Bal Habour council members will decide Tuesday whether to allow a luxury high-rise condominium development on the old Bal Harbour Club site.

The Village Council will vote on whether to give final approval for allowing construction on the Consultatio, a development of 260 condos with some business space, including an upscale restaurant.

Consultatio, the development and financial firm owned by Argentine businessman Eduardo Constantini, bought the 51/2-acre property at 10201 Collins Ave. last year for $220 million. It is south of the Plaza of Bal Harbour and north of the Kenilworth Condominium.

The 28-story building development also promises to maintain and provide beach access for village residents and their guests. The building could take up to a year to start construction and is anticipated to take three years to construct said interim village manager Jay Smith.

The issues before approving the project are open space, building size and the terms of the development agreement, which could include a $1.9 million payment to the city.

“The development agreement has not yet been finalized. The $1.9 million was a part of the agreement,” said Smith.

Councilwoman Patricia Cohen said the project is great for the village.

“The project is beautiful,” she said at a past meeting. “It will be a beautiful attraction.”

At least one council member is concerned the project doesn’t provide public green space.

“Some of the green space is not available to the public and it bothers me,” said Councilman Martin Packer at a past meeting.

But Mayor Jean Rosenfield said she would welcome the project to the village with open arms.

“The majority of the people who live in condominiums are happy with the space in their condominiums,” she said.

The meeting will take place at 5 p.m. Tuesday at the Sea View Hotel, 9909 Collins Ave.