A lawsuit from the team selected to redevelop the Miami Beach Convention Center could be imminent after voters increased the requirement to approve the project.
City voters passed a charter change during yesterday’s elections that necessitates a supermajority of 60 percent to approve leases related to the $1 billion convention center project. Before then, developer South Beach ACE only needed a simple majority. The group was chosen by city commissioners in June to rehab the convention center and build an 800-room hotel and 90,000 square feet of retail and restaurant space.
South Beach ACE, a partnership that includes Tishman Hotels and Robert Wennett, could have grounds for a lawsuit against the city, the South Florida Business Journal reported. The group has not revealed its post-election intentions.
Meanwhile, two critical commission races are headed to runoff elections. Philip Levine, a mayoral candidate who has been outspoken against the size of the convention center project, barely missed the 50.5 percent threshold necessary to avoid a runoff. Current mayor Matti Herrera Bower, a project supporter, is also headed to a runoff for a commission seat. [South Florida Business Journal] – Eric Kalis
via The Real Deal Miami http://feedproxy.google.com/~r/trdnews_miami/~3/b-e6n5ZAd7c/
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