Taking During the Course of Development

Defended the owners and developers of the Opus project in downtown Miami. Opus, a proposed 1,500,000 square foot high-rise development project on 3.7 acres lying between the I-395 corridor and the Performing Arts Center was acquired by the FDOT as it was about to receive final approvals for development. The complexity of the case was in ascertaining the land value in the dynamic 2005 downtown Miami market and securing compensation that included remuneration for the developer’s efforts in acquiring the requisite development approvals from the city, completing project design, financing, and end unit presale reservations. Our early involvement in the advanced acquisition process helped to secure $78,000,000 in compensation -- $25,000,000 more than FDOT’s initial appraisal of only $53,000,000.

read more »