The commission voted unanimously to support the project headed by Mehmet Bayraktar, Flagstone chairman and chief executive officer; Sherwood Weiser, chairman of Miami-based Continental Companies; and Eric R. Kuhne of Miami-based Eric R. Kuhne & Associates.
The proposal requires ratification by registered Miami voters. They will be asked on Nov. 6 whether to grant Flagstone Properties a 45-year lease, with two 15-year renewal options.
The minimum annual rent would be $2 million on 10.8 acres of waterfront property and 13.4 acres of submerged land at this 86-acre artificial island adjacent to the Port of Miami cruise ship-turning basin.
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