Island Gardens Developer Signs Utilities Deal For Mixed-Use Project

Flagstone Island Gardens LLC signed a deal last week that could bring utilities for a mall, along with residential and hotel units on Watson Island.

The agreement calls for the following to be built:

  • 150 residential units
  • 455 hotel rooms
  • 221,000 square feet of retail space
  • 136,140 square feet of restaurant space
  • 10,340 square feet of cocktail lounge
  • 13,8000 square feet of banquet hall
  • 50 marina slips

Flagstone will pay a connection charge that is estimated to be $1.67 million. Attorney-in-fact Nathalie Goulet signed on behalf of the developer.

In May, Flagstone transferred development rights over to a separate entity which is developing the marina named Island Gardens Deep Harbour, LLC. That entity then obtained a $22.67 million loan from DHB Bank of the Netherlands, and commenced construction on the marina.

Island Gardens Deep Harbour filed a separate notice late last month that it was installing a medium moor mooring system and a large vessel fender and mooring system. The notice was signed by chairman Mehmet Bayraktar.

The new marina will be a venue for The Yacht and Brokerage Show In February 2016.

 

 

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Anonymous
6 years ago

It will be a nice place to go when its built I don’t see why everybody bitchin? Miami beach fear is traffic they think it will create but we really don’t know if traffic will be an issue or not. Yes it will get built all of it so guys you might as well love it.

Anonymous
6 years ago

if Miami beach is worried about gridlock on the causeway it serves them right….should have been a link built years ago….now they pay the price….if this Watson island really ever gets built….

MTB
6 years ago

Agreed… baylink should be a priority for MB and City of Miami. If traffic is MB’s issue, I’m sure they had the same argument when the port tunnels were built, and they survived. Also, traffic hasn’t stopped them from approving development of the beach.

Anonymous
6 years ago

I rather have a World Trade Center at the Port of Miami

Anonymous
6 years ago

I love the idea… I desire to live there with that spectacular Downtown view.

Danny
6 years ago

Oh boy, is that an eye sore.

suomynona
6 years ago

What’s Miami Beach’s issue with this project/site?

Anonymous
6 years ago

A lot of tourists may decide that they like Miami better than Miami Beach, that’s the problem.

Anonymous
6 years ago

No, Miami Beach isn’t worried about a crappy mall taking tourists away it’s worried about the traffic mess that will be created on the main causeway into/out of South Beach.

Anonymous
6 years ago

So the Watson Island scam is back on. I see we are back to a large commercial retail presence. Miami Beach has not a chance in hell of stopping this project. And the City of Miami commission has or is about to vote to change the “Parks and Recreation ” current designation for the balance of land not included in this project to commercial. Nice job Mark Sarnoff you will have successfully completely eliminated a bayfront public park from green to concrete. Miami is slowly becoming Hong Kong and no that is not a compliment if you have never visited that city.

Anonymous
6 years ago

Don’t worry Miami Beach residents… not a chance anything other than the Marina is built.