Michael Swerdlow, Boca Developers, is selling his stake in Biscayne Landing, the massive $1 billion, residential development planned for 200 acres in North Miami.

On the other hand, condominium builder Boca Developers, the other partner in the project, is buying out the Coconut Grove developer. The takeover by Street suggests Biscayne Landing will push forward with high-rise condos, despite the plunge in condo sales and the thousands of new units slated to come onto the market.

It emerged that Swerdlow and Street had differing views on Biscayne Landing's direction last March. Biscayne Boulevard, Oleta River State Park, Florida International University’s Biscayne Bay campus and the bay bound it. The city of North Miami is renting the land to the developers under a 200-year lease.

By M. Sese
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