ADD Inc. And Lender Take Action Against River Landing Developer Over Unpaid Bills

River Landing is in foreclosure, and the developer owes millions to lenders and architects.

Architect ADD Inc. filed a lien late last month claiming that $1.1 million worth of architectural work remains unpaid, out of a total of about $3 million billed. ADD’s Jon Cardello signed the lien.

Last week, lender Eastwatch Holdings filed a foreclosure lawsuit over a $38.19 million mortgage issued in April 2014. Eastwatch is an affiliate of Northstar Realty Finance Corp.

River Landing is one of the few Special Area Plans that have been approved in the city of Miami, thanks to an unusually large property size. It is approved to include 537,000-square-feet of retail and 440 apartment units. The Mahi River Shrine once stood on the property and has already been demolished.

The developer claimed last week that he had ‘just signed an agreement with an equity partner’ and will pay off the loan.

 

 

 

 

 

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Anonymous
5 years ago

Too bad, this project would have been great for the area.

Danny
5 years ago

Should’ve stopped A/E services once the debt was over $100k.

Brad
5 years ago

I am sure its all posturing and will be awesome

Anonymous
5 years ago

It will get built just the usual Miami pre-construction bullshit on every project before its built there is always some type of legal issue.

Anonymous
5 years ago

I hope somebody serious buys it, redesigns it, and builds something a lot nicer….

Anonymous
5 years ago

i don’t think that it was an issue with the design. After all is part of the new Miami very aggressive project with a big change in the surrounding communities, give them a good chance to change life stile.

Anonymous
5 years ago

Agree, total crap. Another bad Add Inc design. Why do developers go to these poor design firms that create poor solutions that have very little to do with the location, the history or culture or the climate of a place. This crap can be anywhere. Unimaginative stacks of boxes. This could be in Detroit, Cleveland, Boston, Baltimore… oh exept they placed some palm trees, so that must mean its somewhere warm that has boats. Can’t be the Miami River, river is too blue and wide…

Anonymous
5 years ago

Except you need to realize that these developers have a profit that they are trying to yield… this area doesn’t currently warrant first class buildings and this is strictly a catalyst and starting point for the neighborhood its planned for. Miami needs more projects like this outside of the core.

GyroMeat
5 years ago

Try getting a retailer to sign a lease with something that isn’t a box. Wake up Anonymous, you have no idea. Atleast they tried to do something with the stack. Others would extrude the same plate. See dadeland station. Applaud them for trying. Seeing as how the client isn’t paying shows that they most likely had to design within an extremely tight budget. The real world is about money.