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.