Related Group May Be Working To Buy Yet Another Development Property In Edgewater

Related Group may be trying to buy more property in Edgewater, a new corporate filing hints.

In March, Related filed with the state of Florida to register PRH Bay Oaks, LLC, state corporate records show.

The Bay Oaks name is similar to that of a property in Edgewater. A retirement community called Bay Oaks is located about two blocks away from Related’s recently completed Paraiso Bay project.

Bay Oaks was founded by the all-women Soroptomist Club in 1947, according to its website.

Paraiso Bay development may have been the single most profitable project ever for the company. It included 1,341 condos in four towers – of which almost all have now successfully closed (Related’s Icon Brickell included more units but was completed during last decades recession, leading to financial problems).

Related also recently submitted an offer to buy a waterfront property in Edgewater from a condo association. In its proposal, the developer said it would build 400 condos there.

 

 

 

(photo: bay oaks)