Miami Voters Reject Virginia Key Marina Lease

Voters turned down a 45-year lease of about 28 acres of city-owned Virginia Key land to redevelop two marinas.

Updated on Nov. 4, 2026 in City Hall

Miami Voters Reject Virginia Key Marina Lease

Live Poll

Should Miami lease public waterfront land to private developers for marina redevelopment?

Miami voters rejected ballot question #3, which would have leased about 28 acres of city-owned Virginia Key land to redevelop the Marine Stadium Marina and Rickenbacker Marina. As of 8 p.m., roughly 65% voted no and 35% voted yes.

Why it matters

The result means the city must restart the bidding process for the waterfront site, and residents once again asserted their authority over city-owned waterfront leases. Opponents had argued the rent terms were based on a bid that predated the post-COVID rise in property values.

The deal carried a minimum base rent of $2.2 million per year plus a percentage of revenues and an estimated $80 million in marina redevelopment spending. Final certified results and the city's next step for the site were not stated in the extraction.

The players

Virginia Key LLC

A developer composed of Suntex Marinas and RCI Marine Group that sought the 45-year lease of city-owned marinas.

Miami City Commission

The city's elected governing body that placed the lease question on the ballot after a judge ordered it to do so.

The details

The lease would have given Virginia Key LLC, composed of Suntex Marinas and RCI Marine Group, control of the marinas for an initial 45 years. The question reached the ballot after years of litigation over a 2017 proposal, following a judge's order to commissioners.

2017: Original Virginia Key lease proposal submitted, starting years of litigation.
August 2026: Miami voters approved a separate referendum on Marine Stadium operation.
November 3, 2026: Voters rejected the Virginia Key lease and approved bond and charter referendums.

Political Context

The vote reflects the city's voter-approval requirement for waterfront leases, which opponents invoked alongside environmental objections to protect Biscayne Bay. Critics also argued the rent calculations were outdated because they relied on a pre-COVID bid.

For Miami residents, the outcome keeps the Virginia Key marinas under city control for now and means any future lease must return to voters. The city could alternatively run Rickenbacker Marina itself, which would keep its operation in public hands.

The takeaway

Voters signaled that long-term leases of public waterfront land deserve close scrutiny, especially when the underlying financial terms rest on older valuations. Residents who follow city land deals can watch for the next bidding process and any proposal to operate the marinas directly.