Terra and Suntex Marinas filed plans to redevelop the Miami Beach Marina, proposing a 14-story office building.
The development would replace the three-story building at 344 Alton Road that includes Monty’s Sunset restaurant, the South Florida Business Journal reported. The Miami Beach Commission is expected to refer the proposal to a committee next month before it heads to the planning board in June. The proposal requires approval from the commission as well as a majority of voters, via a referendum, the outlet said.
Plans call for ground-floor retail, to include space for Monty’s and a police substation, plus three stories of parking and 10 stories of office space. The plan doesn’t require rezoning.
The redevelopment would shrink the marina’s retail space from 63,000 square feet to 45,000 square feet, and it would increase parking from 160 surface parking spaces to 480 garage spaces.
Dallas-based Suntex operates the marina under a lease with the city signed in 1983. It has 400 slips for boats up to 250 feet.
The developers are proposing a multimillion-dollar update of the marina, including upgrades to the Baywalk, and a new 99-year lease with the city. Terra’s David Martin said they plan to restrict commercial charter activity and give preference to Miami Beach residents.
A residential proposal for the site by Terra and Suntex was narrowly shot down by voters six years ago. That plan called for a 38-story condo building with 60 units and 45,000-square-feet of retail, plus a 1-acre park and marina upgrades. The developers had agreed to pay the city $55 million for land and air rights in that scuttled deal. On the same ballot, Terra and Suntex managed to convince voters in 2020 to approve their long-term lease to operate and upgrade the marina.
Terra is one of the biggest developers in South Florida. It is partnering with Jackie Soffer’s Turnberry to develop a 17-story, 800-room hotel next to the Miami Beach Convention Center. They received a $392 million construction loan for the project from Adi Chugh’s Tyko Capital about a year ago.
— Rachel Stone
