The activists challenging condo developments on the Miami River went three-for-three after the 3rd District Court of Appeal in Miami overturned the last of the projects they filed suit to stop.
On Wednesday, the court ruled that the city of Miami erred in changing the zoning at 1583 N.W. 24th Ave., formerly known as the Florida Yacht Basin, to 689 residential units and 30,000 square feet of commercial space. The city's comprehensive plan calls for that area along the river to be reserved for the marine industry.
The ruling sinks Miami Beach-based Merco Group's plans for the Brisas del Rio condominium. A company representative declined comment.
Miami-based TotalBank gave the project an $8 million mortgage. In March, when the balance was down to $5 million, Merco Group got a future advance to boost the mortgage to $7.1 million.
Marine industry representative Miami River Marine Group, the Durham Park Neighborhood Association and Capt. Herbert Payne challenged this project, along with two others.
In August, the same appeals court also overturned the residential zoning for the 633-unit Coastal on the River and the 1,073-unit Hurricane Cove.
Source : http://southflorida.bizjournals.com/
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