BH3 & Merrimac Release First Rendering for Watson Island Development as Miami Residents Prepare to Vote on It

This November, Miami residents will vote on the Watson Harbour project, a mixed-use development planned for the south side of Watson Island. Proposed by BH3 Management and Merrimac Ventures, the development includes hotels, retail spaces, offices, residences, dining areas, and public spaces, all strategically located on Biscayne Bay between Downtown Miami and Miami Beach. The project aims to revitalize a key waterfront area in South Florida.

Acquisition and Planning

In 2023, BH3 Management and Merrimac Ventures acquired 10.8 acres of land at 888 MacArthur Causeway. They have since developed a privately funded plan to transform this site into a premier destination. If approved by voters, the project will feature new public spaces, including a 2.2-acre promenade on Biscayne Bay, a greenspace, a maritime museum, and improved infrastructure and resiliency measures.

Economic and Community Benefits

The development is projected to significantly boost the local economy, generating millions in additional annual tax revenue for Miami. The project also promises numerous community benefits, such as local hiring initiatives, retail space for nonprofits, and contributions to affordable housing and public infrastructure. Notably, a $9 million contribution is included in these efforts.

Sustainability and Modernization

Watson Harbour's design incorporates several sustainability and modernization features. These include a seawall exceeding base flood elevation standards, native flora, a new tree canopy, LED and solar lighting, and an on-site stormwater management system. This system will incorporate rain gardens and other measures to prevent water discharge into Biscayne Bay, enhancing environmental resilience.

Support and Vision

BH3 Management and Merrimac Ventures are committed to realizing Watson Island's potential as a community destination and economic driver. Leaders from both firms expressed enthusiasm for transforming the island into a vibrant public space that benefits Miami’s urban core.

Developer Background

The teams behind Watson Harbour have extensive experience with large-scale developments. BH3 Management has developed over 4 million square feet of commercial real estate and deployed over $2 billion in capital. Merrimac Ventures' portfolio includes high-value assets such as Miami Worldcenter, Four Seasons Fort Lauderdale, and various Paramount-branded condominiums.

North Side Redevelopment Plans

In addition to the south side development, revised plans for the north side of Watson Island, formerly known as Parrot Jungle, have been proposed. If approved, Ecoresiliency Miami LLC would invest $135 million to develop a public park and two condo buildings with 600 units. This development, led by Terra and ESJ Capital, includes significant investments in public infrastructure.

Ballot Language and Voting

Miami residents will see the following language on the 2024 General Election ballot. The election is scheduled for November 5, with early voting beginning in October:

“Shall City Charter be amended to revise existing leases at 888 MacArthur Causeway, sell 3.2 acres of leased property to tenant at fair market value of not less than $25,000,000, reduce overall development, extend term 24 years, waive bidding and authorize, at no cost to City: $9,000,000 contribution to affordable housing and infrastructure improvements; Timeshare units become condominiums; Mixed-uses to include office; Expanded public waterfront and pedestrian promenade along Biscayne Bay.”