Jeff Berkowitz, the developer responsible for the SkyRise project, is giving up requesting county funding for the project.
Berkowitz said that he could not meet the requirements set out by the county in order to obtain $9 million in funds. He instead decided to fund the $430 million project without the county’s help.
Raquel Regalado and Norman Braman filed a lawsuit that would help the SkyRise project, as well as Bayside’s expansion project. Bayside’s owner upped their mortgage from $79 million to $250 million in December 2014 in order to help fund the expansion.
The Bayside Marketplace Renovation and Addition project will change the current outdoor common areas and waterfront plaza, the existing open-air parking garage that is two-levels high, add two new levels of parking and a new retail component that will provide new tenant “shell spaces” along Biscayne Boulevard.
Source: thenextmiami.com
Photo credit: thenextmiami.com