Alta Developers’ founder says they have commenced buying out owners of an older condo building at 1430 Brickell Bay Drive, with plans to demolish and rebuild.
A source who wishes to remain anonymous tells TNM that the buyout is hostile, with owners being offered “pennies on the dollar.” The building is going to market at a starting price of $65 million, he said.
Alta’s Henry Pino posted a message on social media, saying that the new development would be ultra-luxury and include a helipad.
The developer has already met with city officials about rezoning the property.
Previously: Developers Working On New Brickell Project
