Miami voters will decide in November whether to approve Referendum 3, a ballot measure that would determine the future of almost 30 acres of waterfront property at Virginia Key, along Biscayne Bay.
If voters say yes, the land would be leased to Virginia Key LLC, a joint venture between RCI Group and Dallas-based Suntex Marinas. The lease would run a maximum of 75 years, including a 45-year initial term and two 15-year renewals. The city would receive annual rent of $2.2 million.
The developers have promised $80 million in private investment to redevelop the Rickenbacker and Marine Stadium marinas. Plans include boat storage, restaurants and retail, along with public walkways and spaces for walking, running and cycling. They also pledged hundreds of jobs.
Suntex official David Filler said the current marina and its infrastructure are outdated. He said the redeveloped site would be open to the public, not just the boaters who rent slips.
Opponents, including Friends of Biscayne Bay, worry about seagrass, water quality and dredging for larger boats in a shallow estuary. Campaign ads from the opposition describe the deal as handing over one of the last public waterfronts to out-of-state developers. Developers responded that the existing marina already sends oil, gas and boat cleaning runoff into the bay.
Although only city voters can cast ballots on the measure, the outcome could affect anyone in South Florida who uses Virginia Key.
