This November, City of Miami residents will vote on Watson Harbour, a mixed-use development planned for the south side of historic Watson Island. The project, proposed by BH3 Management and Merrimac Ventures, includes two hotels, retail spaces, offices, residences, dining areas, and expansive public spaces. Located directly on Biscayne Bay between Downtown Miami and Miami Beach, Watson Harbour aims to activate one of South Florida’s most vital waterfront properties.
BH3 Management and Merrimac Ventures acquired and assumed the 10.8 acres of land leased at 888 MacArthur Causeway in 2023. They have since created a privately funded plan to transform the site into a destination for residents and visitors. If voters approve in November, the project will deliver new and enhanced public spaces, including a 2.2-acre public promenade on Biscayne Bay, a new greenspace, a maritime museum, infrastructure and resiliency improvements, and waterfront shopping and dining areas.
The project is expected to generate significant economic impacts, resulting in several million dollars annually in additional tax revenue for the City of Miami. It includes a comprehensive package of community benefits, such as hiring from local underserved communities, retail space for nonprofit organizations, infrastructure and resiliency improvements on City-owned land, and a $9 million contribution to affordable housing and public infrastructure.
Watson Harbour’s commercial space will be reduced by more than 10 percent from what is currently approved for development on the property. Modernizations and sustainability features will include the creation of a seawall that exceeds base flood elevation standards, the installation of native flora and a new tree canopy, LED and solar lighting fixtures, and an on-site stormwater management system comprising rain gardens, on-site infiltration, and safeguards that improve water quality by preventing discharge into Biscayne Bay.
“Watson Island has amazing potential to be a destination for everyone, an economic engine for Miami, and a gathering place for the surrounding community, but it has fallen victim to stops and starts dating back more than two decades while Miami’s urban core has otherwise thrived,” said Greg Freedman and Daniel Lebensohn, Co-CEOs of BH3 Management. “We are excited, humbled, and eager to deliver on this potential. Watson Harbour will be a permanent, publicly accessible part of Miami’s fabric going forward.”
“Downtown Miami is coming alive with new residents, but everyone agrees the area would benefit from additional public space, so we have designed a waterfront promenade totaling more than two acres which is the centerpiece of our plan,” said Nitin Motwani and Dev Motwani, co-Managing Partners at Merrimac Ventures. “Voters now have an opportunity to create a true community asset at Watson Harbour – one that introduces long-term benefits for the City of Miami while improving its resiliency for the future.”
The team behind Watson Harbour has extensive experience with transformative projects. BH3 Management, led by principals Daniel Lebensohn and Gregory Freedman, has developed more than 4 million square feet of commercial real estate, including Privé at Island Estates in Aventura, and has deployed over $2 billion of capital since its inception. Merrimac Ventures, led by brothers Nitin and Dev Motwani, is developing assets valued above $3 billion. Their portfolio includes the $4 billion, 27-acre Miami Worldcenter in Downtown Miami; the Four Seasons Fort Lauderdale Hotel and Residences; Paramount-branded condominiums in Miami and Fort Lauderdale; and the Las Olas Riverfront.
In addition to the south side development, revised plans have been proposed for the island’s north side, formerly known as Parrot Jungle. If approved by voters, Ecoresiliency Miami LLC would pay $135 million for 5.4 acres on the north side and build a 13.3-acre public park at an estimated cost of $38 million. The development would also include two condo buildings with 600 units, developed by a partnership between Terra and ESJ Capital, the owner of Jungle Island.
Below is the language that will appear on the 2024 General Election ballot in the City of Miami. Election day is November 5, 2024, and Early Voting begins in October:
“Shall City Charter be amended to revise existing leases at 888 MacArthur Causeway, sell 3.2 acres of leased property to tenant at fair market value of not less than $25,000,000, reduce overall development, extend term 24 years, waive bidding and authorize, at no cost to City:
– $9,000,000 contribution to affordable housing and infrastructure improvements;
– Timeshare units become condominiums;
– Mixed-uses to include office;
– Expanded public waterfront and pedestrian promenade along Biscayne Bay.”
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Watson Island, ie both sides of Watson island, should be a public park. Unfortunately,
there is too much corruption in Miami. Elected officials are quick to give away park land to developers who make “campaign” contributions.
Does anyone making these decisions ever consider traffic…it’s already bad without adding all this!