Exciting news… BH3 discusses development plan for Watson Island – South FL Biz Journal
BH3 Management and Merrimac Ventues are working on development plans for Watson Island in Miami that will include hotels, restaurants, residential units and marine uses.
The island along the McArthur Causeway between downtown and Miami Beach is one of the most prominent development sites in Miami, with views of Biscayne Bay in all directions. The process to develop the vacant land on the south side of the island dates back about two decades to a lease with the city.
Greg Freedman, co-CEO of BH3 Management, said they are working with Coral Gables-based Nichols Architects to finalize the site plan for the property. He said it would stick within the parameters of what the city originally approved in the lease: up to 500 hotel rooms in two buildings, up to 105 residential units technically considered timeshares, up to 221,000 square feet of leasable retail/commercial space, up to 1,500 parking spaces, and up to 45,000 square feet of maritime uses, including a museum, a fish market and a permanent marina building for Marine Max.
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Freedman said BH3 partnered with Merrimac for Watson Island because he’s known its principals, brothers Dev Motwani and Nitin Motwani, for over a decade and they have a great skill set for hospitality and retail projects.
“We always wanted to do something together and this was the right opportunity,” Freedman said.
Read on >>>> South Florida Business Journal https://www.bizjournals.com/southflorida/news/2023/06/14/bh3-discusses-development-plan-for-miami-island.html