By a slim margin, city
voters rejected Terra’s proposal to redevelop the Miami
Beach Marina, replacing a commercial building anchored by
Monty’s Sunset with a 38-story luxury condo tower.
According to the final vote tally, 51 percent of Miami
Beach’s electorate voted no on a ballot question asking
residents to sell the air rights above the retail complex to
Terra, which partnered with the marina’s operator Suntex on
its proposal. Roughly 48 percent of voters said yes.
In a separate ballot question, Terra and Suntex managed to
convince voters to approve their long-term lease to operate
and upgrade the marina, but the redevelopment of the
building is dead in the water.
Terra President David Martin had dangled $55 million to buy
the air rights from the city, but grassroots opponents of
the project claimed the value of the air rights was worth
more than the developer’s offer, and protested that the
agreement was made without a competitive bid process.
Opponents also objected to the city awarding a key parcel of
public waterfront land for another condo development. Miami
Beach Marina and the Monty’s site are at 300 to 400 Alton
Road in the city’s South-of-Fifth neighborhood.
In a written statement, Martin did not address losing the
air rights vote, and he still claimed victory.
“The results of yesterday’s vote make it clear that Miami
Beach voters support our vision for a revitalized Miami
Beach Marina alongside a package of community benefits and
resiliency improvements to develop a ‘world class’ marina,”
Martin said. “Our team will now work with the city to
determine the path forward.”
Andrea Spiridonakos, a Miami Beach resident who founded the
grassroots opposition group Save Monty’s, said Miami Beach
voters saw through the slick campaigning put out by Terra
and the city’s elected officials, who stumped for the
developer’s proposal. “It wasn’t easy,” Spiridonakos said.
“We fought against mega-money, the mayor and every elected
politician.”
Voters did not want the city to sell a vital slice of public
land to a private developer, she added. “It’s the last piece
of public waterfront property in South Beach,” Spiridonakos
said. “People hold it dear in their hearts.”
Martin once again turned to Bjarke Ingels Group, which
designed Terra’s Grove at Grand Bay condo towers in Coconut
Grove, to design the proposed 385-foot tower to replace the
Monty’s building, which would have been demolished. The new
building would have included about 60 condos totaling
275,000 square feet, as well as 45,000 square feet of
retail, restaurant, office and marina space, and a 1-acre
park.
The city originally entered into a lease in 1983 with the
previous marina operator. That lease was supposed to expire
in 2022. Now, Terra and Suntex will have a new 99-year
lease.
Despite the election loss, Terra is building a lasting
imprint in Miami Beach. The Coconut Grove-based developer is
partnering with Crescent Heights to develop the Canopy Club
and Canopy Park, a luxury condo project and a community park
previously known as the 500 Alton development and later Park
on Fifth. Martin is also teaming up with Turnberry
Associates’ Jackie Soffer to develop the 800-room Miami
Beach Convention Center hotel, which will be under the Grand
Hyatt flag.