Submit a Tip! / Newsletter / Aventura Mall /
Aventura Florida 33180 header image 2

Terzetto Villas New Construction

April 26th, 2010 · No Comments

The real estate market has totally changed in South Florida, that’s no secret. By now everyone has heard of the collapse and the increasing amount of foreclosures, short sales, and properties at auction. Aventura has not been immune from this current real estate change. Several years ago the project known as Terzetto at Aventura, located at 2805 N.E. 185th St. a few blocks east of U.S. 1, had an aggressive team to promote the pre-construction sales of their condos and villas.

They even had a huge office on Biscayne Blvd across from Del Prado. This project went to a complete halt as the market was slipping and Ocean Bank won a motion to have a receiver take over the property – Ocean Bank won an approximate 49 million dollar judgment against the developer, Merco Group. This was in 2008, read full article.

A – Terzetto Villas, the project is looking good. The construction has been nearing completion over the last 8 months.

B – Terzetto Condo undeveloped land

C- Former location of aloft Aventura Hotel

Fast forward a few years and a portion of the project that was started several years ago is now almost complete, leaving empty land next to the Villas (A). This project has become an eye sore in Aventura; however, it’s slowly looking better – now the main issue is the undeveloped land (B), let’s make that a park. Maybe the city can offer some tax incentives or other strategic financing in exchange for making the land a neighborhood park? Soon we’ll find out what will happen with Terzetto at Aventura. According to a March 2010 South Florida Business Journal, the property is set for auction this June. We all drive by this “situation” and finally there’s some action.

In addition to the unfinished Terzetto at Aventura, across the street is an abandoned hotel project. This project is located at 2777 NE 185th Street. The plan was to develop aLoft Aventura Hotel, a Starwood brand. The groundbreaking was in 2008 – take a look at some of the photos.The large plot of land, approximately 63,000 square feet, has a for sale sign on it. In the meantime, this land doesn’t reflect the luxury lifestyle of Aventura – it’s filled with abandoned rebar, overgrown grass and areas of the green tarp are tagged with graffiti.

This would also make a great park, is that even possible? Can anyone think of a creative way to work with the government, banks, and owners to bring life to the land? There’s not much land left in Aventura, these two pieces represent great opportunity for either community or commercial development.

We have moved forward from 2008 and look forward to a future with solutions to theses issues.

Related posts:

  1. Aventura City Construction
  2. Lumpy Sue MusicFest Greynolds Park
  3. 2008 Lumpy Sue Photos
  4. Turnberry Associates in Bahamas
  5. Aventura Parks and Washington Square Park

Tags: Community News · real estate

0 responses so far ↓

  • There are no comments yet...Kick things off by filling out the form below.

Leave a Comment