Miami Worldcenter developer Art Falcone has settled a long-running lawsuit with real estate super-broker and investor Edie Laquer.
In 2008, Laquer filed suit against Falcone, saying the developer had cut her out of a partnership in the massive, mixed-use project after she had invested $1.6 million and acquired a 10 percent stake. Falcone has previously denied those charges.
Terms of the settlement are confidential.
The $1.7 billion Worldcenter development — which will bring a 765,000-square-foot mall mall, a 60-story condo tower and an apartment building to downtown’s Park West district near Overtown — is scheduled to break ground later this year, although the project’s public subsidies have come under heavy criticism from labor groups and union activists.
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“On behalf of our development team, I’d like to thank Edie for sharing her vision for the redevelopment of Park West and for the role she has played in the planning of Miami Worldcenter. I am pleased that we have resolved the business matters between us and delighted that Miami Worldcenter is moving forward,” Falcone said in a statement.