Billionaires vs billionaires: Developers seek height increase for Aman tower, face opposition from Miami Beach neighbors

Billionaires vs billionaires
From left: Vlad Doronin, Len Blavatnik, Ken Griffin, Lloyd Blankfein, Jamie Dinan, and a rendering of the project (Getty, City of Miami Beach) Via www.therealdeal.com

A billionaire showdown could be brewing in Miami Beach. The billionaire developers of the planned Aman-branded tower in Miami Beach are seeking a height increase to 250 feet, and face opposition from billionaire neighbors at the Faena House next door.

A partnership between Len Blavatnik’s Access Industries and Vlad Doronin’s OKO Group proposes a 250-foot tall building in between the Versailles hotel building shell at 3425 Collins Avenue, and the 203-foot tall Faena House at 3315 Collins Avenue. The Aman project calls for a 56-key hotel and 23 luxury condos.

During Monday’s meeting, two-unit owners and a representative of another unit owner of Faena House spoke in “strong” opposition to the plans. Thomas Stern, who introduced himself as one of the 26 owners at Faena House who oppose the developer’s request, called it “a clear conflict” that Blavatnik is seeking the increase. Blavatnik is the financial backer behind the mixed-use Faena District, which he developed alongside Alan Faena.

“The developer keeps coming back for more height and variances,” said Stern, who is managing director at Chieftain Capital Management. “It’s very troubling the developer is on both sides here. No further height increases and variances should be granted.”

Katherine Kallergis 
Read full story: www.therealdeal.com

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