Privé Developers, which is led by Gary Cohen and BH3, has secured a full vertical building permit for luxury condominium complex Privé at Island Estates in Aventura, Florida, US.
The permit allows the much litigated project to rise on the exclusive eight-acre private island located in Dumfoundling Bay between Williams Island and Sunny Isles Beach.
The complex will comprise twin luxury towers and design and architecture, which will be provided by Sieger Suarez Architectural Partnership, with EGS2 responsible for landscape architecture, and Interiors by Steven G. Privé appointed for the interior designing.
The developers started construction works for the project in June, and have since moved ahead to the second level of construction after laying the foundations for the development.
BH3 developer Greg Freedman said: "This permit marks another milestone in our continued progress of the project in line with the schedule of the project for completion in Q2 of 2017.
"Our team is elated to watch the towers start to rise, an incredible feeling to see our vision for this unique and singular project become a reality."
Suffolk Construction is the bonded general contractor for the luxury real estate project, which will offer 160 ultra-luxury residences in multiple sizes, ranging from 2,585ft² to more than 9,000ft² in select penthouse units.
The residences will have private elevator entries, flow-through floor plans with 10ft glass on both eastern and western exposures, 10ft deep balconies, expansive east/west water views throughout, European kitchens and bathrooms along with outdoor summer kitchens.
The developers have also planned to include a 10,000ft² gym and spa in each tower, along with private dining, pool-side café, a marina, private pier, nature trail, private beach, and jogging path, as well as 24-hour gated and roving security for the privately bridged island.
A $25m loan has been secured for the project by the developers from the New York-based Maxim Credit Group last month to continue with the construction works.
Image: Prive at Island Estates receives full vertical building permit. Photo: courtesy of Prive Developers, LLC.