The developers pitched tents and served meals to the crowds. The Related Group of Florida is the project's developer. "We anticipated crowds but were surprised by the overwhelming response and strong turnout," says John Chappelear, a senior vice president with the Related Group and the project manager for The Venture. "Buyers are eager to have the opportunity to live in a new type of urban setting."

Buyers were invited to buy residences for as low as $139,900 for a one-bedroom unit. Related Cervera Realty Services is handling sales for the project, to be located just east of Biscayne Boulevard at Northeast 187th Street and 29th Avenue.

The Venture's 500 units will be located in two mid-rise buildings joined by courtyards. The project also will include 18,000 sf of ground-floor retail space. Prices of the residences range from $139,900 for one-bedroom homes, $189,900 for two-bedroom homes and $279,900 for three-bedroom residences.