Watson Island Set for Transformative Development with Four Planned Towers

Miami’s iconic Watson Island is on the verge of a remarkable transformation, with plans for four new high-rise towers now under consideration. Developers Terra, ESJ Capital Partners, BH3, and Merrimac Ventures have set their sights on creating a blend of residential, hospitality, and commercial spaces on the island, though the proposals depend on two key items that City of Miami voters will weigh in on during tomorrow’s referendum. If approved, these plans would not only enhance Miami’s skyline but also bring new amenities and a public park to Watson Island.

On the north side of Watson Island, Terra and ESJ Capital Partners have proposed two striking residential towers, each rising 40 stories high. The development would add between 500 and 600 residential units to the island, making it a highly desirable living destination within close proximity to Miami’s bustling downtown.

As part of the agreement, Terra and ESJ Capital Partners would compensate the City of Miami for the use of land and commit to building a public park, adding value not only to the residents but also to Miami locals and visitors who would enjoy the expanded green space and waterfront access.

Meanwhile, the south side of Watson Island would see a more diverse mix of uses under the plans put forth by BH3 and Merrimac Ventures. This development envisions two towers, one approximately 40 stories high and another 30 stories, combining upscale residences, a lifestyle hotel, and entertainment amenities.

The taller tower would house 105 luxury condominiums, priced above $1 million, as well as 150 hotel rooms catering to the discerning traveler. The shorter tower would offer a lifestyle hotel with over 350 rooms, making it a major destination for visitors.

In addition to the residential and hospitality spaces, the south side would feature retail outlets, restaurants, and offices, creating a vibrant, mixed-use community that enriches Miami’s luxury lifestyle offerings.

If the referendum results are favorable, BH3 and Merrimac Ventures plan to begin the permitting process in 2025, with groundbreaking slated for 2026. These timelines reflect the city’s ambition to thoughtfully integrate this project into the fabric of Watson Island while maintaining a balance between development and public access.

As the decision rests with Miami’s voters, the outcome of this referendum could shape Watson Island’s future as a premier destination, blending urban luxury with community-focused green spaces.

Unlocking Miami’s Last Frontier: The Bold Vision for Watson Island

Building in metropolitan Miami has long been a balancing act between nature and urban expansion. Hemmed in by the lush Everglades to the west and south, and the Atlantic Ocean to the east, Miami’s land has always been a precious commodity. Now, developers have set their sights on one of the city’s last undeveloped frontiers: Watson Island.

Watson Island, a mostly undeveloped, city-owned stretch of land sitting in Biscayne Bay, has long eluded developers. Despite its prime location just east of downtown Miami, accessible only via the MacArthur Causeway, the island has remained mostly barren. But now, Merrimac Ventures and BH3 Management are proposing a transformative mixed-use project that could finally unlock the island’s potential.

“This is the most underutilized, rare opportunity that exists in all of Miami,” says Greg Freedman, co-CEO of BH3 Management. His words resonate with the urgency and excitement that the proposal has sparked across Miami. In November, the city’s voters will decide whether to move forward with this ambitious plan—a plan that could put an end to decades of indecision and missed opportunities.

Watson Island has a rich history that dates back to Miami’s early days. It’s one of the man-made islands in Biscayne Bay, created through extensive dredging projects in the early 20th century. These projects, which drained and filled swampy lands, fueled Miami’s real estate boom and led to the construction of thousands of homes, roads, and even a railway. The island was deeded to the city in 1919 and was fully reclaimed by 1926, becoming a critical link between Miami and Miami Beach.

Over the years, other islands in Biscayne Bay have been transformed into luxury residential areas or key infrastructure projects. Brickell Key, Star Island, and PortMiami all emerged from similar origins, but Watson Island remained largely untouched, save for the Miami Children’s Museum and Jungle Island, which occupy just a fraction of its 86 acres.

The proposed development by Merrimac Ventures and BH3 Management envisions Watson Island as Miami’s newest neighborhood. The plan includes two hotels, 97,430 square feet of retail space, 100,350 square feet of boutique offices, and 105 condominium units. Additionally, the project would see upgrades to the seawall and boardwalk, infrastructure improvements, and the creation of a public park and promenade. The developers aim to create a vibrant, mixed-use community that will finally breathe life into the long-dormant island.

If the voters approve the proposal, the developers will enter a 99-year ground lease with the city and contribute $9 million toward affordable housing in Miami. The project also includes a commitment to hiring local workers, further embedding the development into the fabric of the community.

Chalks Still Working on Ambitious Seaplane Base on Watson Island

Chalks, which has plans to build an ambitious new seaplane base on Watson Island, recently submitted a new one page set of plans to the City of Miami with a new site plan showing how the structure would be oriented on the site. The surreal and spectacular building will be a towering multi-purpose structure, with a seaplane hangar and airport on the ground floor, commercial and exhibition space above, and the whole thing topped with a lighthouse, to a design by architects Wolfberg Alvarez. This is how the Herald described it January:

Vega showed commissioners a circular, nine-story building with a hangar and terminal on the bottom floor and a hanging garden in the center. Roughly 50,000 square feet of restaurant, retail and office space were included, an exhibition garden was planned on the fifth floor, and a media room and steakhouse completed the upper levels. The ninth floor was an observation deck, where people can watch seaplanes take off over Government Cut.