MIAMI—Privé Developers and BH3 Management, developers of Privé at Island Estates condominium project on an island in Aventura, have filed a $200 million lawsuit against the City of Aventura. The developers want to assure construction can begin on schedule and residences can be delivered to buyers on time, after recently inking $75 million in sales in 75 days.

“We had no choice but to go to court to have our development rights enforced— rights which we have had indisputably for 40 years,” says Gary Cohen, a principal of Privé. “Unfortunately, the kind of action we're taking is necessary and not uncommon when developing waterfront property in South Florida.”

Privé received approval from the City to construct a two-building, 16-story condominium community with 160 residences. It's located on an eight-acre island in the Intracoastal Waterway next to Williams Island.