The Real Deal Miami

Firm gets 5 more years to finish Marathon project

The developer of Marlin Bay Yacht Club will use construction plans approved in 2005

August 28, 2016 12:50PM

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Marlin Bay Yacht Club rendering

Marlin Bay Yacht Club rendering

The Marathon City Council granted the developer of a $200 million bay-front residential development until 2021 to finish the delayed project.

Construction of the Marlin Bay Yacht Club stopped prematurely in 2008 when work crews went unpaid and walked off the job after building just 13 of 84 planned homes with prices up to $4 million.

Construction plans the city approved in 2005 for Marlin Bay include not only 84 homes but also a pool and clubhouse, eight affordable-housing units and a 99-slip marina.

George Garrett, Marathon’s deputy city manager, told the Keynoter newspaper that the developer, Marlin Bay Yacht Club LLC, will “continue with plans as they were originally approved.”

Garrett also told the newspaper that the developer invested $6 million in the 13 existing homes at Marlin Bay since acquiring the development site for $15 million in 2011 from L.M. Sandler and Sons. [Keynoter] — Mike Seemuth