Riverfront project planned in Stuart may sink

Miami /
Jun.June 19, 2016 12:15 PM

Plans to develop about two acres of city-owned riverfront land in Stuart may fail to advance.

Stuart has owned the land along the St. Lucie River, known as the Northpoint property, since 2002, when the city bought it for $500,000 hoping a developer would build there.

Development company Northpoint Ventures LLC has planned to build a restaurant, a hotel and boat slips there.

But Northpoint Ventures may fail to submit a new lease for the city land or take over an existing lease by Wednesday, a deadline the city set May 23.

Julian Mandody, managing member of Northpoint Ventures, called the deadline unrealistic in a June 6 email to the city attorney.

Another developer that previously leased the Northpoint property, SDG Group, failed to develop a restaurant and boat storage facilities there.

In 2014, the city reassigned the lease to Northpoint Ventures, and the developer proposed building a restaurant, a hotel and boat slips for daytime docking on the Stuart property.

The Stuart News reported that Mandody last week declined to identify the restaurant and hotel brands that Northpoint Ventures was planning for the Northpoint property. [Stuart News] — Mike Seemuth


Related Articles

arrow_forward_ios
Dan Deitchman and Koby Assaraf with a rendering of Industry | Oakland Park
Oakland Park developer partners with former Link Real Estate exec on new firm
Oakland Park developer partners with former Link Real Estate exec on new firm
Renderings of the project (Group P6)
Group P6 lands $69M construction loan for Boca Raton project
Group P6 lands $69M construction loan for Boca Raton project
Alex Sapir and Bella Sapir (Credit: Mark Von Holden/WireImage via Getty Images, and ADRIEL REBOH/Patrick McMullan via Getty Images)
Alex Sapir’s family closes on condos at Sapir’s Arte in Surfside
Alex Sapir’s family closes on condos at Sapir’s Arte in Surfside
Renderings of the project and Gil Dezer (Getty; Renderings via  Zyscovich Architects)
Dezer’s 30-acre megaproject in North Miami Beach gets first approval
Dezer’s 30-acre megaproject in North Miami Beach gets first approval
Jeff Burns, Nick Rojo, The Bohemian Lake Worth
Affiliated Development’s Lake Worth Beach apartment project approved
Affiliated Development’s Lake Worth Beach apartment project approved
A rendering of the Intracoastal Mall and Gil Dezer
Dezer’s plans to remake Intracoastal Mall face opposition
Dezer’s plans to remake Intracoastal Mall face opposition
Alta Developers CEO Raimundo Onetto and Le Parc at Brickell rendering
Le Parc at Brickell condo association sues Alta Developers and partner for alleged construction defects
Le Parc at Brickell condo association sues Alta Developers and partner for alleged construction defects
Biscayne Beach
Lawsuit accuses Biscayne Beach developer and construction firms of shoddy work
Lawsuit accuses Biscayne Beach developer and construction firms of shoddy work
arrow_forward_ios

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

Loading...