The Real Deal Miami

Watson Island marina to open during Art Basel, developers say

Marina designed for 50 yachts up to 550 feet long
May 13, 2015 02:45PM

Aerial view of Watson Island

Aerial view of Watson Island

Island Gardens, the planned mixed-use development on Miami’s Watson Island, will open its marina in time for Art Basel this year.

The $1 billion project, designed by Nichols Brosch Wurst Wolfe & Associates, will include two luxury hotels, a residential building, retail and restaurants. Critics to the development have cited distrust of the city’s government and traffic as reasons for their opposition.

The Deep Harbour at Island Gardens marina is designed to hold 50 yachts up to 550 feet long, according to the developer, Flagstone Property Group. North Palm Beach-based Technomarine Group is building the marina, which will include its own customs and immigration office.

Mehmet Bayraktar, Flagstone founder, told the Miami Herald that some of the yachts will be charters with weekly rates ranging from $50,000 to $500,000.

“Island Gardens Deep Harbour will have a national and international impact on the superyacht market,” said Erik Sanderson, chairman and chief executive officer of Technomarine Group, in a statement. “Miami is the perfect location for the first marina designed to cater to this special category and we seek to set a new benchmark for the marina industry worldwide.”

Portions of the contentious mixed-use development will open in 2017 and 2018. Coastal Construction is the contractor, and Cervera Real Estate will be the exclusive sales and marketing firm for the residential portion. When completed, Island Gardens will include landscaped gardens, public art installations and a public promenade. — Katherine Kallergis