Related Donates Icon Bay Park to City, Makes Millions Off Deal

Edgewater just got its first new park in a long time and, designed by Arquitectonica, it's small but quite pretty. There's a dog park, a sculpture garden, the works. The Related Group has just officially donated the almost-complete Icon Bay Park to the City of Miami according to Miami Today, and promised that the residents of the building above it, Icon Bay, will maintain the park in perpetuity. The residents will also contribute to maintain the inlet adjacent to the building.

Related built the park partially on private land and partially on a former public street which they were able to get privatized for the purpose, and built the brand new 43 story Icon Bay tower directly above it, utilizing the obviously extremely valuable bay front air rights above the former street. So, the City of Miami got a park for 'free', and Related got to sell a hell of a lot of waterfront condos in the process.

· Related hands Miami a park for free [Miami Today]
· Icon Bay coverage [Curbed Miami]