Remaking Miami’s Watson Island is worth spending $1 billion on — and even more, developer Jorge Perez has told the city.
Perez, who heads Related Group, told commissioners that he and his partners are already well on their way to investing 10 figures in a mega-yacht complex on the island that has been stalled for a dozen years, exMiami reported.
The project, which Perez described as a “crowning achievement,” is being designed by local firm Nichols Brosch Wurst Wolfe; the developers, which include Miami Dolphins owner Stephen Ross of New York’s Related Companies, have already paid several millions of dollars in architectural and legal fees.
Perez and Ross became co-developers of the property earlier this summer along with Flagstone Island Gardens, which received a lease extension from the commission.
Earlier this month, resident Stephen Herbits filed a lawsuit, pushing for the release of public documents on the delayed project. Herbits claims that Perez and Ross are trying to circumvent the permitting process. [exMiami] – Melanie Gray
via The Real Deal Miami http://feedproxy.google.com/~r/trdnews_miami/~3/RCA690bIUk0/
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