Flamingo South Beach North Tower Canceled?
Earlier this week, I received an email from someone stating that they had heard rumors that the North Tower of Flamingo South Beach had been canceled. I asked around and it seems that, while nothing has officially been announced, there are plans to give deposit money back to contract holders of units in the North Tower of Flamingo South Beach and to maintain it as a rental building. I’m assuming that the option to convert the Center Tower will not be exercised by MCZ/Centrum and that it too will remain as a rental building.
This is actually great news for owners of condos in the South Tower at Flamingo South Beach, as well as for owners of condos located in the surrounding neighborhood. There will now be much less condo inventory hitting the market. The three towers comprising Flamingo South Beach have a total of 1,688 units. I’m not sure how many of these are situated in the North and Center Towers, but my guess would be that it is something close to 1,100 units. That’s 1,100 less condos that would have otherwise become available on the market (if my estimate is accurate).
I’m just wondering if this will mean that the plans for the courtyard will now be scrapped. The renderings for the courtyard looked fantastic! I’m sure this additional element calculated into the decision-making process of someone who purchased a condo in the South Tower of Flamingo South Beach.