MIAMI | Miami Beach Marina Towers | 400 FT X 2 | FLOORS

[chris08876]

Twin 400-Foot Condo Towers Proposed In South Of Fifth

Document: https://docs.com/the-next-miami/addc...660e7afd8/sofi

A developer wants to build a twin-tower project at the Miami Beach Marina, according to the Herald.

Four Seasons Surfside developer Fort Capital is proposing to pay the city $100 million for the development rights. In exchange, they would be granted air rights to build two 400-foot condo towers.

A total of 250 units are proposed. The waterfront units would command a high price in what is already among the most expensive neighborhoods in Miami, South of Fifth.

Also included in the redevelopment would be a one-acre park, 700 underground parking spaces, and restaurant space.

A voter referendum would be required, and lobbyists for the developer are pushing to get it on the November ballot. The funds would be used for the city’s proposed light rail system, which could help it pass.

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NXT

[chris08876]

Developer wants to give Beach $100M to redevelop marina

A major redevelopment of waterfront city-owned property in Miami Beach is brewing — a deal that would require voter approval in three referendum questions and could have significant impact on the city’s purse as officials consider selling development rights for $100 million.

At a time when development in the Beach has come under increasing scrutiny and public referendums for large-scale projects have failed, the deal will likely spark a lively public conversation that will weigh the benefits of the project against what the city is selling.

A developer wants to offer the city the money for the rights to build two 400-foot residential towers as part of an upgraded Miami Beach Marina that would include new restaurant concepts, a one-acre waterfront public park and 700 underground parking spaces.

That $100 million would go into a city fund for transportation that would help pay for a light rail system in South Beach — a high priority for City Hall.

The city would continue to own the land and negotiate a new lease with the marina, which is operated by RCI Group. The first two or three floors of the buildings would be city owned, and the city would sell the rights to develop about 250 residential units above that.

Three key aspects of any such deal would have to go to public referendum. A majority of Beach voters would be needed to approve:

▪ Terms of the ground lease

▪ Sale of the city’s “air rights,” or ability to develop above the marina

▪ Increase in the maximum floor-area ratio for the development, which is the formula for calculating allowable square footage

“It’s a project on a very valuable city asset,” said Carter McDowell, a land-use attorney who is representing the redevelopment team. He said the green space would allow people to take in bay views from a public space.

Fort Partners, the Miami-based real estate company behind the redevelopment of the Surf Club in Surfside, is the marina’s major partner on the deal. “Their approach is to go into neighborhoods and make them better,” said Jeffrey Bercow, another land-use attorney for the redevelopment team.

The proposal came to light Wednesday when Beach commissioners voted to refer a discussion on the item to a committee.

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http://www.miamiherald.com/news/loca...e77069582.html

[bobdreamz]

The views of the downtown skyline & Biscayne Bay would be spectacular ! However doesn't Miami Beach have a height limit of around 200 feet or so?

This doesn't bode well for this project :

Three key aspects of any such deal would have to go to public referendum. A majority of Beach voters would be needed to approve:

▪ Terms of the ground lease

▪ Sale of the city’s “air rights,” or ability to develop above the marina

▪ Increase in the maximum floor-area ratio for the development, which is the formula for calculating allowable square footage.

NIMBY's are going to kill this.

[chris08876]

Yeah I don't think this will end well. Remember 500 Alton? I think it was 400 or 500 feet. Suppose to be the tallest in M.beach and it was venomously denied.

[dave8721]

The latest referendum on the height increase for the convention center hotel was voted down as well.

[bobdreamz]

^ How high was that?

[dave8721]

Originally Posted by bobdreamz

^ How high was that?

This one, it was supposed to be 275 feet or something. Next door to the convention center, behind the Jackie Gleason/Fillmore if I remember correctly.

[dave8721]

South Beach residents mull the price of height in two proposed high-rise deals

Even though Miami Beach voters rejected the last two high-rise plans put before them, two developers are trying to see if they can get height limits lifted — for a price.

It might be very high. In new condo tower proposals, each has added an expensive incentive to sweeten the deal. One is offering to build a 30,000 square-foot transit hub at the base of a 300-foot condo tower. The other is willing to contribute $100 million toward a light rail system in South Beach in exchange for the rights to build two 400-foot residential towers at the city-owned marina.

The community is known for keeping a critical eye on all new development, with particular scrutiny aimed at size and square footage. These developers are banking on using public benefits to convince neighbors to look past these aspects. But will residents buy it?

Many residents are skeptical. They want to have more input, and some worry it could lead to more similar deals.

Read more here: http://www.miamiherald.com/news/loca...#storylink=cpy

[chris08876]

Hopefully the NIMBY cockroaches will approve of this plan. The incentives do sound good and these two high rises aren't in the realm of absurdity for the area. I could understand if it was a super tall but this shouldn't be a big deal for them.

[chris08876]

Seems like 500 Alton is back, just at 24 floors. Crescent heights being the developer.

If we recall, the original development was 50 floors.

We have an older thread in the canceled archives for it: http://forum.skyscraperpage.com/showthread.php?t=210316

Unfortunately, the cockroaches ruined that idea with their inane height limits and fear of change. Something will rise at that site, but nowhere near the 50 floor proposal that was nixed.

[chris08876]

Extra Rendering:



I don't think this is to tall for the area. I mean, just look at the towers to the left of it. NIMBYS be on that dust, and so, they think this looks 1000 feet tall. Smokey the Alcoholic Bear always tells kids to stay away from the wet!

[dave8721]

Originally Posted by chris08876

Extra Rendering:



I don't think this is to tall for the area. I mean, just look at the towers to the left of it. NIMBYS be on that dust, and so, they think this looks 1000 feet tall. Smokey the Alcoholic Bear always tells kids to stay away from the wet!

If that rendering panned to the right you would see that it is actually quite a bit shorter than the towers right at the South Point of the beach (Continuum Towers, Portofino...etc). I think 400 feet would make it the 5th or 6th tallest in the South of Fifth neigborhood. Icon is also about 400 feet.