Pavilion from the Ocean

Pavilion from the Ocean

Welcome to

This forum, by owners for owners, provides useful information for owners to view and discuss.

This blog does not belong nor represents the views of the Pavilon Condo Association

You can subscribe to the blog by entering your email on the upper hand side on the blog. You will then receive an email with a link that you must click on to complete the subscription. Then every time the blog is updated you will receive an email message.

New condo project at the Jockey Club receives $21 million in financing

Developers want to build a luxury condo and hotel at the Jockey Club near North Miami

Financing comes from Toronto-based mortgage lender Rompsen

Jockey Club was once a popular nightlife hotspot

The old Jockey Club, a once-popular nightlife spot in unincorporated Miami-Dade County near North Miami, could get a brand new look after a planned condo and hotel project there received $21 million in financing Wednesday.

Developers want to build 240 luxury condo units, a 90-room boutique hotel, a new deep-water marina and a five-acre “health and wellness” complex at 11111 Biscayne Blvd., Miami. That’s in addition to the 411 condo units already on site. The project is called Apeiron, which means “without limits” or “infinite” in ancient Greek.

During its heyday in the 1970s, the Jockey Club was as hot as South Beach is today with bars, a restaurant and a reputation for the funkiest disco dancing in town. But it gradually fell out of favor and into foreclosure. Several developers have tried and failed to revitalize the property in the years since.

Last year, a group led by former Ritz-Carlton Group president Horst Schulze, hotel designer Michael Bedner and former Related Group executive Muayad Abbas bought the 13.6-acre property for $3.25 million, according to county property records.
The recent round of financing was provided by Toronto-based mortgage lender Romspen.

Developers have started buying land in North Miami and North Miami Beach as prices skyrocket for waterfront land in Miami and Miami Beach. Just four miles north of the Jockey Club, the Soffer and LeFrak families are developing the 183-acre former Biscayne Landing site into a massive, mixed-use project they’ve dubbed SoLeMia.

No comments: