HomeMy WebLinkAboutReso 2026-3992RESOLUTION NO. 2026 - S_2--
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF SUNNY ISLES BEACH,
FLORIDA, AUTHORIZING THE TRANSFER OF TRANSFERABLE DEVELOPMENT
RIGHTS ("TDRs") FROM LA PLAYA BEACH ASSOCIATES, LLC TO LA PLAYA 2, LLC,
IN THE AMOUNT OF ONE HUNDRED THIRTY-SEVEN THOUSAND NINE HUNDRED
SEVENTY-SEVEN AND TWENTY-SIX HUNDREDTHS (137,977.26) SQUARE FEET OF
FLOOR AREA AND FIFTY-EIGHT (58) DWELLING UNITS, REPRESENTING A TDR
VALUE OF SEVENTEEN MILLION TWO HUNDRED FORTY-SEVEN THOUSAND ONE
HUNDRED FIFTY-EIGHT DOLLARS AND NO CENTS ($17,247,158.00), FOR THE
PHASE II/NORTH TOWER PORTION OF THE APPROVED PROJECT ON THE
PROPERTY LOCATED AT 18801 AND 18805 COLLINS AVENUE; PROVIDING THE
CITY MANAGER WITH THE AUTHORITY TO DO ALL THINGS NECESSARY TO
EFFECTUATE THIS RESOLUTION; PROVIDING FORSEVERABILITY; PROVIDING FOR
REPEALER; PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, pursuant to Zoning Resolution No. 15-Z-156, adopted November 19, 2015, the
City Commission approved the zoning site plan application submitted by La Playa Beach
Associates, LLC, for the property located at 18801 Collins Avenue (the "Property"); and
WHEREAS, pursuant to Resolution No. 2015-2497, adopted November 19, 2015, the City
Commission authorized the transfer of the development rights in the amount of Two Hundred
Eighty -Three Thousand Four Hundred Eighty -Five (283,485) square feet of floor area and One
Hundred Nineteen (119) dwelling units to La Playa Beach Associates, LLC, from the City's TDR
bank account; and
WHEREAS, pursuant to Resolution No. 2016-2511, adopted January 21, 2016, the City
Commission approved a donation of TDRs in the amount of Seventy -Five Thousand (75,000)
square feet of floor area and Thirty -Five (35) dwelling units to Corner House LLC for assignment
to the Property; and
WHEREAS, in 2025, due to the phased nature of the Project, the Property was divided
into two separate folios, with a Declaration of Restrictive Covenants in Lieu of Unity of Title was
approved by the City and recorded in the public records, resulting in the Property being identified
as located at 18801 and 18805 Collins Avenue; and
WHEREAS, each of the two phases of development of the Property will be owned by
separate legal entities, to wit, La Playa Beach Associates, LLC, owning the Phase 1/South Tower
portion of the Property, and La Playa 2, LLC, owning the Phase II/North Tower portion of the
Property; and
WHEREAS, since the full allocation of TDRs was originally authorized for La Playa Beach
Associates, LLC, pursuant to Resolution No. 2015-2497, and due to the phased nature of the `
Project, and the Phase II/North portion of the Property to be owned by La Playa 2, LLC, a
proportional transfer of TDRs to La Playa 2, LLC is necessary and proper; and
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WHEREAS, the City Commission wishes to approve the transfer of TDRs from La Playa
Beach Associates, LLC to La Playa 2, LLC, in the amount of One Hundred Thirty -Seven Thousand
Nine Hundred Seventy -Seven and Twenty -Six Hundredths (137,977.26) square feet of floor area
and Fifty -Eight (58) dwelling units, representing a TDR value of Seventeen Million Two Hundred
Forty -Seven Thousand One Hundred Fifty -Eight Dollars and No Cents ($17,247,158.00); and
WHEREAS, pursuant to Section 265-11(M) and Section 265-23.G.(1)(d) of the City of
Sunny Isles Beach Land Development Regulations, La Playa 2, LLC shall be required to provide to
City a Promissory Note for the payment of the TDRs, not paid -in kind, over a period of time and
on terms and conditions approved by the City Commission, in the amount of Seventeen Million
Two Hundred Forty -Seven Thousand One Hundred Fifty -Eight Dollars and No Cents
($17,247,158.00);
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF SUNNY
ISLES BEACH, AS FOLLOWS:
Section 1. Incorporation of Recitals. The foregoing recital paragraphs are hereby ratified and
confirmed as being true and the same are hereby made part of this Resolution.
Section 2. Authorizing the Transfer of TDRs. The City Commission hereby authorizes the
transfer of TDRs from La Playa Beach Associates, LLC to La Playa 2, LLC, in the amount of One
Hundred Thirty -Seven Thousand Nine Hundred Seventy -Seven and Twenty -Six Hundredths
(137,977.26) square feet of floor area and Fifty -Eight (58) dwelling units, representing a TDR value
of Seventeen Million Two Hundred Forty -Seven Thousand One Hundred Fifty -Eight Dollars and
No Cents ($17,247,158.00).
Section 3. Requiring Promissory Note. La Playa 2, LLC shall provide the City with a Promissory
Note for the payment of TDRs for an indebtedness of Seventeen Million Two Hundred Forty -
Seven Thousand One Hundred Fifty -Eight Dollars and No Cents ($17,247,158.00) on terms and
conditions acceptable to the City Commission.
Section 4. Authorization of City Manager. The City Manager is hereby authorized to do all
things necessary to effectuate this Resolution.
Section 5. Severability. If any section, subsection, sentence, clause, phrase, or portion of this
Resolution is, for any reason, held invalid or unconstitutional by any Court of competent
jurisdiction, such portion shall be deemed a separate, distinct and independent provisions and
such holding shall not affect the validity of the remaining potions of this Resolution.
Section 5. Repealer. All Resolutions or parts of Resolutions in conflict herewith shall be and
are hereby repealed.
Section 6. Effective Date. This Resolution shall become effective upon adoption.
@BCL@7815016D Page 2 of 3
79
Maur
PASSED AND ADOPTED this 19th day
Betancur, CMC, City Clerk
La risa
a
in, Mayor
APPROVED AS TO FORM
AND LEGAL SUFFICIENCY:
44ig� - I
A ain E. Boileau for Nabors, Giblin
& Nickerson, P.A., City Attorney
Moved by:0PwC1-SS,P (..4A. Seconded by: l.�J��tSS IOiJ_V v�
Vote:
Mayor Svechin Z(Yes) (No)
Vice Mayor Viscarra (Yes) (No)
Commissioner Joseph P(Yes)
Yes) (No)
Commissioner Lama Yes) (No)
Commissioner Stuyvesant (No)
@ BC L@7815016 D
Page 3 of 3
80
Shubin Law Group
PROFESSIONAL ASSOCIATION
March 11, 2026
Amy Canales, Planning and Zoning Director
City of Sunny Isles Beach
18070 Collins Avenue, 3rd Floor
Sunny Isles Beach, Florida 33160
Re: Letter of Intent - La Playa Beach Associates, LLC/18801 and 18805 Collins
Avenue - Application for Transfer of Development Rights Allocation
("Application")
Dear Amy:
On behalf of this firm's client, La Playa Beach Associates, LLC ("Applicant"), we
respectfully submit this Letter of Intent in support of the Application to allocate previously
approved Transfer of Development Rights ("TDR") to Phase II/North Tower of the phased
development site plan for the approximately 4.716-acre oceanfront property located at 18801 and
18805 Collins Avenue (the "Property").
As you are aware, the project site plan was originally approved by the City Commission
on November 19, 2015, through the adoption of Resolution No. 15-Z-156 and subsequently
amended through Resolutions 16-Z-158, 22-Z-189 and 25-Z-209 (the "Project"). In addition,
TDRs were approved as follows:
• Resolution 15-2497 (authorizing the public transfer of development rights in the
amount of 283,485 square feet and 119 dwelling units for the payment of
$35,435,625.00);
• Resolution 16-2511 (authorizing the donation from the City and transfer of 75,000
square feet (and 35 dwelling units) from the property known as the "Corner House"
property to the Property; and
• Resolution 17-2656 (reduced the amount of payment due for the purchase of TDRs
from $35,435,625.00 to $26,060,625.00).
Considering the phased nature of the Project and the Applicant's development and
financing objectives, in 2025 the Property was divided into two separate folios and a Declaration
of Restrictive Covenants in Lieu of Unity of Title was approved by the City and recorded in the
public records. In addition, ownership will be separated into two separate entities with La Playa
Beach Associates, LLC owning the Phase I/South Tower portion of the Property and La Playa 2,
LLC, owning the Phase II/North Tower portion of the Property. Since Resolution 15-2497 only
authorized the transfer of TDRs to the La Playa Beach Associates, LLC entity, Applicant is
requesting the transfer of 58 Project TDRs and 137,977.26 sqft. from La Playa Beach Associates,
WEST PALM BEACH MIAIM I TunaHa
525 Okeechobee Blvd .41680 100 Southeast 2nd Street 4020 1001 Water Street 610
West Palm Beach, FL 33401 Miami. FL 33131 Tampa, FL 33602
81
Shubinlawgroup.com I Tel (305) 381-6060 1 Fax (305) 381-9457
Page 2 of 2
LLC (Phase I/South Tower) to La Playa 2, LLC (Phase 2/North Tower), with a TDR value of
$17,247,158.
As always, should you have any questions, please don't hesitate to contact us.
Sincerely,
Ian E. DeMello
For the firm
cc: Stan Morris, City Manager
Shubin Law Group Shubinlawgioup.com I Tel (305) 381-6060 1 Fax (305) 381-9457
PROFESSIONAL ASSOCIATION 82
PLO
City of Sunny Isles Beach
18070 Collins Avenue
Sunny Isles Beach, Florida 33160
(305) 947-0606 City Hall
(305) 949-3113 Fax
MEMORANDUM
TO: Honorable Mayor and City Commissioners
VIA: Stan Morris, City Manager
FROM: Amy Canales, Planning and Zoning Director
DATE: March 19, 2026
RE: Approving Transfer of Transferable Development Rights (TDRs) from La Playa
Beach Associates, LLC to La Playa 2, LLC for the St. Regis Development
Project
RECOMMENDATION:
This application is consistent with the City's Land Development Regulations.
REASONS:
In November 2015, the City Commission approved a site plan for the La Playa Varadero development
project located at 18801 Collins Avenue (now known as the St. Regis Residences) via resolution 15-Z-
156. The project is a dual tower development, which will be completed in phases. In connection with
site plan approval, the City Commission authorized the transfer of Transferable Development Rights
(TDRs) from the City's TDR bankto La Playa Beach Associates, LLC in the amount of 283,485 square feet
of floor area and 119 dwelling units via resolution 2015-249.
Due to the phased nature of the project, the property was subsequently divided into two separate folios
in 2025, resulting in addresses at 18801 Collins Avenue (Phase I/South Tower) and 18805 Collins Avenue
(Phase II/North Tower). Each phase will be owned by separate legal entities. La Playa Beach Associates,
LLC will retain ownership of the Phase I/South Tower portion, while La Playa 2, LLC will own the Phase
II/North Tower portion. Because the original TDR allocation was approved for La Playa Beach
Associates, LLC for the entire project site, a proportional transfer of TDRs is necessary to assign the
appropriate development rights to the Phase II/North Tower entity, La Playa 2, LLC and must be
Item Number: 9.0
ff-
authorized by the City Commission.
The proposedresolution authorizes the transfer of TDRs from La Playa Beach Associates, LLC to La
Playa 2, LLC in the amount of 137,977.26 square feet of floor area and 58 dwelling units, representing a
total TDR value of$17,247,158.00. Pursuant to the City's Land Development Regulations, La Playa 2,
LLC will be required to provide the City with a promissory note for the payment of the TDRs not paid in
kind, under terms and conditions approved by the City Commission.
ATTACHMENTS:
Resolution
Letter of Intent
Item Number: 9.0
77