Miami Voters Reject Virginia Key Marina Lease to RCI, Suntex
Miami voters rejected the 45-year Virginia Key marina lease to an RCI Group and Suntex venture, by roughly 65% in unofficial election-night returns.
Illustration- Source Briefing
- Public record
- Also reported by WLRN
Miami residents voted down Referendum 3 on November 3. The measure asked whether the city should hand about 27 acres of waterfront, including the Rickenbacker and Marine Stadium marinas, to Virginia Key LLC, a joint venture of RCI Group and Suntex Marinas. Unofficial returns showed the no side near 65%, and we found no certified totals in the coverage we reviewed.
Why it matters
The lease cannot proceed as drafted. Its terms traced back to a 2017 bid, and a court order had compelled the city to send them to voters unchanged, as in our look at the referendum setup and the ruling that cleared it. City officials called the deal weak ahead of the vote, and critics wanted rent reset to current values.
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Voters also rejected a Virginia Key marina lease in 2021, with about 52% voting no. This time the opposition was larger.
For developers, the message is that public waterfront in the South Florida market gets approved only on new terms that can be defended.
The numbers
Under the rejected terms the city would have received a minimum of $2.2 million annually plus 6% of gross revenues. The land came to roughly 27.62 acres, leased for 45 years with two 15-year renewal options. Voters were not simply refusing to spend: a separate $450 million public safety bond on the same ballot was reported as passing by a wide margin.
What’s next
The coverage we reviewed carried no statement from RCI Group or Suntex after the result and did not say how the city will handle the marinas. The incumbent operator’s challenge to the lease terms was unresolved before the election, and we have not confirmed where it stands. Watch for a new city solicitation and for certification of the final count.
Quick answers
- What is the latest on RCI Group in South Florida?
- Miami voters rejected the 45-year Virginia Key marina lease to an RCI Group and Suntex venture, by roughly 65% in unofficial election-night returns.
- What are the key numbers for RCI Group?
- voted no: ~65%; initial lease: 45 years; min. annual rent: $2.2M; city land: 27.62 acres.
- Where does the information on RCI Group come from?
- The story cites Miami-Dade Elections Department, WLRN and WSVN 7News.
On the record
The official City of Miami special election ballot filed with the Miami-Dade Elections Department put Referendum 3 to voters as a lease of about 27 acres on Virginia Key to Virginia Key, LLC, with an initial 45-year term and two 15-year renewals.
Public record · miamidade.gov
Primary record
- Our coverageOur earlier coverage tracked the court-ordered ballot path for the Virginia Key lease before the November 3 vote.Read our earlier story