Miami commission votes to cut ties with Island Gardens developer Mehmet Bayraktar

In a blockbuster decision, the Miami City Commission wants to kill the deal with Flagstone Property Group to build a $1 billion mixed-use project on Watson Island. During a special meeting on Tuesday, commissioners voted 5-0 to declare the developer in default of a ground lease allowing Flagstone to build two hotels and a luxury mall with roughly 221,000-square-foot retail and restaurant space that would complement a megayacht marina completed in 2015.

The long-delayed waterfront development known as Island Gardens was initially approved by Miami voters in 2001 and the lease was finalized by the city commission a year later. Flagstone

Last modified onThursday, 01 June 2017 06:03