Suit was filed one day after commissioners declared the developer in default of a 99-year ground lease

Flagstone Property Group has filed $122 million lawsuit against the city of Miami. The suit was filed one day after commissioners unanimously declared the developer in default of a 99-year ground lease that would allow Flagstone to build its luxury hotel and marina complex, and claims the city breached agreements with the developer causing them to lose millions in investments, according to the Miami Herald.

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