Miami Beach voters face a Nov. 3 decision on 1691 Michigan lease

Miami Beach voters will decide Nov. 3 whether to amend the city’s ground lease with RK Rivani LLC for 1691 Michigan Avenue, a city-owned property near Lincoln Road. The question would add two 20-year extension options and allow a proposed expansion above the existing garage. The amendment is contingent on majority voter approval, so the ballot is a decision about future lease rights and conditions, not a report that construction has begun.

The official sample ballot and lease amendment describe two additional options of 20 years each, following the existing renewal options. The new terms also depend on substantial completion of the Phase 2 improvements. A city resolution describes as many as 106 years remaining under the arrangement, but that total should not be mistaken for the two options on the ballot.

What the expansion would allow

The amendment lays out approximately 47,000 square feet of new development above the current parking garage, with at least 25,000 square feet of leasable area. It identifies office space and a rooftop restaurant as proposed uses. Those are plans in a lease amendment, not completed space or confirmed tenants.

The tenant’s investment target is approximately $50 million. The amendment sets a $25 million minimum and says the scope and investment could be reduced if feasibility requires it. The city’s related resolutions also list $1.5 million in additional public benefits. Voters therefore are considering a package with stated minimums and contingencies, rather than a guaranteed final construction budget.

Rent estimates are projections

The ballot lists $247,733,206.12 in base rent and estimated potential percentage rent of $184,140,862.35 during the 40 years covered by the added options. It also estimates that increasing percentage rent from 2.5% to 3% would add $13,261,308.15 over the remaining 64-year term. These are city ballot estimates tied to the lease terms and options. They are not money already collected, and the option-period figures depend on approval and the lease’s conditions.

The amendment sets the garage requirement at 425 total spaces and retains other public-parking provisions. Readers should compare the full lease language rather than interpret the total as a number of spaces being removed: the proposal changes the required count while preserving other parking terms.

Milestones and voting

If voters approve, the amendment requires the tenant to obtain a master building permit by July 1, 2031, and begin construction by Jan. 1, 2034. If a temporary or final certificate of occupancy is not obtained by Jan. 1, 2038, the extra terms would be void. Approval would therefore trigger a set of future obligations; it would not itself mean the building is under construction.

Early voting is scheduled through Nov. 1, from 7 a.m. to 7 p.m., at Miami Beach City Hall, 1700 Convention Center Drive, first-floor conference room, and North Shore Branch Library, 7501 Collins Avenue. The city’s current calendar also says a staffed vote-by-mail drop box will be available at each early-voting site during hours. On Election Day, Nov. 3, voters must use their assigned polling place; verify precinct information with the City Clerk’s election page.

The city posted the ballot, amendment and related resolutions together for public review. 22Miami previously reported the proposed expansion in its coverage of Rivani’s expansion plan; the Nov. 3 referendum is the separate voter decision on the lease changes that would govern that plan.