Miami Beach Voters Reject Rivani Lease Extension

Nearly 63% of voters opposed a referendum that would have extended a South Beach office building's city land lease to 2132.

Updated on Nov. 4, 2026 in Remote Work

Isometric editorial illustration of a flat sandy lot beside a low modern office block with a single palm tree column, in muted oxblood, teal, and mustard. — Miami Beach voters rejected a referendum Tuesday that would have extended RK Rivani LLC's city land lease under its South Beach office building to 2132, with nearly 63% opposed. AI Illustration. Upload story photo >

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Should your city let developers extend public land leases to add new buildings?

Miami Beach voters rejected a referendum on Tuesday that would have allowed developer RK Rivani LLC to extend its city land lease by up to 40 years, until 2132. The measure, covering the office building at 1691 Michigan Ave. off Lincoln Road, was defeated by nearly 63% of ballots cast.

Why it matters

The rejection halts 47,000 square feet of planned development and keeps onsite parking at 700 spaces rather than cutting it to 475. Critics argued the proposal added density to South Beach with an unclear message about resident benefits, while supporters said it would revive Lincoln Road and generate long-term city revenue.

Voters rejected the referendum by nearly 63%, which would have funded $50 million in upgrades including more office space, a restaurant and rooftop padel courts. The city's projected revenue from the deal was around $432 million.

The players

RK Rivani LLC

The developer that owns the Rivani office building at 1691 Michigan Ave. and sought the lease extension.

Playboy

The media and lifestyle company whose headquarters is housed in the Rivani office building.

The details

The referendum concerned city-owned land beneath the Rivani office building, which houses Playboy's headquarters. Under the proposal, the current lease through 2052, with possible two 20-year extensions, would have been extended to 2132 in exchange for the upgrades.

Current lease expires in 2052.
Possible second 20-year extension would end in 2092.
Voters rejected the referendum on Tuesday, November 3, 2026.

Roadmap

The vote comes as many U.S. cities reassess office development after the hybrid and remote work shift that cut demand for traditional workplace space following 2020. Miami Beach's rejection signals voter skepticism toward office-led density projects in its most visible neighborhoods.

Residents and commuters will see the current 700-space parking supply and existing South Beach office footprint remain in place rather than expanding. Workers who rely on Lincoln Road's offices will not see the proposed 47,000 square feet of new space delivered.

The takeaway

Voter rejections of development deals show that public trust in how city land is leased can shape the future of downtown office space. Residents who want a say in similar proposals should track referendum language closely before election day.