Should a condo and park replace Jungle Island? Question could go to November’s ballot
READ MORE
Condo crisis in South Florida
Aging buildings, new laws and spiraling fees and assessments have affected condominium residents and the real estate market in Miami-Dade and Broward.
Expand All
Six years after Miami residents approved a plan to build an eco-adventures resort on the site of the theme park known as Jungle Island, a new proposal to redevelop a portion of the city-owned land could go before voters in the fall.
Terra, a Coconut Grove-based real estate developer, and ESJ Capital Partners, an Aventura investment firm, have proposed building a condo tower and public park that would replace the 18-acre Jungle Island that exists today. That plan is slated to go before the City Commission in July, according to a city spokesperson. If the commission approves the proposal, it would then go before Miami voters on the November ballot. The project must go to referendum because of the location on Watson Island, which is city-owned, waterfront land.
READ MORE: Condo development could replace a chunk of Jungle Island theme park in Miami
In addition to the condominium tower, which would take up five acres, the developer’s plans for the site include a 13-acre waterfront public park and a boardwalk connecting the north side of Watson Island to the south side, home to Miami Children’s Museum, according to a statement provided last week by Terra and ESJ Capital Partners. ESJ Capital Partners acquired the lease and rights to Jungle Island in 2017 and brought on Terra as a partner for the residential plans.
The new proposal is a departure from a previous redevelopment plan approved by voters in 2018 that received final City Commission approval in 2021. That project, an eco-adventures resort that included a 300-room hotel, zip line course and water slides, was also led by ESJ Capital Partners, which said that plans changed because the market is different than it was six years ago.
“The world changed through Covid, and Miami’s urban core grew and evolved exponentially,” Arnaud Sitbon, president and CEO of ESJ Capital Partners, said in an email. “These changes in the community, coupled with ESJ’s focus to help ensure the best use of this property, prompted us to pivot from the hotel model to a residential model.”
READ MORE: A Miami theme park may see major change. Take a look at the attraction through the years
Sitbon said Jungle Island will continue to operate in its current capacity until the referendum and “subsequent process” is complete. He said his team is exploring potentially relocating the theme park’s animals elsewhere but did not provide further details.
Sitbon added that, under the new plan, the city would receive a boost in property taxes and public space.
The previous hotel plan was approved by 59% of voters in a 2018 referendum. To be viable, the condo proposal would need more than 50% approval on the November ballot.
This story was originally published June 11, 2024 at 11:37 AM.
.jpg)
