A Florida developer is suing Miami residents after being ordered to make $61 million in repairs to a waterfront condo building it tried to demolish. TRD Biscayne LLC, a subsidiary of Two Roads Development, filed suit in Miami-Dade Circuit Court seeking to dissolve the building’s condominium association, arguing restoration is no longer financially feasible.

Last month, a state judge ordered the developer to restore Biscayne 21 to habitable condition after it was gutted during a yearslong legal fight. The company owns 183 of the building’s 192 units and is asking the court to force holdout owners to accept buyout offers under Florida’s “economic termination” law. Two Roads managing partner Taylor Collins maintains that decades of deferred maintenance make restoration economically impractical.

Residents have countersued, seeking at least $100 million in damages from banks and companies involved in the attempted takeover. The dispute stems from Two Roads’ 2022 attempt to purchase all units and replace the 1964 tower with luxury condos. Eight owners refused to sell, citing inadequate compensation for waterfront properties. A lower court initially sided with the developer, allowing it to begin stripping the building, but higher courts ultimately ruled the termination violated owners’ voting rights.