The Intracoastal Mall, a once-silent giant along the North Miami Beach waterfront, has been making waves in the real estate world since its acquisition by Dezer Development affiliate in December 2013. What started as a $63.5 million investment has evolved into a grand vision of a multi-purpose property, but not without facing its fair share of challenges. Notably, Dezer Development, known for its significant impact in Sunny Isles Beach with iconic projects like Trump Towers, Trump Royale, Porsche Design Tower, Armani, and Bentley, has embarked on yet another ambitious venture.
The Genesis of Transformation:
Built in 1986, the Intracoastal Mall, with its 271,000 square feet of prime retail space, stood as a landmark. However, in 2015, a 40,000-square-foot lease with iPic Theaters marked the beginning of a significant transformation. Plans for a massive renovation surfaced in 2019, with promises of 2,000 residential units, 2.5 million square feet of commercial space, and a luxurious eight-screen movie theater.
Controversy on the Horizon:
The ambitious project, however, found itself sailing through troubled waters as the Eastern Shores community raised concerns about the chosen location. Nestled between the 29th and 40th Avenue, Eastern Shores is a prestigious neighborhood with homes ranging from $1.2 million to over $6 million. The proposed development threatened their serene water views and sparked a collective report, leading to a delay in the grand plan.
Community Backlash and Planning Board’s Decision:
Residents of Eastern Shores expressed dissatisfaction with the looming mega-project that risked obstructing the reasons they chose the area in the first place. In response, the North Miami Beach Planning & Zoning Board issued a statement in June, not only acknowledging the community’s concerns but also highlighting potential traffic issues. The Northeast 35th Avenue, the sole exit route for Eastern Shores, became a focal point of concern.
Navigating Traffic and Community Concerns:
To address the impasse, the Dezer Development faced the challenge of presenting a transportation plan approved by the Florida Department of Transportation. The deadline set for July 13 necessitated creative solutions. The proposed alternatives included changes in building height, recreational zones, and even the creation of an additional canal with a water taxi stop, demonstrating a commitment to resolving both traffic and community apprehensions.
As the saga of the Intracoastal Mall’s transformation unfolds, it serves as a compelling case study in real estate development, navigating challenges, and finding innovative solutions. The tale of Dezer Development and the Eastern Shores community showcases the delicate balance between progress and preserving the essence of a community, ultimately shaping the future landscape of North Miami Beach. With Dezer’s track record as the foremost developer in Sunny Isles Beach, their latest endeavor adds another chapter to their legacy of transforming the coastal skyline.