Miami Beach Port LLC, a Related Group Affiliate, paid $9.94 million for a 3.71-acre parcel at 120 MacArthur Causeway in 2013.
“Miami Beach officials said they support the zoning changes because Related has said it will build a new 40,000-square-foot building that will allow the city to consolidate its fleet management operations, along with other administrative offices. The building will be built on a 2.16 acre site on the west side of the Related parcel. It would make up much of the base of the tower, with separate parking facilities for city workers and residents whose parking facilities would be on the third floor of the parking garage.”
We will see if this will be taken off the ground, with Coast Guard said not being too happy about the move.
Courtesy of the The Real Deal.