By Jai-Leen James, Contributing Reporter
MIAMI BEACH, FLORIDA – The Miami Beach City Commission voted 6 – 0 in favor of bringing a new development proposal to the attention of their Land Use and Development Committee. The Related Group wants to build a 90-unit condominium on Terminal Island called One Island Park.
Related Group Chairman and CEO Jorge Perez proposed his development idea before the Miami Beach City Commission on Wednesday, June 5th. The 35-story tower is projected to be over 400 feet tall and offer panoramic views of the isle.
In 2017, Perez presented a similar plan – a 25-story, 90-unit condominium with a yacht marina – but faced heavy objections from the United States Coast Guard.
Currently, Terminal Island hosts Miami Beach’s fleet management facilities, a utility plant, a gas station for city official vehicles, the Fisher Island ferry terminal and a U.S. Coast Guard Station. The land is zoned for light industrial uses.
In addition to requesting residential construction, The Related Group also wants to combine the Floor Area Ratio of several lots in the area where the tower is proposed to create space for the height. Forty feet is the permitted building height, as of now.
If their plan is approved, Related Group has pledged to replace Miami Beach’s present fleet and sanitation buildings. The proposed facility would feature over 50,000 square feet of office space, police and warehouse space, a renovated gas station and a 400-space parking garage.
“We’ve had a long history in Miami Beach. We like to think of ourselves as legacy builders,” said Perez. “When I saw this opportunity, it was an opportunity to do something that was very impactful, that would open an iconic building at the entrance of Miami Beach.”
In his plan, Perez estimates that One Island Park will generate nearly $3 million per year in revenue. To date, Terminal Island contribute $10,500 in tax revenue per year.
“I realize it is a lot of revenue but, more importantly, it has the potential to give us a public benefit that can excite our public manager and at the same time provide a template for intensity that is much lower than it is right now, which in the long run I think would benefit the residents,” said Miami Beach mayor Dan Gelber.
Perez also introduced an alternative plan. Rather than a condo, Perez proposed a four-story, 150,000 square foot office building. It would reach a scaled back 40 feet in height and draw 450 inhabitants per day.
Related Group has received the support of the South of Fifth Neighborhood Association. However, they have yet to receive support from the Coast Guard. Previously, the Coast Guard complain that the real estate project would hinder its operation capabilities on the island.
Commissioner John Elizabeth Aleman voiced her concern on the group’s lack of effort to address the Coast Guard’s apprehensions and present a traffic report. “Supporting the referral does not guarantee my support for the project as we move forward. That has to be earned.” Aleman said.
Before their proposal is ultimately approved, Related Group must receive a passing vote from the Miami Beach Land Use and Development Committee. Pending approval there, Related then has to return to the Miami Beach City Commission twice for a vote on tax amendments and a development agreement to obtain the required building permits.
The meeting with the Miami Beach Land Use and Development Committee is scheduled for July.