Miami to Vote on $80 Million Virginia Key Project
Miami residents will vote on November 3, 2026, on whether to authorize an $80 million project in Virginia Key to renovate and operate the island’s municipal marinas through a…
Miami residents will vote on November 3, 2026, on whether to authorize an $80,000,000 project in Virginia Key to renovate and operate the island’s municipal marinas. The public referendum, called Referendum 3, will determine whether the city leases nearly 28 acres of public land in a concession for an initial period of 45 years, according to CBS Miami.
What Does Referendum 3 Propose About the Project?
The ballot will submit to citizen consideration the lease of approximately 27.6 acres of public coastal land belonging to the city. The contract includes an initial term of 45 years with 2 renewal options of 15 years each, which could extend the private concession to 75 years.
The proposal was presented by Virginia Key LLC, a business alliance made up of the local firm RCI Group and Texas-based Suntex Marinas. The plan includes reconstruction of deteriorated docks, covered storage facilities for boats, waterfront restaurants, retail spaces, and public parking.
In exchange for using the waterfront space, the company commits to paying the city a minimum base rent of $2,200,000 per year with tiered increases. The city would also receive 6% of the gross annual revenues generated by the marinas’ commercial activities.
What Arguments Do Private Developers Present?
Real estate developers claim the project will rehabilitate a deteriorated coastal area without compromising municipal budget funds. Robert Christoph, president of RCI Marine, defended the economic benefits of the initiative before CBS Miami cameras.
«Voters can decide what they want their asset to provide them, not just as a destination and water access, but also in terms of the appropriate amount of money they should be paid,» Christoph said. The company projects that the city’s coffers will receive approximately $204,000,000 in guaranteed rents during the first four decades of the concession.
Facing allegations that the marina will become an exclusive enclave for large yachts, Suntex Marinas rejected that claim. David Filler, an executive with the company, stated that the design only includes 5 moorings for vessels longer than 30 meters.
Why Do Environmental Organizations Oppose the Plan?
Environmental advocacy groups question whether a commercial development of such magnitude should be built in Biscayne Bay. Representatives of the Friends of Biscayne Bay organization warned that construction could damage seagrass beds and worsen water quality in an ecosystem already under constant urban stress.
Laura Reynolds, environmental policy advisor, expressed her concern about the fragility of the aquatic environment. «We are at a tipping point in Biscayne Bay,
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