Miami Voters to Decide Fate of Watson Island Projects
City land to be sold to developers for condos, hotels, waterfront park.
Miami voters will decide whether developers can buy city-owned land for two projects on Watson Island in Biscayne Bay.
The 86-acre, man-made island, which is bisected by the MacArthur Causeway connecting Downtown Miami and South Beach, is known primarily as the home of Jungle Island, an 18-acre tropical theme park.
The owner of Jungle Island, Aventura-based ESJ Capital, is partnering with Coconut Grove-based Terra Group on a redevelopment proposal involving the northwestern tip of Watson Island.
The joint venture, known as Ecoresiliency Miami LLC, wants to buy 5.4 acres of city land for $135M for a twin-tower condo project. The partners also will develop a 13.3-acre waterfront park.
On Watson Island’s south side, Fort Lauderdale-based developers Merrimac Ventures and BH3 Management are planning to build a 10.8-acre project that will include two hotels, offices, retail and restaurant space as well as residences in exchange for a $9M investment in affordable housing and the creation of a 2.2-acre waterfront promenade.
Miami city commissioners approved two resolutions this month creating ballot measures asking residents to approve the projects.
Ecoresiliency’s condo project, which would be the first of its kind on Watson Island, features two towers, each encompassing 300 units. Zoning for the site allows for a maximum of 20 stories.
According to a rendering that was presented to the Miami Climate Resilience Committee this month, the new waterfront park on the west side of the development features a winding raised canopy “bio-walk” surrounded by trees, leading to a climate center.
The two condo towers, in proximity to the Miami Yacht Club, will be connected by plazas. Earlier this year, ESJ failed to gain approval for a 300-room themed hotel on the property, the Miami Herald reported.
Merrimac and BH3, which both assumed the lease for the property at 888 MacArthur Causeway last year, are proposing to buy 3.2 acres from the city at fair market value or at least $25M, the report said.
The ballot question for their project would allow the developers to build 100 condos on the site. The mixed-use project would include a new seawall and stormwater management infrastructure upgrades.
Merrimac Ventures is a master developer of Miami Worldcenter, a 27-acre master-planned development in Downtown Miami.