Island Gardens
Update
04/20/23
New Team of Developers Acquire 10.7 Acres of Watson Island
Two Miami-based real estate firms have partnered up and have acquired the lease and development rights to 10.7 acres of land on Watson Island. The financial affairs have not been disclosed but the acquisition is valued at around $50 million.
The previous owner has already been given approval for the site plan to feature a total of 450 rooms in two hotel towers, over 350,000 square feet of retail space, and a waterfront promenade are all included. The new team plans to stay “within the same footprint and density allowances that voters previously approved" but they will be updated and in line with the marketplace in the upcoming months. The developers will hold onto the property for 75 years after the vertical building begins.
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