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Page 188

real estate

Miami Modern IRIS ON THE BAY IS A NEW AND AFFORDABLE WATERFRONT COMMUNITY OFFERING DIVERSITY OF DESIGN IN SINGLE-FAMILY TOWNHOMES.

By Linda Marx

Miami Beach home buyers are seeking alternatives to condominium living. Many are following trends for privacy and buying townhouses on the water. In Normandy Isle on North Beach, an unusual collection of 43 townhomes—22 in Phase one and 21 in Phase two—is being developed to give buyers a creative option when it comes to apartment living. According to Jeff Spear, president of The Spear Group, the real estate firm developing Iris on the Bay, young buyers today want modern architecture, their own property, and a genuine neighborhood backdrop so they feel comfortable raising their children in a safe yet stimulating environment. “Buyers are design-conscious, plus they want their own private residences, not FROM TOP: At Iris condominium units,” says Spear, a Cornell on the Bay, the pool University graduate, who completed a real faces Biscayne Bay; estate education program at Harvard after garden areas are beautiful moving his development company from and peaceful; interiors are

Boston to South Florida in 1976. “They ask for modern architecture. They like the pace of Normandy Isle. And they love North Beach, with its contemporary neighborhood design offering modern street lamps, benches and sidewalks.” Spear started developing Iris on the Bay in 2013 after the property had gone into foreclosure and was owned by a bank. He saw the market potential for a design-conscious yet still affordable single-family townhome community that would appeal to younger buyers seeking something different. The name, Iris on the Bay, was selected because the iris is the national flower of France, and Normandy Isle is a Frenchinspired neighborhood. It was a perfect fit. The developer has completed most of Phase One, closing on eight of the 22 townhomes with both American and foreign buyers from France and Mexico.

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AVENTURA MAGAZINE

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