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Announcement

Aperion Tower Approved Pending Height!

By
Cashflow In Miami
on
January 31, 2021

11111 Biscayne Blvd, Miami, FL

Apeiron Miami LLC wants to develop 120 condo units, a 90-key hotel and 52-slip mega-yacht marina on a 14-acre site that’s part of a bigger 22-acre property on Biscayne Bay at 11111 Biscayne Blvd. Three Jockey Club condominium towers are on the rest of the property.

Apeiron is led by former HBA International chairman Michael Bedner, Urbanis founder and former Related Group International vice president Muayad Abbas and Capella Hotel Group chairman and CEO Horst Schulze, according to the company website.

The Jockey Club developers built the complex starting in the 1960s. While the condo associations took ownership of their respective towers, Jockey Club kept a 14-acre common area. Before losing it in foreclosure in 1996, it entered the 1977 agreement with Jockey II and the 1995 agreement with all three towers.

Apeiron bought the common area in 2014.

The Jockey Club maintained the 1977 agreement was a restrictive covenant on the 14-acre parcel. The two tower associations amended their complaint to say the agreement bound Apeiron through a “successors and assigns” clause, the opinion said.

Apeiron argued it would be bound by the clause only if it were a corporate successor to the original developer or its express assignee rather than the land buyer.

The trial court rejected the restrictive covenant argument, and the appellate panel rejected the successor claim.

Under the 1995 agreement, Thornton said, “Apeiron has the right to not only develop, but to recommence its site maintenance” and “is not prohibited from developing on the common areas encumbered by” the maintenance easement.

When the original owner lost the property, the three towers formed the Jockey Club Maintenance Association Inc. to maintain the common area. After Apeiron bought the site in 2014, Jockey III withdrew from the maintenance association and entered a common services agreement with Apeiron.

The legal fight is  definitely not over here.

...

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