Miami voters to decide on Virginia Key development project

Miami voters will decide the future of several major municipal projects on November 3 through upcoming referendums. One key proposal, Referendum 3, concerns a $80 million private development project on Virginia Key.

Proposed by Virginia Key LLC—a partnership between RCI Group and Suntex Marinas—the initiative seeks to lease and modernize approximately 11 hectares of public coastal land. The project aims to renovate the Rickenbacker marinas and the Miami Marine Stadium, which developers describe as currently underutilized and in disrepair. If approved, the deal would provide the city with a minimum annual rent of $2.2 million plus a 6% share of gross revenues from the facilities.

The proposal has faced opposition from environmental groups and community collectives. Critics have raised concerns regarding the potential impact on the Biscayne Bay ecosystem, specifically citing water quality and the preservation of seagrass beds, as well as potential restrictions on public access to the coastline.