M
iami voters have approved two ballot measures that will allow development groups to build more condos on Watson Island in exchange for public benefits. The city will receive park space and a baywalk as part of the deals. The referendums waive competitive bidding, allowing the city manager to negotiate property sales.

    Ecoresiliency Miami, a joint venture between ESJ Capital Partners and Terra, will pay $135 million for 5.4 acres on Jungle Island. They plan to build 600 luxury condos and return over 13 acres of land to the city as a public park. The developers have agreed to contribute $15 million towards affordable housing, infrastructure improvements, and a waterfront expansion.

    BH3 Management and Merrimac Ventures proposed acquiring 3.2 acres for at least $25 million, allowing them to build about 100 condos instead of previously approved timeshare units. The city will revise and extend the lease by 24 years for additional property anchored at 888 MacArthur Causeway.

    The deals were made possible after voters approved charter amendments in previous years. ESJ Capital Partners secured voter approval in 2018 to modify its lease on Jungle Island, but never built a planned hotel. BH3 and Merrimac formed a joint venture last year to take over the lease for about 10.5 acres on the west side of the island.

    The Watson Harbour project will include two hotels, retail, offices, condos, restaurants, and public spaces. The developers have agreed to contribute millions towards affordable housing and infrastructure improvements.