There is an overlooked piece of real estate that connects Miami Beach and the mainland: Watson Island. After over a decade of started and stalled development proposals, the Miami City Commission recently approved that Haute-lister Jorge Perez and business partner, Stephen Ross will be co-developers for Watson Island, a project in which will cost $1 billion.
The project on Watson Island will consist of 500,000-square feet of retail space, a new convention center space, and two high-end hotels. This redevelopment project construction will finish by 2017 and be a “crowning achievement,” according to Perez. He recently said of this long-awaited project: “It’s really the most complicated job I have ever been involved in. I will put 1,000 percent of my effort to make it a reality.”