A bunch of New Yorkers now possess the site on the edge of the Design District where the Holy Cross Episcopal Church once stood.Terra Group co-founder David Martin told Curbed Miami an entity controlled by his company sold its stake in the 1.4-acre vacant lot to the investors for an undisclosed sum. Terra Group previously announced plans to develop The District 36, a place for Design District furniture showroom expats. Martin disputed how exMiami portrayed the sale, namely that his company had lost in a bid for the property. The New Yorkers plan to develop a mixed-use space and Terra has shelved plans for The District 36, Martin added, despite the District 36 banners that still drape the property's barbed-wire fence. [SFBJ; Previous]
UPDATE: A previous version of this post reported that Holy Cross lost the property in a $33 million foreclosure case. In fact, that was a separate case that had nothing to do with Holy Cross. We regret the error.