Miami Beach’s Terminal Island may get a facelift. A proposed development agreement is in the works with the goal of an October presentation to the city commission for a 20-story tower with 60-plus residential units, amenities, parking, and a deep-water large-yacht marina.
A development agreement term sheet presented to the city’s Land Use and Development Committee last week outlines in broad strokes the proposal for the Miami Beach Port LLC and the city. Before the project begins, a development agreement is needed and some of the property would need to be rezoned for use.
The proposed luxury residential tower and accompanying mega-yacht marina would supposedly reduce traffic along the MacArthur Causeway on which the island sits by moving container operations, an incentive that has aligned neighborhood and homeowner associations with the project.