As a public notice recently published in The Miami Herald announced, part of the discussion at the November 17 public hearing to be held by Sunny Isles Beach City Commission will center around a proposal for a new condo tower. The tower, proposed by Porsche Design Residences, may end up taking the 2.2 acres where the Golden Nugget Beach Club & Hotel currently stands, in Northeast Miami-Dade County.

According to recent reports from CondoVultures.com, the plans for the Porsche Design Residences project were released soon after plans for three other oceanfront condo towers were proposed for Sunny Isles Beach. These proposals contribute to the 13 total towers being built as part of the new South Florida condo trend. The total number of new units to the area will come close to 3,500.

The Porsche Design project will include 132 units and more than 50,000 square feet of space. The tower will be developed by Dezer Properties as well as Porsche Design. Dezer has already made a name for itself with six other condo towers in the Sunny Isles Beach area. For Porsche Design, however, this condo development will be the first in South Florida.

27 condo projects with nearly 6,700 units have been constructed in the Sunny Isles Beach market since 2003. In total, the South Florida condo boom has generated around $4.1 billion in developer sales of new units, says CondoVultures.com.

Sunny Isles Beach, about a 40-block stretch from Golden Beach, is separated into three different neighborhoods: North, South and Central. With the current pace of 45 new condo transactions being made every month, it is likely that all unsold existing developer units will be absorbed by the end of 2012.