The Real Deal Miami

Marina construction on course

August 26, 2009 04:11PM

Mehmet Bayraktar, the developer of the stalled Island Gardens yachting resort on Miami’s Watson Island, claims he will be able to start construction on his planned luxury marina by February. He paid off $100,000 in back rent for the city-owned site and said his company, Flagstone Development, would be able to retain the financial arrangements that will make the project possible. Island Gardens still faces claims of $2 million in unpaid legal, architectural and construction bills.