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Dezer going Mega in North Miami Beach!

Cashflow In Miami
August 12, 2020

3881 NE 163rd St, North Miami Beach, FL 33160

First of all- if Michael and Gil get their way, Jorge Perez and Edgardo Defortuna will choke on their saliva. This project, even if reduced in size , will change the face of this parking lot on the pictures forever.
Earlier this year Dezers finalized the buy of the 3909 Northeast 163rd Street office building in the corner of the plaza. It took them years and legal battles to acquire this piece for $15 million from ASA college.Michael and his wife Neomi paid $63,500,000 for the 26,3 acre property in December 2013.
So here is what have just gotten approved 5 to 2 in favor of zoning amendments:replace the one-story, 234,000-square-foot Intracoastal Mall and the three-story Asa College office building with a development of more than 2 million square feet. Plans include 35-foot tall townhouses, 85-foot tall apartment buildings, and high-rises ranging between 160 feet to 495 feet in height. The amended code will also allow Dezer Development to build a 250-room hotel.
By a narrower vote of 4 to 3, the planning and zoning board also approved a 30-year-development agreement with Dezer Development for the project that will include 2,000 residential units, 375,000 square feet of retail, 200,000 square feet of office, the 250-room hotel, and a new canal. The development agreement also envisions about 8 acres of parks, a transportation bus hub and water taxi. It also includes traffic mitigation that will increase the number of traffic lanes at Northeast 35th Avenue from four to six, and widen Intracoastal Mall’s entrance way at Northeast 36th Avenue and 163rd Street. It also requires Dezer Development to build a public community center, a police substation, and a fire rescue facility on site.
Bernard Zyscovich, an architect and planner hired by Dezer Development to design Intracoastal Mall’s new site plan, insisted that the amended regulations allow more open space on the property. Zyscovich also said that the amended site plan reduces the envelope of future commercial space from 2.5 million square feet to 525,000 square feet.

But most other planning and zoning board members were attracted by Dezer Developments’ claims that the project will produce 11,800 temporary jobs during construction, 2,700 permanent jobs after construction, and $11 million in annual property taxes.
To get to the final green light North Miami Beach City Commission will have a final say, but the development is now in motion.


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