Just days after we reported on Terra Group proposed 385’ Bjarke Ingels-designed tower at 300 Alton Road in Miami Beach’s South of Fifth neighborhood, voters have denied the sale of a parcel of land and air rights necessary to develop the project. Terra Group had offered $55 million for .3 acres and the air rights at 300 Alton Road but local opposition held that the offer was too low and Miami Beach is already too dense. Despite this the Miami Beach Chamber of Commerce and Ocean Drive Improvement Association supported the proposal. The sale of the .3-acre site and air rights was voted down by a 51.1% to 48.9% margin; although voters approved the long term lease on the city owned marina and management to Suntex by a margin of 52.4% to 47.6%.
“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. Our team will now work with the City to determine the path forward,” said David Martin, President of Terra Group.
The project, which would have been called Marina Park, would rise 30-stories and would feature 60 luxury residential units which would be sold as condos in addition to 45,000 square feet of commercial space. The project would have a total development size of 225,000 square feet and would be the first Bjarke Ingels-design in Miami Beach.