Just three blocks east, at 1664 Meridian Avenue, Peebles - along with two partners, local developer Scott Robins and former Miami Beach Mayor Philip Levine - wanted to develop a six-story building with Class A office space, 43 market-rate residential apartments, ground-floor retail space, and public parking to replace the existing 151 spots. Developers saw an opportunity to build boutique offices in Miami Beach in part to serve billionaires, who relocated to the island town during the pandemic and now seek offices near their residences.Īt 1688 Lenox Avenue and 1080 Lincoln Lane North, Starwood’s plans with partners Integra Investments and The Comras Company called for a 100-foot-tall structure that would feature office space, ground-floor retail (including 1,000 square feet leased to a nonprofit rent-free) and a public parking lot to replace the existing surface lot. Had they been approved, the leases together would have generated $355 million for the city over 99 years, as stated on ballots. As with Ross, voters rejected each of the proposed leases by 53 percent. Ventures led by Sternlicht’s Starwood Capital and Peebles’ Peebles Corporation both sought 99-year leases to build competing office-heavy, mixed-use projects on city-owned land near Lincoln Road, a pedestrian shopping street in Miami Beach. Ross wasn’t the only developer to lose in Miami Beach. The demolition is scheduled for this Sunday. A Miami-Dade circuit judge later upheld the order. It fell into such disrepair that a Miami Beach official deemed the resort structurally unsafe and ordered it to be knocked down last January. The resort has been closed since 2017, following an electrical fire. Regardless of Tuesday’s vote, the Deauville property will be demolished. We appreciate the tremendous support we received from thousands who backed a real vision for a better North Beach and still believe there’s a brighter future ahead,” the statement reads. “While we are disappointed with the outcome, we know North Beach deserves an economic engine, not an eyesore. When reached for comment, Ross and Related representatives provided a statement from Yes For A Safe and Strong Future. The sale was contingent on voters approving the height increase. Ross’ plans for the Deauville site are unclear following the defeat. In July, Ross also spoke at a Miami Beach city commission meeting, where he mapped out his plans for “a world-class project.” Yes For A Safe and Strong Future, a political action committee tied to Related Companies, spent over $1 million in favor of the referendum. The billionaire developer enlisted world-renowned architect Frank Gehry to design the new complex. I know what this site means to the people of Miami Beach,” Ross said when announcing his purchase bid in May. “As a native of Miami Beach, this project is personal to me.
The development seemed like a passion project for Ross, who partly grew up in town. Had the ballot measure passed, Related would have developed an Equinox -branded complex with two luxury towers, featuring 125 condos and 175 hotel rooms. The New York-based developer wanted to increase the floor-area ratio, a method of regulating a building’s size, for the Deauville lot at 6701 Collins Avenue and two adjacent parcels. Some 53.4 percent of voters rejected Ross’ bid to exceed the current building-size regulations, effectively halting his plans to redevelop the historic Deauville Beach Resort, a MiMo-style property, which served as the location of The Beatles’ famed performance on “The Ed Sullivan Show ” in 1964. SEE ALSO: US Office Sales and Prices Keep Falling With Declining Demand and Ongoing Distress
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