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New lead and staging arrangements revive stalled 7918 West Drive project, officials say

North Bay Village Financial Advisory Board · February 11, 2025
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Summary

Officials reported the stalled 7918 West Drive tower is being restructured under developer Vivian Diamond, liens are being resolved and Florida Power & Light vault work is the first critical path item; a nearby lot has been secured for staging and crews are expected to return when vault scheduling is set.

Commissioners updated the board on the stalled 7918 West Drive high‑rise. Officials said the Manila Corporation's initial developer halted progress after selling just one unit; Vivian Diamond has taken a lead role to resolve liens and relaunch the project. Staff said the developer has begun debt resolution work and has discussed needed changes to unit sizes and pricing to improve marketability.

"Her 1st job was to liquidate or try to liquidate as many other debts that the building had," a commission liaison said, describing Diamond's role. Staff added the project will need Florida Power & Light to complete a vault installation (a work item described as a roughly 20‑month task) and that a nearby lot has been secured for staging while the developer completes lien work. Officials said they are coordinating police traffic control and expect on‑site activity to resume once the vault and staging are in hand.