Miami Condo Market and Lifestyle Updates
Marina Utilities Deal and Hotel Project on Watson Island

Marina Utilities Deal and Hotel Project on Watson Island

by Sep Niakan | September 21, 2015

Flagstone Island Gardens, LLC recently made a deal that might bring hotel and residential units to Watson Island, as well as utilities to a mall in the Miami area.

The deal includes 150 new residential units, 455 hotel rooms, 221,000 square-feet of retail space, over 136,000 square-feet of restaurant space, a cocktail lounge measuring over 10,000 square-feet, almost 14,000 square-feet of banquet space and 50 marina dock slips.

$1.67 million in connection charges will be paid by Flagstone. Nathalie Goulet, a local attorney, signed on behalf of the developer.

Back in May, Flagstone gave over their rights to develop the property to a different legal entity, which is building the marina, to be named Island Gardens Deep Harbour, LLC. The marina entity borrowed $22.67 million from DHB Bank of the Netherlands and began building.

Once finished, the new marina will be the venue for the next Yacht and Brokerage Show in February of 2016.

 

Source: thenextmiami.com

Photo credit: thenextmiami.com

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