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An independent economic and fiscal impact analysis of the proposed Miami Beach Marina redevelopment at 300 Alton Road — quantifying the jobs, income, and public revenue a new Class A waterfront workplace and marina district would generate.
Terra engaged BusinessFlare® to prepare an independent economic and fiscal impact analysis of the proposed redevelopment of the Miami Beach Marina at 300 Alton Road. The plan reimagines the aging City-owned marina under a long-term ground lease as a roughly 256,000-square-foot waterfront district — about 211,000 SF of Class A office alongside 45,000 SF of retail, restaurant, and marina-service space, paired with upgraded marina infrastructure, bayfront park, and baywalk improvements.
The analysis was built to inform a public decision — prepared for the City of Miami Beach Finance Committee in support of a marina lease amendment and extension, and to carry into public review and a voter referendum. Every figure reflects benefits to the public: jobs, household income, and tax revenue to the City, County, schools, and the Children's Trust, modeled with standard input-output methods on Miami-Dade data.
At stabilization the redeveloped marina is projected to add roughly $471.8 million in taxable value to the City of Miami Beach roll, generating about $2.9 million per year in recurring City ad valorem tax alone — before County, school, and Children's Trust revenue, permit and impact fees, and lease payments. Sustained over the 99-year ground-lease term, cumulative City ad valorem revenue is projected to exceed $1 billion, alongside 745 direct permanent jobs and roughly 1,555 jobs supported during construction.
Four lenses on how the project performs for the public — construction, operations, City revenue, and community benefit.
The vertical construction program was modeled as commercial building activity in Miami-Dade County, driving a burst of regional economic activity across contractors, suppliers, and the businesses their workers support.
Ongoing operations were modeled across professional, financial, real estate, retail, and full-service restaurant uses reflecting the office, retail, and marina-service tenants the district is designed to attract.
The fiscal analysis projects taxable value and City ad valorem at the current 6.1481 millage. Value builds during construction and lease-up, stabilizes near $471.8M, then grows over the 99-year term.
Beyond tax revenue and jobs, the redevelopment delivers physical public improvements on a City-owned site: modernized marina infrastructure, enhanced bayfront park space, and baywalk improvements expanding public access to the water.