Colliers International South Florida broker Mitash Kripalani in Miami. (Photo: Courtesy Photo)

Miami-born technology entrepreneur David Centner, who has returned to the city after several successful commercial ventures, and his wife, Leila, have been quietly assembling land in Miami's booming Edgewater neighborhood.

DLC Capital Management LLC has made at least three property purchases in Edgewater since September. David Centner's LinkedIn page identifies him as chairman of the company.

Most recently, it bought a vacant quarter acre for $3 million on the northeast corner of Northeast 29th Terrace and Fourth Avenue on June 11, bringing its total holdings nearby to 1.4 acres. The company previously purchased 1.17 vacant acres to the south on the southeast corner of 29th Terrace and Fourth Avenue for $13.65 million in May.

Farther north, DLC last September bought a 37,000-square-foot site southwest of Biscayne Boulevard and Northeast 34th Street for $11.5 million. An office building is on one of the six lots, and the rest are vacant.

David Centner created and sold at least three companies in New York. In 2002, he launched Highway Toll Administration LLC, a vehicle toll processing company, and last year sold it to investment firm Platinum Equity.

The Centners opened the Centner Academy preschool in Miami's Design District and have been making charitable contributions, including a $2 million donation to open a culinary center at  Lotus House Women's Shelter, according to an interview with David Centner published on SocialMiami.com.

The Centners declined to comment for this story.

Exactly what they will develop on their 1.4-acre Edgewater assemblage remains unknown.

A mixed-use project with apartments, condominiums or both is likely, according to a Colliers International broker who closed both sales.

Development regulations allow up to 208 residential units across DLC's holdings. The residential units could all go on the bigger parcel and leave the smaller one for parking or amenities, said Mitash Kripalani, a director of investment services at Colliers International South Florida in Miami.

As an alternative, DLC could develop a hotel with up to about 416 units. Generally, the allowed number of hotel rooms is double the number of allowed residential units.

A residential-hotel mix is another option. Current zoning allows towers up to 36 stories.

If DLC offers public benefits to the city, it could build 1 million square feet, or 16.8 times more than the square footage of its assemblage with 60-floor towers.

The latest two-lot purchase covering 2939 NE Fourth Ave. and 412 NE 30th St. closed June 11. The previous 10-lot purchase immediately to the south closed May 20.

The Edgewater neighborhood stretching from Biscayne Bay to the Florida East Coast Railway tracks and from Northeast 17th Street to Interstate 195 has been undergoing intense redevelopment in recent years.

High-rise residential towers have been replacing single-family homes and small apartment buildings, which represent an eclectic collection of architectural styles.

New projects include The Related Group's four-tower Paraiso condo complex on the bay between 30th Terrace and 32nd Street.

OKO Group LLC, led by Russian-born billionaire Vladislav Doronin, is developing the 57-story,  249-unit Missoni Baia condo tower on the bay at 26th Street.

Colliers' Kripalani represented the sellers in the latest DLC transactions. 4th Ave Edgewater LLC sold the quarter-acre property, and AR Edgewater Investments LLC sold the 1.17-acre property.

Both sellers assembled the land with a plan for development but opted to sell, Kripalani said.

Kripalani worked with Colliers executive managing director of investment services Gerard Yetming, financial analyst Julian Zuniga and associate Virgilio Fernandez, all based in Miami, to close both sales.

Rena Kliot, the owner of Pulse International Realty, represented the affiliates DLC Capital used to buy each property. Pulse International has offices in Miami Beach and New York.

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