One of Miami\u2019s most valuable stretches of public waterfront could finally get an upgrade worthy of the address.<\/p>\n
On Nov. 3, city voters will decide whether to approve a new lease<\/a> for Virginia Key Marina with Virginia Key LLC, a joint venture of Robert Christoph Jr.\u2018s RCI Group and Suntex Marinas. The proposal calls for roughly $80 million in private investment<\/a> to remake 27 acres on Biscayne Bay, modernizing aging marina infrastructure while preserving its maritime character, at no cost to taxpayers.<\/p>\n The pitch is aimed well beyond boat owners<\/a>. Plans include new public promenades, waterfront restaurants, open green space, recreational amenities and improved marina facilities, the kind of gathering spots that turn a working marina into a destination for families and visitors.<\/p>\n \u201cThis project is about giving the waterfront back to the people of Miami,\u201d said Christoph, RCI Group\u2019s President. \u201cFor decades, this incredible public asset has been underutilized and largely inaccessible to many Miami families. Our vision is to create a destination where residents can gather, enjoy the bay, dine on the waterfront, and experience everything this remarkable location has to offer; all through private investment and at no cost to Miami taxpayers.\u201d<\/p>\n The city\u2019s balance sheet does well in the bargain. The initial 45-year lease guarantees a minimum $2.2 million in annual rent with built-in escalations, about $204 million over the initial term, plus 6% of gross revenues. Two independent appraisals commissioned by the city earlier this year concluded the lease exceeds fair market value, and the private investment spares taxpayers the bill for major capital improvements the marina needs either way.<\/p>\n \u201cMiami deserves a marina that reflects the world-class city we have become,\u201d said David Filler, a Miami resident and Suntex Marinas Chief Development Officer. \u201cThis proposal creates more public access, more recreational opportunities, more investment, and greater value for taxpayers while preserving this beautiful waterfront for future generations. It\u2019s about creating a destination that every Miami resident can enjoy.\u201d<\/p>\n The proposal arrives at the ballot box with a rare pedigree: it has already won the city\u2019s competitive bidding process twice. RCI ranked first when Miami sought proposals in 2015, then teamed with Suntex and ranked first again when the city rebid the project in 2017. Voters weighed in too, rejecting a rival measure<\/a> backed by the marina\u2019s longtime operator in 2021. In 2023, Miami-Dade Circuit Judge Alan Fine cleared the path<\/a> by ordering the winning proposal placed before voters, and City Commissioners voted unanimously in June<\/a> to put it on the November ballot. The incumbent operators are still contesting the referendum<\/a> in court, though supporters are confident the vote will go forward.<\/p>\n A decade after Miami first went shopping for a better marina, the decision rests where it always belonged. Voters can finally deliver one.<\/p>\n","protected":false},"excerpt":{"rendered":"One of Miami\u2019s most valuable stretches of public waterfront could finally get an upgrade worthy of the address.…\n","protected":false},"author":2,"featured_media":353126,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[11671,20301,144343,123,23502,125,124,144344,10545,144345,144346,33801,144347,144348],"class_list":["post-353125","post","type-post","status-publish","format-standard","has-post-thumbnail","category-miami","tag-biscayne-bay","tag-city-of-miami","tag-david-filler","tag-miami","tag-miami-city-commission","tag-miami-headlines","tag-miami-news","tag-rci-group","tag-referendum","tag-robert-christoph-jr","tag-suntex-marinas","tag-virginia-key","tag-virginia-key-llc","tag-virginia-key-marina"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/353125","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=353125"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/353125\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/353126"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=353125"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=353125"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=353125"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}