 13, 2015 12:00 PM

A lender has filed a foreclosure suit against the developer of River Landing. a residential and retail project in Miami along the Miami River.

An architectural firm and an engineering firm also have filed liens against the developer, River Landing Development, headed by Andrew Hellinger.

The developer defaulted on a $38.19 million mortgage loan from Eastwatch Holdings, the lender charged in a suit filed recently in Miami-Dade Circuit Court.

Eastwatch is owned by Northstar Realty Finance, a New York-based public company.

According to county records, River Landing Development last year paid $25 million for the eight-acre site of its planned project on the north bank of the Miami River between the Dolphin Expressway and 17 Avenue.

Langan Engineering & Environmental Services of Miami Lakes last week filed a lien against for $37,000 of engineering services that River Landing allegedly failed to pay for.

In late August, ADD, an architecture firm in Miami, filed a lien against River Landing for payment of approximately $1.1 million on a $3 million contract.

The planned development would include two rental apartment buildings with 475 units altogether and a shopping center measuring five stories and 426,000 square feet.

The county has been a catalyst for River Landing by providing land adjacent to the mixed-use development for a public park and by providing preliminary approval of a $7.5 million grant to help fund the development. [Miami Herald] — Mike Seemuth


Related Articles

arrow_forward_ios
Gregory Galy of Mila restaurant with the Riverfront property. (Google Maps, LinkedIn via Galy)
Mila Group, partners plan hotel and restaurants on Miami River site
Mila Group, partners plan hotel and restaurants on Miami River site
Variety Hotel (iStock)
Miami Beach hotel heads to foreclosure auction
Miami Beach hotel heads to foreclosure auction
Developer Louis Birdman (One Thousand Museum, Getty)
One Thousand Museum developers score $90M refi to stave off foreclosure
One Thousand Museum developers score $90M refi to stave off foreclosure
Joseph Chetrit and a rendering of the Miami River project (Getty)
Chetrit scores $15M for Miami River $1B mixed-use project
Chetrit scores $15M for Miami River $1B mixed-use project
A rendering of the the property at 3601 North Miami Avenue and HES Group CEO Francisco Arocha (Photos via HES, Francisco Arocha)
Midtown Miami Triptych dev site owner files for Chapter 11 amid foreclosure
Midtown Miami Triptych dev site owner files for Chapter 11 amid foreclosure
Simon and David Reuben with One Thousand Museum (Getty, iStock)
Reuben Brothers seeks to foreclose on Zaha Hadid-designed One Thousand Museum
Reuben Brothers seeks to foreclose on Zaha Hadid-designed One Thousand Museum
Clockwise: 310-318 Northwest 25th Street, Chaim Cahane, Jonathon Yormak and Jon Krasner 
Wynwood developer sells retail property in foreclosure for $12M
Wynwood developer sells retail property in foreclosure for $12M
Miami-Dade Mayor Daniella Levine Cava (Getty, iStock)
Miami-Dade resumes pre-pandemic evictions after unannounced February break
Miami-Dade resumes pre-pandemic evictions after unannounced February break
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...