Miami Beach Voters to Decide Rivani Building Referendum
Residents will head to the polls on November 3, 2026, to vote on a major office lease extension and site development proposal.
Updated on Oct. 22, 2026 in Remote Work
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Miami Beach voters are set to decide on November 3, 2026, whether to approve a lease extension and development plan for the Rivani building at 1691 Michigan Ave. The proposal would extend the city land lease until 2132 and permit 47,000 square feet of new development.
Why it matters
The proposal aims to generate approximately $432 million for the city, though critics have raised concerns regarding infrastructure needs and the reduction of onsite parking. The ballot measure follows a split vote by city officials regarding the project's approval process.
The proposal includes $247.7 million in base rent payments and an estimated $184.1 million in additional rent from revenue. It also seeks to reduce onsite parking from 700 spaces to 475.
The players
Steven Meiner
He is the Mayor of Miami Beach and voted to place the development referendum on the ballot.
RK Rivani LLC
This entity purchased the Rivani building for $62.5 million in 2024 and is behind the proposed lease extension.
Playboy Enterprises
This media and lifestyle company currently maintains its headquarters in the penthouse of the Rivani office building.
David Suarez
He is a city commissioner who cast the dissenting vote against placing the development proposal on the ballot.
The details
The development plan involves RK Rivani LLC, which purchased the property for $62.5 million in 2024 and completed $40 million in renovations. Playboy Enterprises currently maintains its headquarters within the building penthouse.
Timeline
RK Rivani LLC purchased the building in 2024.
The Rivani office building reopened in September 2026.
Voters decide on the referendum on November 3, 2026.
The current city lease for the building is set to expire in 2052.
The proposed lease extension would run until 2132.
Market Landscape
This proposal reflects a trend of cities seeking to maximize revenue from municipal land through long-term commercial lease extensions. It positions the site as a test case for how local governments balance large-scale office development with infrastructure concerns.
Residents should be aware that the plan would significantly reduce the available onsite parking at the 1691 Michigan Ave site. The outcome of the vote will determine the long-term usage terms for this city-owned land through the next century.
The takeaway
Voters are weighing the promise of significant municipal revenue against potential infrastructure and parking trade-offs in the surrounding area. Residents are encouraged to review the specific site plan details before casting their ballots on the measure.
Further reading
Learn more about the local impacts of Remote Work on the regional economy.
Source note: This article includes information reported by Miami Herald.
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