Miami voters rejected a proposed deal to lease about 28 acres of city-owned Virginia Key waterfront to a private developer, with roughly 65% voting against the plan on Nov. 3.

The result kills a years-long effort by Virginia Key LLC, a partnership of Dallas-based Suntex Marinas and Miami Beach-based RCI Marine Group, to redevelop the Rickenbacker Marina and Marine Stadium Marina under a 45-year lease. The deal would have included two 15-year renewal options, a minimum annual rent of $2.2 million to the city and an estimated $80 million private investment, according to the Miami Herald.

For Key Biscayne residents, the outcome matters. Virginia Key sits along the only road to the island, and any development there shapes traffic, waterfront access and the health of Biscayne Bay. The Islander News editorial board had called Virginia Key "the Island's front yard and main access" before the vote.

One key criticism: the rent terms were based on a bid Virginia Key LLC submitted years ago, before Miami property values surged, the Herald reported. A court order forced the city to place the question on the ballot after the company sued over the city's failure to do so, WLRN reported. An appeals court in 2025 upheld a finding that the city acted "arbitrarily and capriciously" in not putting the item before voters.

Adam Gersten, owner of Gramps Getaway, a restaurant and bar overlooking Rickenbacker Marina, led a campaign against the deal. Aabad Melwani, the current Rickenbacker Marina operator and co-founder of Preserve & Protect Miami, will continue on a month-to-month lease with the city, according to the Herald. He subleases the Gramps Getaway space to Gersten.

Virginia Key LLC said in a statement to the Herald that it had no plans to stop pursuing the deal.

With the rejection, the Miami City Commission will likely restart the bidding process, the Herald reported. Any new waterfront lease would again require voter approval by referendum. It is the second time voters have struck down a Virginia Key marina deal. In 2021, a competing proposal was rejected by 52%.

School board tax renewed

Across Miami-Dade County, voters renewed a school board tax that helps pay teacher salaries. The measure passed with 82% support, Coconut Grove Spotlight reported.

Madelin Vinat, a civics teacher and union representative at George Washington Carver Middle School in Coconut Grove, said she had not expected such strong support, according to the Spotlight.

Tania Alonso, PTA president at George Washington Carver Elementary School in Coconut Grove and a parent of two students there, said the vote showed local support for teachers and staff, the Spotlight reported.

Amendment 3 hits Key Biscayne budget

Florida's Amendment 3, which increases the homestead exemption for non-school property taxes, passed with about 62% of the statewide vote. In Miami-Dade, support ran at roughly 65%.

The amendment raises the homestead exemption to $150,000 in 2027 and $250,000 in 2028, with inflation adjustments starting in 2029. It also lowers the annual assessment-growth cap on non-homestead properties from 10% to 5%.

The Florida Office of Economic and Demographic Research estimated Key Biscayne's property-tax revenue loss at about $1.05 million in fiscal year 2027-28, growing to roughly $2.25 million by 2029-30, the Islander News reported.

Miami-Dade Tax Collector Dariel Fernandez, who supported the amendment, said local governments should not try to offset the tax cut through higher rates or new fees, according to the Islander News.

$450 million bond approved

Miami voters also approved a $450 million public safety bond with about 61% support. The money will go toward repairing and replacing police and fire-rescue facilities. With debt service, the city estimates the total cost could reach $795 million, the Spotlight reported.

Mayor Eileen Higgins, who proposed the bond, said in a statement she wants all projects completed by 2033. Miami District 2 Commissioner Damian Pardo, who opposed the bond, said in a statement that voters may have approved it "possibly without fully appreciating the financial impact of such a vote on their household."

Voters separately approved a charter amendment creating a bond oversight committee, with 71% in favor.