We all know that Watson Island was supposed to become an amazing resort with a Shangri-La resort and retail spaces. But it’s been 12 years that the project has been stalled, the original developer having financial issues. Well, these days something pretty interesting has been happening in Watson Island!
Indeed, the Miami City Commission will allow extending the lease to the original developer, Flagstone Island Garden, granting him more time to start the construction. The good news is that the developer will have a new asset on its side since the Related Group is supposed to make a move to become co- developers of the project!
The famous Jorge Perez is, as always, going to do something incredible about it! Of course the team is going to improve the initial plans that are 12 years old. For example they have in mind to expand the retail space from 220 000sqft to 500 000sqft, they want to add an extra 1000 sqft to the convention center and increase the number of hotels beds from 605 to 705 beds.
I have heard that it would cost $1 Billion to the Related Group to get involved in that project but I am sure that if they decided to go for it, they will jump into it despite the price! Anyhow I’ll keep you updated, I am sure that we will be astonished once again! For the moment, you can check out the current project on my website http://www.condoideas.com/condo/1009_1121-islandgardenscondo.htm