Terra’s South Beach Tower Goes to Miami Beach Board Vote

Developer David Martin’s plan for a bayfront condo tower in South Beach heads to the Miami Beach Design Review Board for a vote this week.

Martin, CEO of Miami-based Terra, took over the project at 1250 West Avenue last year. The developer plans a 28-story building with up to 106 luxury condos on the nearly 2-acre site, to replace the aging Bay Garden Manor condominium. The board is set to vote on the application at its meeting Thursday.

Hollywood-based ODP Architects is designing the new project.

Michael Stern’s JDS Development Group previously led the project, including the roughly $120 million buyout of Bay Garden and the controversial approval last summer from the Miami Beach City Commission that allows for a taller and slimmer tower on the site, which is next to the JDS-developed Monad Terrace luxury condo. The Bay Garden buyout included the Bikini Hostel property at 1247 West Avenue, which the developer will turn over to the city for a public park.

Terra and its partners will also design, permit and build segments of the baywalk, according to the application.

The tower will span nearly 480,000 square feet using a floor area ratio of 5.75. Units will average nearly 2,500 square feet, and the building will include 250 parking spaces. The building will be nearly 330 feet tall.

Stern was replaced by Martin in a consent to change control granted by the city, which was recorded earlier this year.

The commission last year approved the development agreement and zoning amendments at a special meeting in late June, where Martin also secured an upzoning for the Deauville Beach Resort property at 6701 Collins Avenue. Martin, a 25 percent owner of that property, is now being sued by members of the majority owner Meruelo family.

It’s unclear when the Deauville site redevelopment will move forward.

Deauville Associates sued Martin, Richard Meruelo and other alleged co-conspirators last month, alleging that Martin and Richard, who is the son of family matriarch Belinda Meruelo, manipulated and tricked Belinda into signing away the 25 percent stake in the $500 million property for just $12.5 million. The complaint alleges fraud and breach of fiduciary duty, claiming the defendants exploited Belinda’s vulnerability and memory loss following the death of her other son, Homero.