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Flagstone Is, Apparently, Going It Alone On Watson Island Megaproject, Again

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Speculation on if/when Island Gardens would continue as an actual thing or finally disappear to that circle of hell where unbuilt megaprojects go has been answered for now. Soon after Related called it quits today, the Flagstone Group released a statement saying that they are continuing with the project as planned, and will be using the "more conventional plan consistent with Flagstone's pre-existing approved design." They also plan to begin site work on the mega-yacht marina by the end of the first quarter of 2014. Naturally, speculation on their ability to do this is expected by just about everybody.

FLAGSTONE's ISLAND GARDENS READY TO MOVE FORWARD WITH SITE WORK AND MEGA-YACHT MARINA CONSTRUCTION Flagstone Property Group, who had been working with the Related companies to expand its approved luxury waterfront mixed-used development, is now moving forward with the project, without Related, with a more conventional plan consistent with Flagstone's pre-existing approved design.

Flagstone is prepared to begin site work construction of the mega yacht marina by the end of the first quarter of 2014. The project, as per the City of Miami's RFP awarded to Flagstone, encompasses the marina, retail, waterfront dining destination, luxury hotel, lifestyle hotel and the residences. Island Gardens has been envisioned as a mixed use waterfront destination which will contain a waterfront public promenade, expansive gardens in association with Fairchild Tropical Gardens, a maritime gallery in partnership with the Historic Museum of South Florida, a fish market, all accessible not only by McArthur Causeway, but also by water taxis from different waterfront locations around Miami and Miami Beach.

Island Gardens, the next generation world-class destination, will create a vital economic engine for Miami and its residents, Miami-Dade County and the State of Florida, generating, in addition to Flagstone's agreed upon rent payments to the City and in addition to the creation of local jobs, millions of dollars in additional revenues to the City, the County and the State.

· Island Gardens coverage [Curbed Miami]