Miami voters voted yes on two separate items on the ballot yesterday relating to Watson Island, paving the way for new development.
The two separate ballot questions were:
Charter Amendment: Partial Conveyance for Revised Development at 1111 Parrot Jungle Trail on Watson Island
Shall Miami’s Charter be amended authorizing sale and/or lease of 5.4 acres on Watson Island based upon fair market value of $135,000,000 to Ecoresiliency Miami LLC for residential and commercial uses pursuant to applicable zoning, waiving bidding, and requiring:
- Returning 13 acres to City to construct new public waterfront park at no cost to City;
- Cancelling existing theme park and hotel lease; and
- Contributing $15,000,000 for affordable housing, infrastructure, and other public benefits?
Charter Amendment to Revise Mixed-Use Leases on Watson Island
Shall City Charter be amended to revise existing leases at 888 MacArthur Causeway, sell 3.2 acres of leased property to tenant for fair market value of not less than $25,000,000, reduce overall development, extend term 24 years, waive bidding and authorize, at no cost to City:
- $9,000,000 contribution to affordable housing plus infrastructure improvements;
- Timeshare units become condominiums;
- Mixed-uses to include office; and
- Expanded public waterfront and pedestrian promenade along Biscayne Bay?
Nearly 59% of voters were in favor of the Jungle Island question, while nearly 62% voted yes to the 888 MacArthur Causeway (Island Gardens) item.
The developers of the Jungle Island parcel are planning two 40-story towers with between 500 and 600 residential units.
On the south side at 888 MacArthur Causeway, developers are planning a 30-story lifestyle hotel with 350 rooms, and a 40-story tower with 105 condos and 150 hotel rooms. There will also be office and retail space.
