Miami Voters to Decide Virginia Key Marina Project

Miami voters will decide whether to approve an 80 million dollar private investment to redevelop Virginia Key marinas. The proposal includes a 45-year lease and guaranteed rent for the city, drawing both support and local opposition.

Miami voters will decide on a $80M privately funded lease and redevelopment of city-owned land on Virginia Key during the November 3 election. Referendum 3 proposes leasing 27.62 acres to a joint venture between RCI Marine Group and Dallas-based Suntex Marinas. The vote will determine the future of the Rickenbacker and Marine Stadium marinas in the United States.

Lease Terms and Financial Projections

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