Wednesday, January 8, 2020

More real estate sold for redevelopment while the council continues to neglect the promised DUV rewrite. Bellsouth Building, south of Palmetto Bay Park is sold to investment group

Private enterprise keeps moving while the Palmetto Bay government sleeps, perhaps trying to get in under the wire, before any new zoning restrictions take effect.

More real estate in Palmetto Bay is being sold into re-development. The question is what are the vested rights for this particular (ans significant) parcel of land now that the moratoriums and Zoning In Progress, a/k/a "ZIPs" put in place under me (sponsored by David Singer) in 2016. It is unfortunate that these moratoriums/ZIPS were allowed to expire under Mayor Cunningham as of February 2019, prior to any of the promised revisions to Sec. 30-50.23. - Downtown Urban Village (DUVcode) being put in place. Will this latest sale of Palmetto Bay property be much to do about nothing, a great opportunity for Palmetto Bay redevelopment or result in yet another litigation cluster? Time and advocacy will tell. The property located in Palmetto Bay is the Bellsouth building located at 9500 Southwest 180th Street, just south of Palmetto Bay Park. . The land totals 130,680 sq. feet with the existing building totaling 32,489 sq.feet.

See- TheRealDeal online, "South Florida Real Estate News" article of January 7, 2020, TRD MIAMI, By Keith Larsen: BellSouthsells 1M square feet of land for $25M The portfolio sale includes eight buildings with 15K sf

Qualcon Real Estate Fund purchased commercial properties with over 1 million square feet of land in South Florida from defunct BellSouth Telecommunications for $25 million. The firm, led by developers Thomas Conway and Kevin Levine, along with Andy Stone and Petra Capital Management, purchased eight commercial buildings with 115,000 square feet, and 1.006 million square feet of land, scattered across Miami-Dade, Broward and Palm Beach counties. Two of the properties are in Opportunity Zones, in Palmetto Bay and Little River. The Palmetto Bay property is located at 9500 Southwest 180th Street. The land totals 130,680 square feet; the building totals 32,489 square feet.
Click the headline above to read the complete article.

Photo: TheRealDeal online, "South Florida Real Estate News" 1-7-2020

Stay tuned. This may be coming to a zoning hearing near you.  I'm looking forward to hear what the plans are for this property.

Prior RELEVANT POST, see October 28, 2019, Village Council Chaos - Interaction with Village Attorney at a council meeting - Village Mayor & Council: You have been told repeatedly. You are the voting body. You have responsibilities of reading and knowing what you are voting on.

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