Watson Island Set for Transformative Development with Four Planned Towers
Miami’s iconic Watson Island is on the verge of a remarkable transformation, with plans for four new high-rise towers now under consideration. Developers Terra, ESJ Capital Partners, BH3, and Merrimac Ventures have set their sights on creating a blend of residential, hospitality, and commercial spaces on the island, though the proposals depend on two key items that City of Miami voters will weigh in on during tomorrow's referendum. If approved, these plans would not only enhance Miami’s skyline but also bring new amenities and a public park to Watson Island.
On the north side of Watson Island, Terra and ESJ Capital Partners have proposed two striking residential towers, each rising 40 stories high. The development would add between 500 and 600 residential units to the island, making it a highly desirable living destination within close proximity to Miami's bustling downtown.
As part of the agreement, Terra and ESJ Capital Partners would compensate the City of Miami for the use of land and commit to building a public park, adding value not only to the residents but also to Miami locals and visitors who would enjoy the expanded green space and waterfront access.
Meanwhile, the south side of Watson Island would see a more diverse mix of uses under the plans put forth by BH3 and Merrimac Ventures. This development envisions two towers, one approximately 40 stories high and another 30 stories, combining upscale residences, a lifestyle hotel, and entertainment amenities.
The taller tower would house 105 luxury condominiums, priced above $1 million, as well as 150 hotel rooms catering to the discerning traveler. The shorter tower would offer a lifestyle hotel with over 350 rooms, making it a major destination for visitors.
In addition to the residential and hospitality spaces, the south side would feature retail outlets, restaurants, and offices, creating a vibrant, mixed-use community that enriches Miami’s luxury lifestyle offerings.
If the referendum results are favorable, BH3 and Merrimac Ventures plan to begin the permitting process in 2025, with groundbreaking slated for 2026. These timelines reflect the city’s ambition to thoughtfully integrate this project into the fabric of Watson Island while maintaining a balance between development and public access.
As the decision rests with Miami’s voters, the outcome of this referendum could shape Watson Island’s future as a premier destination, blending urban luxury with community-focused green spaces.
