Miami Beach Marina deal dangles $50 million air rights carrot
Written by Gabriel Poblete on April 21, 2020
Miami Beach’s lease agreement of the city’s marina at 300 Alton Road is nearing an end, and commissioners are being presented an option to revamp the marina and add green space for the community on the uplands area.
At last week’s virtual Finance and Economic Resiliency Committee meeting, several commissioners heard from Terra Group President and co-founder David Martin, who in partnership with marina operator Suntex is proposing $35 million in marina improvements over 30 years and a one-acre marina park. The 225-foot maximum height development would also consist of a 60-unit residential tower with about 275,000 gross square feet.
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