Miami Beach Condo Association Has Very Creative Idea for Project Funding.

A Miami Beach Condominium who has been unable to obtain a loan or grant for building restoration, and with little hope of gaining funds any other way, looks to Corporate America for assistance to restore their beautiful building, in an imaginative way.

Located on busy Collins Avenue and built in 1940 as the Lord Baltimore Hotel, this beautiful example of art deco architecture has undergone a long history. During World War II the building was used to house troops, and later become "La Playa" apartment building in the 1960's. In 2003 at the peak of the South Beach real estate boom it was converted to a Condominium Association.

Soon thereafter, in 2005 the City of Miami Beach issued the Association a violation to repair exterior concrete throughout the building. The Board passed a special assessment on the 32 units, and work began. Once the selected contractor had commenced work, additional extensive damage was discovered which had been unanticipated. The Board passed a second special assessment, and the work continued. However, in December 2008 the Associations funds ran out, the contractor ceased work, and the building was left looking like a gray shadow of its former glory.

The Board of Directors, unable to get a loan or grant, and with little hope of gaining funds from another special assessment, decided that the only way to get this project completed was to seek assistance from a corporation

The Board of Directors, unable to get a loan or grant, and with little hope of gaining funds from another special assessment, decided that the only way to get this project completed was to seek assistance from a corporation willing to fund the project, paying off the debt to the contractor, and completing the job.This is estimated to cost close to $250,000. "With its prime location, the building would be a great space to wrap with advertising (subject to city approval) in return for the funds and it would be great PR as a community project for any company willing to take up this unique opportunity. The tower on the north east corner of the building would make the perfect setting for a beverage company to advertise, " says Anthony Parker, President of the Board. "I love this neighborhood, this is my home and it's just such a shame that we can't get it back in the shape it should be; I worry constantly that we will lose it all if we can't get the funding to fix this."

He advised that the Board has considered several creative ideas and are currently willing to rename the building, wrap the building with advertising, or do whatever else it takes to get this project completed and their beautiful building back to the South Beach gem it once was.

For more information or to assist this community please contact Anthony Parker at 305-534-1212 or antparker@msn.com