Victor Posner Heir Pays Hallandale $100,000 for Second Condo Project Extension

MIAMI-Steven Posner, son of the late legendary corporate raider and billionaire real estate investor Victor Posner, is paying Hallandale, FL a $100,000 fee for a second development extension on a planned 1,350-unit condominium venture, 10 miles north of Downtown Miami.

The project, being developed by Steven Posner’s Oceanfront LLC company, was supposed to have broken ground in 1995 when Victor Posner won a 1971-filed lawsuit against the Broward County city. Victor Posner fought and won the right to build a 1,500-unit condo community.

But repeated ground-breaking delays over the past seven years shelved the project, causing property tax and other revenue-loss problems for Hallandale, city manager Charity Pape tells GlobeSt.com.