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Aug 6, 2015

South Florida Real Estate Developer, Verzasca Group, Wins City Approval for Its Aurora Project

Aurora will be first new condo development on West side of Collins Avenue in over a decade
Aurora will be first new condo development on West side of Collins Avenue in over a decade

Miami, FL — August 06, 2015 – Verzasca Group, a privately held, South Florida-based real estate development firm, announced today it has received city approval for its Sunny Isles Beach project, Aurora. The mixed-use building will be the first new condo development on the West side of Collins Avenue in more than 10 years.

“We are thrilled to have gained approval from the city and owe tremendous gratitude to our Greenberg Traurig legal team for helping us through the process,” said Darius Kasparaitis, President of Verzasca Group. “With all of our developments, we aim to bring luxury and comfort to our residents and Aurora is no different. We designed the building to meet the growing demand for affordable luxury in a desirable area and we look forward to taking the next steps.”

Aurora will be a seventeen story, mixed-use tower with the top thirteen floors designated for residential, the ground floor for commercial and floors two and three designated for parking. The 61 two and three bedroom units will average 1,600sqft and will start in the low $600’s/sqft, consistent with the company’s mission of providing luxury housing at more affordable prices with majority of the units in the building coming in at under $1M. Additionally, the curvilinear balconies on every other floor bring an elegant sense of movement in design and offer all residents ocean views.

“Collins Avenue in Sunny Isles Beach divides areas of low-to-mid-rise density to the west and pronounced high-rise buildings to the east,” said Luis Revuelta, Principal at Revuelta Architecture. “From an urbanistic, as well as architectural standpoint, our project serves as the proper elegant transitional piece between these two opposing conditions.”

“The building’s main inspiration comes from the Atlantic Ocean and the beach across the street,” said Barbara Pederzoli, Project Manager at Revuelta Architecture. “Aurora incorporates a sculptural wall consisting of imaginative and symbolic wave-shape punctured panels inspired by the ocean waves. In this way architecture is tied to nature in a cohesive artistic piece visible from its surroundings.”

Real estate attorney Steve Bassin and land use attorney Ethan B. Wasserman with the Miami office of international law firm Greenberg Traurig played an integral role in winning the city’s approval of the Aurora Project.

“This favorable outcome was possible due to our client’s strong desire to address the community’s concerns and our ability to guide them through the governmental processes” said Bassin. “This is a shining example of how a developer, the city and the community can work together to move forward a project that will serve the needs of all stakeholders.”

“The Aurora project demonstrates the tremendous success that can be achieved when responsible developers work hard to respond to the needs of the community,” Wasserman said. “The Greenberg Traurig team is proud of our work in successfully coordinating the dialogue between the Sunny Isles Beach city commission, the planning department, the city attorney's office, and the local community to achieve a fantastic result.”

“Gaining approval is not only exciting for us, but for the neighborhood and residents as well. What we’re bringing to the community will enhance the way of life and will benefit the neighbors, which is very important to us as developers,” added Tim Lobanov, Managing Director at Verzasca Group. “We are adding a mikvah which will be a great addition for the Jewish community and we’re reducing car traffic on Collins, which benefits the whole community. With our Bay Harbor Islands projects set to get underway in September and Aurora officially approved, we are looking forward to the future and can’t wait to get started with what’s next.”

Verzasca Group plans to launch sales in the coming months and anticipates breaking ground shortly thereafter.