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Summary Minutes:Regular City Commission Meeting May 21,2015 City of Sunny Isles Beach,Florida <br /> Second,the existing as-built context of our project puts us square in the middle of other tower <br /> developments. What they are asking for is fair treatment as with other projects that have come <br /> before you, the political climate should not influence this project. Every application is <br /> required by your Code to be reviewed on its merits and they are asking for a fair review of <br /> their application. Turning to the TDRs, we are asking for 38,000 square feet of TDRs which <br /> sounds like a lot,when you have a hotel or an office building asking for 38,000 square feet of <br /> TDRs, resulting in increased impacts to the neighborhood, traffic, etc., it does impact a <br /> neighborhood. Their request for TDRs is merely to add six(6)additional residential units,six <br /> (6)families will be able to live in this project as a result of their request for TDRs. The 38,000 <br /> square feet allows them to provide larger units, their goal is to provide a family-oriented <br /> development. The 38,000 square feet will be spread out over those units. Without TDRs,we <br /> are about 130,000 square feet and 71 units,with TDRs 168,000 square feet and 77 residential <br /> units, there is no impact to the community from approving our TDRs. The vision for this <br /> project is somewhat different from the other high-rise developments you have seen. <br /> Tim Lobanov said he is a member of the Verzasca Group in Bay Harbor Islands,the developer <br /> who is presenting this project. The Verzasca Group is a global real estate development <br /> company and delivered over 5,000 apartments. Their development is not limited to residential <br /> but includes two recent Kindergartens and two full sized schools for over 1,300 students, as <br /> well as apartment buildings, shopping malls, and hotels. Their current local project includes <br /> two buildings in Bay Harbor Islands which are now 50% sold, and a 57-story tower in <br /> Edgewater. They are proud to be here tonight with this exciting project that they feel is a <br /> tasteful addition to the local neighborhood. Their vision for this project is to create a family <br /> oriented facility geared towards full-time residents. Their building is designed with large units <br /> catering to a family lifestyle. Their goal is to fill a need whereby current and perspective <br /> residents of Sunny Isles Beach can find beautiful apartments that are not geared toward the <br /> world's luxury elite. Their request for TDRs will allow the average unit size of 1,750 square <br /> feet, and without TDRs the average unit size will be 1,450 square feet. The TDRs they are <br /> requesting will give families more livable space, and it will only add insignificant density. <br /> From the project's conception they have reached out to the Mayor,Commissioners,neighbors, <br /> and local stake holders. He is pleased to say that they have worked with the King David <br /> Condominium Association and Chabad right next door and look forward to a positive <br /> relationship going forward. They also reached out to several local condo associations, <br /> business owners, and individual unit owners in the King David. He wants the Commission to <br /> know that they have proactively and diligently reached out to anyone and everyone in the <br /> hopes of creating a dialogue with their neighbors. They want to be good neighbors and they <br /> are committed to build a great project and ensure the successful development of this property. <br /> Robert Morales, Sales Manager of this project, said they are catering to many Sunny Isles <br /> Beach residents that have been pushed out of this City for the lack of properties that are within <br /> a more affordable, a more attainable price. They want to attract new families, they want <br /> families to grow and raise their children here,to go to school here,to make Sunny Isles Beach <br /> grow. We don't want our building to be used as any platform for any ambassador or a flipper <br /> to come in,we want families, and that is why we need those TDRs so we can get more livable <br /> space for the units. The majority of our units are priced under$1 Million which if we look at <br /> today's market and everything that has been built in the City which surpasses that mark. They <br /> are asking for the City to treat them with fairness. <br /> 9 <br />