Miami’s Wind by Neo condo in foreclosure
"foreclosure against Wind by Neo,"

Wind by Neo the largest of recent local project foreclosure actions 12/12/2008

The developer of Wind by Neo, a 42-story, 498 unit condo along the Miami River is facing a foreclosure lawsuit from Wachovia Bank.

The condo by Miami-based Neo Epoch was to be the first of six towers in a massive development on 13.5 acres at the intersection of Miami Avenue and the north bank of the Miami River. Instead, it’s one of the largest completed condos yet to face a foreclosure lawsuit.

In February, the Business Journal reported that the project was one of 191 that BankUnited would not write mortgages for – a result of declining market value and high investor concentration.

On Nov. 26, Wachovia Bank filed a notice of foreclosure against Neo Epoch 2; company officers Lissette Calderon, Maria Calderon and Frank Guerra; and contractors who held liens on the project. The document exempted the 214 residential units and four commercial units the developer sold from the foreclosure action.

Lissette Calderon, CEO of Neo Holdings of Florida, dismissed the action saying that Wachovia filed the foreclosure as a formality in preparation for its expected merger with Wells Fargo. Calderon is the director of Wachovia's community development advisory board.

"With Wachovia's cooperation, Wind has operated and continues to operate as a first rate building with no interruption in service whatsoever," Calderon said in an e-mail. "Just this week, after the foreclosure action was filed, we have closed 11 units and have confirmed over 60 units to close in the next 45 days."

In 2005, Wachovia granted Neo Epoch 2 a $115 million mortgage, with future advances possibly bringing it as high as $230 million, to build Wind by Neo.

Neo Epoch 1, a related company that owns a nearby property along the Miami River, holds a $22.8 million mortgage with Wachovia and a $1.4 million mortgage from Miami-based Ocean Bank. However, Neo Epoch 1 was not named in the foreclosure lawsuit.

The first sale in Wind by Neo closed in March. Closings started at a brisk pace, but trickled to a crawl. Neo Epoch issued a total of eight deeds in October and November, according to county records.

The lawsuit complaint, filed by Miami attorney W. Wyndham Geyer Jr., said Neo Epoch 2 owes Wachovia and its partner banks $46.6 million. HSBC Bank, Mercantil Commercebank of Coral Gables, Mercantile Bank and Comerica Bank participated on the mortgage with Wachovia, the suit says. The lawsuit also calls for a receiver to be appointed to take control of Wind by Neo.


Miami Condos Search    Miami Condos   Wind Bay neo

Wind by Neo Miami - Condos Miami River The Wind By Neo Miami Condo loft - Floor plans

Wind by Neo Miami is the latest project by Neo Epoch, the progressive developer that pioneered lofts in the Miami downtown area with its previous NeoLofts and NeoVertika projects. The kinetic nature of Wind by Neo provided the inspiration to create a completely different urban living environment with flexible spaces that are adaptable to each person's individual preferences. From Exo-Rooms -- 11 foot deep spaces which function as outdoor living areas -- to the interior K-Rooms -- Kinetic residences with flexible indoor spaces --, Wind by Neo Miami is sure to meet the ever changing lifestyles of its' occupants by offering maximum flexibility in a downtown living experience   Wind by Neo Miami Floor Plans Wind by Neo Miami condo listings and Home Page

Wind by Neo Miami Key Floorplans *Wind by Neo Miami - The sketches, renderings, floor plans, graphic materials, feature plans and specifications described herein are proposed only, and the Developer reserves the right to modify, revise, or withdraw any or all of the same in its sole discretion and without prior notice. Miami Conos Search

Ivy Miami condominium - Floorplans The Ivy condo address: 92 SW 3rd St Miami, FL 33130

Enter: The Ivy condominium Home page

Address: 92 SW 3rd St. in Miami, FL 33130 Description: 47-story high-rise overlooking Miami River Status: Under construction with completion expected in 2008 Developer: Key International The Ivy condominium in Miami is unique - a multi-layered world of its own, centered within the larger world of an exciting tropical metropolis - the city of Miami.  The Ivy is gated residential oasis that is a private, lushly landscaped park at the edge of the Miami River, the residences of The Ivy present a rare opportunity: an opulent lifestyle in the midst of a vibrant, cutting-edge urban scene. The Ivy is destined to become the newest buzz, the most talked about architectural masterpiece in Miami. The Ivy condominium offers the luxury of ultra-convenience. Ivy residents may stay within the secure and tranquil enclave and enjoy endless activities, like strolling to dinner along tree-shaded walkways.  They may visit the exclusive on-site spa, shop at the gourmet market or relax at the coffee bar surrounded by brilliant flowers and sensational riverfront views. Ivy boat owners will be thrilled by our dock facilities, located only a short distance downriver from the ocean waters.   Ivy Floor plans The Miami Condos Search Website

The Residences at Riverwalk are the only low-density waterfront condominiums in the historically preserved neighborhood of Spring Garden. If you are looking for exclusivity, prestige, quality, comfort, quiet elegance, luxury and security, then The Residences at Riverwalk is for you. All units have 3 bedrooms and 3.5 baths with over 2,200 square feet of living space and ten foot ceilings. Each unit has a flow through design with stunning views of both the city and the Miami River. Ideally located, The Residences at Riverwalk is right on the north bank of the Miami River, ten minutes or less from the Arenas, Downtown Miami, Brickell Ave, The Cedars Medical Center & Hospitals, Miami International Airport & South Beach. Residences at Riverwalk Miami website   No Units: 16 No Floors: 5 Estimate Price Range: $950,000 to $1,700,000 Unit Types: 3 bedrooms 3.5 baths Square Footage: 2,157 to 2,394 Year build: 2007 Riverwalk Residences Project Features: Two covered parking spaces per unit Private deepwater marina housing for up to 60 ft yachts Boat slips with electricity and water included and/or available for sale Riverfront cabana with outdoor kitchen and entertainment area Oversized swimming pool and spa overlooking the Miami River State of the art gym with cardio and free weight stations 24-hour security Exotic gardens with fountains Riverwalk Residences Unit Features: Imported Italian custom cabinetry Top of the line stainless steel appliances Granite countertops Toto fixtures in baths Lavish master bedroom suite Spacious walk-in closets Private unit lobbies Private wrap around terraces Expansive glass walls with astounding views Hurricane proof windows and sliding glass doors Home automation features

Residences Riverwalk Condo  View Larger Map

The Miami River and its surrounding neighborhoods have become magnets for all kinds of energy and activity over the last couple of years. Private sector developments along the River are at an all time high, and are expected to grow significantly in the years to come. Florida's State Legislature created the Miami River Commission in 1998 and is the official clearinghouse for all public policy and projects related to the Miami River. The Commission has become an important ally to the City in optimizing the extraordinary resources - historic, cultural, economic, environmental and recreational - of this unique waterway. The Department of Economic Development serves as the liaison to the Miami River Commission.

Miami River condos website

A 1999 report funded by the Miami River Commission revealed that the Miami River is Florida's fourth largest port in terms of dollar volume of trade, and handles about $4 billion in cargo on an annual basis, with shipments to 29 nations and territories of the Caribbean basin. River businesses participating in that study generated about $216 million in revenues and contributed nearly $20 million in local property taxes. The study also showed that marine-related industries now provide 1,200 jobs to local residents, amounting to a payroll of approximately $35 million. With this level of activity running through the heart of the city, Miami stays closely involved with the on-going initiatives that affect all aspects of life along the River. Current efforts are detailed below.

Miami River Infill Plan

The City of Miami joined forces with Miami-Dade County and the Miami River Commission to take a comprehensive look at conditions along the River and create a unifying land use vision for the Miami River and its neighborhoods. With funds from the Miami River Commission, the Florida Department of Community Affairs, the County and the Empowerment Zone Trust, the Miami River Urban Infill Plan is intended to serve as a strategic blueprint, a broad planning guide and an action plan, to steer land use and growth along this important regional waterway. The River Commission has approved the plan, and so has the City of Miami and Dade County.

River Corridor Economic Study

Among the recommendations set out in the River Urban Infill Plan, a comparative economic study and market analysis of the various commercial sectors and land use is seen as a critical element to completing the road map to the future along the River. This study, funded and led by the City, will emphasize the marine industry and will devise specific recommendations, strategies and tools to boost redevelopment and investment. This study, together with the River Urban Infill Plan, will form the basis for the creation of economic incentives and other appropriate measures to support growth along the River.

Extensions of the Miami River Walk & the River Greenways Plan

In another arena, the City Commission adopted, in principle, the Miami River Greenways Plan in May 2001. This effort was spearheaded by the Trust for Public Land and the Miami River Commission, and builds upon a City's program that was begun in the 1970's to develop a system of promenades along the River and Biscayne Bay. The Miami River Greenways system is a series of pedestrian and bicycle paths linking parks, neighborhoods and activity centers along both sides of the River. Since the City's approval, the plan has now moved into preliminary design phases, with consultants preparing schematic drawings of the greenway route from I-95 west to 12th Avenue.

Even before the Greenways plan was funded, the City had worked with river stakeholders and the Trust to continue the construction of river walk segments that began with the James L. Knight Center. In fact, since 1995, the City has been designated to receive several grants from the State and County totaling over $4,150,000 to build River Walk segments near Jose Marti Park, Lummus Park and the Flagler Street Bridge. Engineering and design for these projects are in progress or will be coming on line shortly. We now have a pending application for an additional $1,000,000, matched by Knight Foundation through the Trust for Public Land, for a bike path component in East Little Havana.

"Lummus Landing" (Riverside Redevelopment Project)

"Lummus Landing" is another project that combines quality of life improvements in the form of a river walk, public plazas and boat slips, with the economic potential to create additional commercial activity of the River. Located on River Drive, across the street from Lummus Park (where the Pioneers Club used to sit), the City is currently overlooking the construction activities that are under way. Backed by an economic study of the Riverside district that was finished in 2000, the City eventually plans to seek a private entrepreneur to develop marine-related retail establishments, a restaurant, or possibly a fish market to serve the Riverside neighborhood.

Miami River Condos - River Dredging

Perhaps the biggest project on the River is the federal, state and locally funded Miami River Dredging project. It is certainly the most expensive at $80 million, according to the estimate devised by the lead agency, the U.S. Army Corps of Engineers. With Miami-Dade County as the local sponsor, the City is a full financial partner in this project, contributing up to 25% of the non-federal share, with assistance from the Florida Inland Navigation District. This project is expected to pull about 500,000 cubic yards of sediment from the River's navigational channel. The City and County are also looking into the potential of asking the Corps to dredge areas outside the federally designated channel, from bank-to-bank and tributaries. The State of Florida has issued a conceptual water quality permit and the Project Cooperation Agreement between the County and the Corps in being finalized in Washington.

The Army Corps of Engineers has approached this major dredging project with a great deal of flexibility in the areas of funding, process and technology. With so much going on along the Miami River, even just from the City's perspective, this waterway is extremely important to our community, the region and the state.

Miami Real Estate Developers

The reality is that, regardless of past apathy, developers are no longer ignoring the river. They have been snapping up parcels of land that are among the last remaining pieces of waterfront real estate in South Florida. From One Miami - the Related Group's massive undertaking at the mouth of the river - to the new One River View Square office building next to the Miami Avenue bridge, the waterway is undergoing a dramatic transformation that has been decades in the making. A virtual flurry of condominium and office projects are either underway or in planning stages, with a crop of new restaurants sprouting up on the river's edge. Tying everything together will be a $24 million public "riverwalk," planned to run the entire length of the waterway, paid for in part by developers and in part by public and donated funds.

About the Reflections on the Miami River Condominium
Reflection on the River
Community: Miami River Brickell Area
Architect: Dorsky Hodgson & Partners
Views: Riverfront and City
Completion Date: 2008
Bedrooms: 1, 2 and 3
Residence Size: 1052 - 2350
Total Residences: 125
Number of Stories: 24

Reflections on the River Condo home Page

Reflections on the Miami River, located on the Miami River shoreline, in the Brickell neighborhood of SW2nd Avenue and SW6th Street. Reflections on the Miami River is a deluxe Riverfront condominium development that combines the very best of the Miami River with the elegance of Brickell. The financial district is just a block away with its amenities and address of acclaimed stature. Reflections on the Miami River is being designed by award winning architects Dorsky, Hodgson + Partners. This exquisite building will greatly enhance the Miami skyline.

One bedroom, one bedroom + den, two bedroom, two bedroom + den and three bedroom residences are available - Reflections on the River 125 Units Total - 6 River Lofts  - 99 Main Building Lofts  - 20 Penthouses

Reflections condo on the Miami River - Property Features
Located along the Miami Riverwalk
Tropical landscaping
Pool and Jacuzzi
Spa
State-of-the-art fitness center
Spa
Boat slips
Business center
Theater
Multi-purpose room
Retail stores and restaurants located on the bottom floor
24-hour security
Smart building
Valet
Concierge
Room service