South Florida developer Alberto Vadia dies at 76
Vadia was active in development of Wellington, Midtown Miami
Alberto Francisco Vadia, who was involved in the development of the village of Wellington, Midtown Miami and more recently South Miami, died at the age of 76.
The under-the-radar developer worked closely with his younger son Alex Vadia of Midtown Opportunities, including on the planned Shops at Sunset Place redevelopment. The elder Cuban-born developer apprenticed under the late Robert Traurig, co-founder of the law firm Greenberg Traurig, according to an obituary provided by the Vadia family.
Vadia, who died on Wednesday, was a master developer of Wellington, an equestrian village in western Palm Beach County. The Vadia family acquired 1,600 acres of land in Wellington for $50 million in the mid-1980s, according to an archived article from the Sun Sentinel. Before that, they built the residential communities Palm Beach Point in Wellington and Park Walk in Boynton Beach.
Vadia is survived by his wife, Maria Elena, and their sons, Roberto, Alberto Ricardo and Alejandro Ricardo, who goes by Alex. Alex Vadia is leading the redevelopment of the Shops at Sunset Place, a shopping center that his Midtown Opportunities acquired nearly four years ago for $65.5 million.
The company bought the South Miami property at a deep discount from its previous sale price in 2015 and recently secured a rezoning that will allow the firm to build taller structures along U.S. 1 and increase density for residential units. At a city commission meeting last week, prior to his death, the late Alberto Vadia’s name came up a few times. Commissioners and city staff commended Vadia’s vision for the property and his involvement with the community.
Midtown Opportunities, under Alex Vadia’s father’s leadership, also acquired large swaths of land in Midtown Miami during the 2008 recession. When the firm sold the land where Hyde Midtown now stands, Alex Vadia held onto ownership of the ground-floor retail space. Related Group and Dezer Development completed the hotel and condo building in 2018 and sold the hotel for $21.8 million that year.
Midtown Opportunities’ current projects include a partnership with developer Carlos Rosso on the under-construction Standard Residences in Midtown Miami.