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Regency Development expands Bay Harbor Islands projects near Miami
The developer says it has four active residential projects on the island since 2020, including a 33-unit project, with pricing ranging from $2 million to $10 million.
Commercial Observer highlights Regency Development Group’s focus on Bay Harbor Islands, a coastal community near Surfside, Indian Creek, and Bal Harbour in Florida, noting that the town has a population of less than 6,000 but has become a target for the developer since 2020.
The outlet says Regency has four active projects on the island, including the 33-unit La Maré, the nine-unit La Maré Signature, and the 20-unit Bay Harbor Villas, and that the company has worked closely with local governments to secure approvals and ensure the projects fit the neighborhood.
In an interview with Commercial Observer, Michael Troyanovsky, managing partner and vice president at the family company, said Bay Harbor Islands was initially overlooked compared with other Miami area hot spots, but has increasingly attracted attention over time.
Troyanovsky added that demand has centered on buyers seeking boutique, private living, ranging from people moving from single-family homes to residents looking to leave larger, 150 to 200-unit condo buildings, and he said prices are generally $2 million to $10 million.