A partnership between two developers has purchased the One River Point property, with plans to move forward with development, according to the SFBJ.
ORP Partners LLC paid $58.5 million for the site and development rights from Kar Properties and Shahab Karmely.
The new company is listed as being managed by Edgardo Defortuna. According to a statement, it is a partnership between Karmely and Defortuna.
Defortuna said in a statement that his company is “extremely bullish on the market and on the future of the Miami River.”
“Edgardo and I are excited to realize the original vision and fine tune the details to take this project to the next level together,” said Shahab Karmely.
One River Point is planned as connected 66-story towers designed by Rafael Viñoly, with a combined 300 units.
The project was resubmitted to the FAA on August 30 at 788 feet above ground, or 797 feet above sea level, records show.