Construction might finally start for this project. 13 years after its approval. Deadline is looming, and construction may start in June.
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Massive Watson Island development moves forward
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Nearly 13 years after being initially approved by the City of Miami, the $640 million Island Gardens mixed-use project on Watson Island is a few months from getting underway.
Flagstone Property Group’s long-discussed development is on track for a summer groundbreaking, Miami Today reported. The company gained momentum for the project last month by luring the Yacht & Brokerage Show to set up a location there. Once the development is finished, its Deep Harbour marina would host the annual show’s “Superyacht Miami” event, with mega-yachts exceeding 150 feet in length on display.
Island Gardens plans include a five-star hotel, four-star lifestyle hotel, fractional ownership residences and retail and restaurant space on 6.5 acres owned by the city.
Flagstone consultant Brian May told Miami Today the project’s financing is “coming together nicely.”
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Deadline looms for massive Watson Island project
May 07, 2014
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Flagstone Property Group must start construction on the long-delayed Island Gardens development by June 2, as required by the company’s latest lease extension.
But Flagstone has a hurdle to clear before the $640 million project planned for Miami’s Watson Island can begin. State officials have to sign off on the latest version of the company’s agreement with the City of Miami.
The state gave the island to the city many years ago. Its 2011 approval of modifications to the uses allowed on the land expired in January 2012, according to Miami Today.
City commissioners are expected to address the project’s status during their Thursday meeting.
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http://therealdeal.com/miami/blog/2014/03/12/massive-watson-island-development-moves-forward/
http://therealdeal.com/miami/blog/2014/05/07/deadline-looms-for-massive-watson-island-project/
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Source: All renderings from;
http://www.huffingtonpost.com/2013/01/03...sland-miami_n_2402603.html#slide=1939804
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