1.3 Million Square Foot Development is in the Works for Aventura

In Aventura, developer Dan Kodsi is planning to build a large mixed-use building featuring residences, offices, and high-end residential shopping. Kodsi’s company paid $39.1 million for 9.6 acres on the northwest corner of Biscayne Boulevard and Northeast 213th Street that they plan on building this mixed-use property.

Not only is this site being used for this massive mixed-use project but other lots in the area are currently under contract. These lots include 10 acres surrounding the development site.

Kodsi hasn’t named partners in the project or for the additional sites but stated that the project would cost over $500 million. According to Kodsi, the total site now consists of land and tiny residential structures that Aventura-based Rieber Developments successfully rezoned to allow for 1.3 million square feet of mixed-use development.

Aventura commissioners approved the zoning amendment in June 2021, permitting a 693-unit high-rise residential building; a 120-key hotel; 67,743 square feet of workplaces; 161,270 square feet of retail; and a 120-bed assisted-living facility.

Kodsi has yet to determine whether he would adhere to these guidelines or revise the development plans. According to him, the basic concept is for multifamily, offices, some of which will be used for medical purposes, and high street retail, which will serve as an alternative to the neighboring Aventura Mall.

The retail side of this development will be similar to the Miami Worldcenter but not as large. Kodsi constructed the Paramount Miami Worldcenter and is now building the Legacy Hotel & Residences at Miami Worldcenter.

The Next Steps: After the Champlain South Tower Collapse

In the wake of the condo collapse at Champlain Towers South, we are starting to see a shift in homeowner association infrastructure reporting as well as maintenance. Towns and local governments ordered immediate inspections and updated reports on older towers.

Miami/Dade County ordered inspections on towers older than 40 years of age. Miami Beach ordered an additional and immediate building inspection on all of their towers since the collapse.

Aventura, Florida is one of the only cities in Florida to pass an ordinance requiring condo associations to provide the officials with engineering and architectural reports within 24 hours, when requested. These reports will include concerns electrical, structural, or life safety concerns and on an annual basis.

According to the city press release, associations that do not comply with the new guidelines will be fined up to $500 a day and up to 60 days in prison.

This new ordinance was passed on Thursday and was sponsored by the Mayor of Aventura, Enid Weisman. The ordinance will become law once it receives a second approval.

Mayor Weisman stated, “There is nothing more important than ensuring the safety of the residents of Aventura. Requiring that reports indicating potential dangers to our residents are provided to the city will create transparency and help us to ensure the structural and electrical integrity of our residents’ homes.”

A second meeting is scheduled on August 10, 2021, to officially vote on the new ordinance.

We are encouraged by the actions of Aventura Florida and we hope to see the same ordinances and guidelines for all of Florida.