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AVENTURA, FL-The Related Group of Florida is planning to develop The Venture, a mixed-use project that will include 500 condominium residences, in the city. The Venture will be the first phase of an approved conceptual site plan for the redevelopment of a town center.

The project will be located on the site of Loehmann’s Fashion Island at Biscayne Boulevard and 187th Avenue. Construction is expected to commence in the spring of 2004.

Phase one will consist of 500 units in two mid-rise buildings joined by courtyards with full amenities and a parking garage. In addition, the first phase will include 18,000 sf of ground-floor retail space. Prices of the residences are anticipated to range from $139,900 for one-bedroom homes to $189,900 for two-bedroom homes and $279,900 for three-bedroom residences.

“This development will bring urban living to the city,” says John Chappelear, senior vice president of the Related Group. “As part of the new town center, The Venture will serve as the city’s centerpiece and will reflect the upscale lifestyle that has become a trademark in Aventura.”

“We are developing a trendy urban village with a focus on attainable luxury,” Chappelear adds. “With pre-construction prices that are unheard of, buyers need to obtain their invitation now to get in on this limited-time offer.”

The Venture was designed by the architectural firm Arquitectonica. The development will feature new urban design and be pedestrian friendly. Amenities will include three pools, a Jacuzzi, a fitness center, a spa, a business center, cyber lounges, a club room, and valet and concierge services.

Related Cervera Realty Services is handling sales for the project.

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