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The price was not officially disclosed but people familiar with the deal stated it was more than $400 million and less than $500 million, with some sources saying the price was roughly $450 million.

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The purpose of the 10- to 15-year redevelopment is to better use county-owned lands and meet community needs.

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A member of church filed a complaint in October and won a preliminary battle last week before the Presbytery of Tropical Florida, the overseeing body of the church at 609 Brickell Ave.

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Crescent Heights would double the size of its assemblage with the acquisition of the school board’s 1.1-acre lot.

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Feeding into a record-breaking in demand real estate market, multifamily developers have enough work in the pipeline to last into 2024.