Miami, FL (PRWEB) June 04, 2014
The Club at Brickell Bay Plaza, a 43-story residential high-rise located in Miamis Brickell financial district, walked away with a Comeback Kid award during the 2014 Florida Communities of Excellence, held on Friday, May 2 in Orlando, FL.
These annual awards serve as a recognition program to shine a spotlight on positive and productive initiatives that condominiums, homeowners associations and cooperatives statewide have implemented. The Comeback Kid award is presented to communities whose boards and managers have developed successful turnaround programs to revitalize distressed properties, and is a nod to the board and management of The Club at Brickell Bay for its efforts in revamping their troubled community.
For years, The Club at Brickell Bay Plaza was reputed as an epicenter for real estate speculators seeking large returns quickly in the Brickell area. The ensuing mortgage crisis caused the community to rapidly decline as over a third of these speculators abandoned their units, and it experienced a slew of financial and legal challenges. In 2012, The Club at Brickell Bays Board of Directors teamed up with FirstService Residential its then new property management company to assist in setting the communitys affairs in order.
