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Six towers' sellout could reach $500 million

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http://www.bizjournals.com/southflorida/st...tml?t=printable

Six towers' sellout could reach $500 million

Susan Stabley

Two rising real estate stars have joined Miami developer Antonio Cabrera Jr. to create a mixed-use development with up to 2,800 condos along the Miami River.

The site for the Riverfront project's six towers was once one of several proposed sites for a Marlins baseball stadium. Cabrera's concept has been on hold since 2002.

"I tried to take this on myself and it was too large a project," he said. The owner and president of Miami-based The Epoch Corp. initially planned to develop the site as "Miami River Renaissance," then "Miami River Village."

Instead, he sold half the property to Key International, led by the Ardid family, for $18 million in November 2003.

The search for appropriate partners and financing for the project has delayed its development, along with permitting and rezoning issues, Cabrera said.

Lissette Calderon and I

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