Lawsuit Filed To Stop Island Gardens On Watson Island

September 22, 2014 in Flagstone, Golden Dusk Photography, Island Gardens, Miami, Watson Island

After receiving approval in May, Flagstone has begun doing site work on Watson Island, which includes preparing the area for a marina to dock mega yachts. However, Flagstone has not given a timeframe when they plan to start the rest of the project.

Two Miami residents are suing to block the project according to the Miami Herald. They argue that the city approved to lease the site at $2 million a year based on the original agreement in 2001 and Flagstone should not have to pay that amount. Over time, the lease for the site should be valued at over $ 7 million a year based on 2014 estimates.

The residents want new bids for the site and the existing contract thrown out.

Construction on Watson Island Still Hasn't Begun

June 23, 2014 in Condo, Flagstone, Island Gardens, Miami, Watson Island

In May, Miami Commissioners gave approval for the developer Flagstone Property Group to begin construction by June 2, but that date has come and go nothing has been done to the site.

According to the Miami Herald, Flagstone hasn't applied for building permits, but they say, "“construction work” had indeed begun by June 2 — because, they say, a diver mapped and surveyed corals and sea grasses that must be moved or replaced elsewhere in the bay before dredging and construction of the marina can begin."

Flagstone has been paying $2 million a year in rent based on 2001 values, when the actual value should be around $7.2 million.

Flagstone claims marina construction should begin by December.

Flagstone Receives Approval to Develop Watson Island

May 09, 2014 in Condo, Construction, Golden Dusk Photography, Miami, Island Gardens, Flagstone, Real Estate

The Miami Herald reports that Miami commissioners have voted for developer Flagstone to begin work on Island Gardens located on Watson Island.

Island Gardens is to include condos, retail, restaurants and a mega yacht marina, but this project has been stalled since 2001 for various reasons.

Last year, Flagstone partnered with Related Group with a bigger project than originally planned, but Related pulled out of the deal two months later.

The site is located on prime waterfront land with the best views of the city. Residents feel that this project will congest the MacArthur Causeway and cause more delays.

Flagstone has until June 2 to break ground or Miami commissioners will consider abandoning the deal altogether.