Creditors to Take Over Troubled Biscayne Landing Project

An email alert from North Miami Councilman Scott Galvin bears more bad news for a troubled residential and commercial development in his city.

Galvin informs North Miami residents not to bother showing up for a town hall meeting scheduled for tonight to discuss what the heck is gonna happen with Biscayne Landing.

The meeting has been postponed, Galvin explained, because Boca Developers, the real estate company developing Biscayne Landing, is no longer in control of the project. In two weeks, international financial firm Credit Suisse will take over the 99-year lease with the city.

This past April, the South Florida Business Journal reported Boca Developers was in default on a $110 million mortgage on the 188-acre site. City leaders had hoped Biscayne Landing would be a catalyst for economic growth, with 5,999 new residences and funding for affordable housing units.

Keep New Times Free
I Support
  • Local
  • Community
  • Journalism
  • logo

Support the independent voice of Miami and help keep the future of New Times free.

Keep Miami New Times Free... Since we started Miami New Times, it has been defined as the free, independent voice of Miami, and we would like to keep it that way. Offering our readers free access to incisive coverage of local news, food and culture. Producing stories on everything from political scandals to the hottest new bands, with gutsy reporting, stylish writing, and staffers who've won everything from the Society of Professional Journalists' Sigma Delta Chi feature-writing award to the Casey Medal for Meritorious Journalism. But with local journalism's existence under siege and advertising revenue setbacks having a larger impact, it is important now more than ever for us to rally support behind funding our local journalism. You can help by participating in our "I Support" membership program, allowing us to keep covering Miami with no paywalls.

We use cookies to collect and analyze information on site performance and usage, and to enhance and customize content and advertisements. By clicking 'X' or continuing to use the site, you agree to allow cookies to be placed. To find out more, visit our cookies policy and our privacy policy.


Join the New Times community and help support independent local journalism in Miami.


Join the New Times community and help support independent local journalism in Miami.