on #2 (237)
• This is the LAST piece of waterfront property in all of South Beach and it’s ours – owned by City of Miami Beach
• Current Marina leaseholder paid $170 Million for 35 years
• New deal will have developer pay only $55 Million for 99 years?!
• LOW PRICE & BAD DEAL for Miami Beach residents!
• This Bad New Deal will lease our land and sell our sky for pennies on the dollar.
• This new deal is 1/2 the money previously offered to & rejected by the City! In an open bid, the Air Rights could be worth more than $200 Million
• This will add up to $ Billions $ in missed revenue opportunity for us and for the future generations of Miami Beach residents.
• The Marina has the right to CLOSE the “park” to the Public 12x a year for unlimited periods of time!
On #3 (239)
• The construction will take many years to complete (approx. 4 years)
• It will likely be several years until the City receives the money
• This development will ONLY give a maximum 261 recurring jobs, and that’s only IF the retail spaces are full!
• This will not help our city’s economy recover quickly post-Covid.
• Illegal Floor Area Ratio (FAR) increase without voter consent! City Charter requires any FAR increase (here, a 385 foot tall building) to be approved by voters. We DO NOT have this question! Instead, this deal “vacates” part of Alton Road to avoid asking voters to approve the massive FAR increase.
A BAD DEAL
Selling our sky for too little money! It’s a BAD DEAL for us residents.
PUBLIC land will become a PRIVATE high-rise condo.
Monty’s Sunset on SoBe will be demolished. No more live outdoor music allowed.