Metropica has been pegged as a “city within a city” in western Broward County, a development that plans to span over 4 million square feet with more than 2,250 residential units overlooking the Florida Everglades.
But now, more than five years after launching sales for the first condo building at 2000 Metropica Way in Sunrise, called One Metropica, one couple is suing the development group over delays.
The buyers, Alvaro Juan Llosa and Olga Llosa, allege the unit was supposed to be completed by November 2019 under the terms of their contract and are seeking a refund of their $151,250 deposit, according to the complaint.
The Llosas put their deposit down for a $605,000 condo in the 28-story, 263-unit building in 2015, according to the suit. The couple wanted to be close to their grandchildren before “friends and cellphones become more of a priority,” the lawsuit alleges.
The couple alleges the contract requires that the unit be completed and delivered within three years after the estimated completion date of November 2016. So far, the building has not been completed.
Joseph Kavana of K Group Holdings, who is spearheading development of Metropica, called the lawsuit “groundless.”
“We are within the contract terms. We had some delays as it happens in any project,” Kavana said.
The lawsuit alleges that in August of last year, the development group said an electrical system serving multiple floors of the building sustained water damage and needed to be repaired.
In November 2019, the buyer’s attorney sent a notice of default to Metropica’s attorneys.
Kavana said the contract allows for the development group to have more time to complete the project if it runs into issues. He said the delays were caused mainly by infrastructure issues and also that its construction company and some subcontractors couldn’t deliver on time.
The project should receive its temporary certificate of occupancy by March, according to Kavana.
The Llosas want their deposit returned with earned interest. They are alleging breach of contract, unjust enrichment, and are seeking declaratory action.
In all, Metropica is $1.5 billion development that will include up to 485,000 square feet of retail space, 650,000 square feet of Class A office space, and public spaces in addition to the residential portion.
With units starting in the $450,000s, One Metropica is about 75 percent presold and the development group, according to Kavana.
On Collaborative by Coldwell Banker was tapped to take over sales and marketing of the building about a year ago, but Kavana recently brought sales in house. Kavana said the group is not planning to offer any incentives or discounts on remaining units to lure in buyers.
Next, the developer plans to launch sales for the second luxury residential tower this spring. Kavana hopes to complete the retail space by 2022. Construction will begin on 165,000 square feet of office space and a multifamily project in 2020.
Kavana is also seeking to fill the place of one major tenant, iPic after the movie theatre company declared bankruptcy in August. He said the group is in talks with two other movie theater companies to take its spot.