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What future for the Miami Deauville Resort ?

06 Dec
What future for the Miami Deauville Resort ?

On November 8th, Miami Beach’s residents rejected the measure that would have given the ability to transform the Deauville site into a larger project. Unfortunately this vote didn’t prevent the developer from tearing down the building. On November 11th, the last occupants left the building.

The expansion of the historic Deauville site by developer Stephen Ross was contingent on the referendum.  One referendum question was related to this project. Voters were approving an increase in the floor-area ratio, a method of regulating a building’s size (including the Deauville Beach Resort). The result was as follows; about 47% of residents voted in favor of the motion, and just over 53% voted against it.

This was a failure for potential buyer. The developer has invested almost $1.9M into the campaign “Yes for a Safe and Strong Future”. Ross’s project to build a two-tower luxury condo hotel was under the condition of this referendum. Now that the project has fallen through, the company didn’t react.  

What happened after the referendum? The building was demolished in mid-November. The Deauville debris will be removed over the next two or three months. Then, the future of the site will depend on the Meruelo family, the actual owners. If they keep the Deauville site, they will get the city’s approval for all new developments and repairs. Under city approval, the owners have the right to build 500K square feet and a height of 20 stories.

In addition, the trial against Deauville Associates and the city is ongoing. Deauville’s owners are accused of letting the historic property fall into disrepair following Hurricane Irma’s damages and previous fire. They owe $4.5 million in fines.

In the following months, many changes will take place in Miami Beach. Currently, the Meruelo family has city approval for a project for the site located on Miami Beach.

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Posted by on December 6, 2022 in News

 

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