By Brosda and Bentley Realtors
In a move to rejuvenate an aging waterfront complex in North Miami, developer Ian Bruce Eichner, founder, and CEO of Continuum Company, has unveiled plans to transform the Mariners Bay Condo site into a luxurious 267-unit condo project. The proposal, filed with Miami-Dade County in late October, outlines a 20-story development designed by Kobi Karp, featuring a mix of townhouses and one, two, and three-bedroom units. This ambitious project aims not only to breathe new life into the North Miami skyline but also to address the pressing need for structural upgrades and modernization.
Mariners Bay Condo Redevelopment:
The Mariners Bay Condo, located at 12000 North Bayshore Drive, was completed in 1981 and has seen decades of wear and tear. In response to the costly repairs required for its 40-year recertification, Eichner has entered into contracts for 45 units out of the 46-unit complex. The undisclosed purchase price signals a strategic move by Eichner to assist unit owners who may face financial challenges in meeting the demands of necessary repairs and maintenance.
Development Overview:
The proposed 20-story development is set to comprise 12 townhouses, 48 one-bedroom units, 135 two-bedroom units, and 72 three-bedroom units. The project also includes plans for the renovation of an existing 20-slip marina on the 4.3-acre site. With renowned architect Kobi Karp at the helm, the design promises a blend of luxury and functionality, catering to the discerning tastes of prospective homeowners.
South Florida Condo Redevelopment Trends:
Eichner’s proposal aligns with a broader trend in South Florida, where developers have been capitalizing on opportunities to redevelop aging condo buildings. This surge follows the tragic collapse in Surfside and subsequent state mandates on structural maintenance. Developers are acquiring properties from condo owners burdened by repair assessments, offering a fresh start through innovative and safe residential developments.
Eichner’s Track Record:
Ian Bruce Eichner, no stranger to South Florida’s real estate landscape, has previously left his mark with successful projects such as the two-tower Continuum at 100 South Point Drive in Miami Beach’s South of Fifth neighborhood. His commitment to the region continues with ongoing projects like La Baia in Bay Harbor Islands and the recently launched Continuum Club & Residences in North Bay Village.
Ian Bruce Eichner’s vision for the Mariners Bay Condo site represents a significant step towards revitalizing North Miami’s waterfront. The proposed development not only promises a luxurious living experience but also addresses the urgent need for structural upgrades in aging residential buildings. As Eichner continues to make strategic moves in South Florida’s competitive condo market, his legacy of transformative real estate projects is poised to leave a lasting impact on the region’s skyline and the lives of its residents.
Pre-construction sales by Brosda and Bentley Realtors (305) 788–9393.
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