If I could invest with one developer it would be with the controversial Michael Swerdlow. He KNOWS when to bail out on a deal. He has done it over and over again, sometimes leaving angry government officials holding the bag while he holds the bucks. Getting out of Biscayne Landing just before the crash of Real Estate values was brilliant on his part. I like his instinct for profit. Yep, he is my choice for "shrewd guy."Meanwhile, the boondoggle is just beginning to gel at the former super-fund site, Biscayne Landing. The City of North Miami retains ownership of the land and has partnered with Biscayne Landing for the development on the land. Condo owners are not happy with the development company, feeling short-changed on promised amenities not delivered. Apparently Burns is also upset: believing the City is getting a bait and switch from the developer.
I wish I could take you on an easier route to the revealing letter written by North Miami Mayor Kevin Burns. You would suppose there would be a Miami Herald article but you would be wrong. Jim Mullin's "Biscayne Times" has the scoop: Hit on January 2008 and go to page 27. Some angry quotes from the Mayor Burns letter:
“And please don’t try to cajole or threaten the city with any statements that if increased commercial development is not granted, the land will lie fallow for years. If the project is going to fail, then the city will simply have the land available to offer to another developer.” And, Burns said, on the developer's promise of affordable housing:
“Over the past five years, not one unit of affordable housing has been built or renovated, and this has turned the city’s efforts to being a leading community and model of affordable housing into a laughingstock in the county.”
Sorry Burns, the county's affordable housing is by far tops on the laughingstock totem pole.
This whole deal was put together by the developer's attorney, Clifford Schulman. Another smart move by Swerdlow - hiring the most adept attorney at drawing up an iron-clad contract. I don't think the City has even begun to feel the brunt of the contract's intricacies and loopholes -- all benefiting the developer. You don't have a chance Kevin Burns!
6 comments:
Yes, where are those two ugly buildings they already have built? They are not in that rendering.
The mayor wrote that letter in a moment of pique...and has since backed almost totally away from it...disavowing it in several public forums.
He had a bad day!
;-)
"leading community for affordable housing" ...not good news for SFH homeowners hoping to see their property values rise in NM ( if they manage to live long enough in this crime infested area ).
Is the Mayor planning to squish more "affordable housing" into the older neighborhoods west of Biscayne? If NE6th avenue north of 135th street isn't a horrible example of how afwul row after row of "affordable" housing can be, I don't know what is.
But then again, this is coming from the same Mayor Burns who blames FPL instead of his own government for failing to prevent FPL from "sticking it" to the neighborhood of SFH's along 135th street from NE14th Avenue west.. Where are the cojones when you really need them? Not found at NoMi city council for sure, I don't care how loud councilman Despinosse raises his voice, no cojones in sight anywhere except the overworked and underpaid NOMI Police Department.
Maybe Burns read the iron clad contract and that is why he backed down...
And those, FPL poles what an eyesore. Go down 135th street. It is a crime.
FPL needs to bury them.
maybe mayor mccheese should stop ripping off everyone on their water bill before he complains about anything else
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