After months of delays, Miami’s City Commission has approved the next step in the long-awaited redevelopment of Jungle Island on Watson Island. The city is selling 5.4 acres of land to developer David Martin’s Terra and Arnaud Sitbon’s ESJ Capital Partners, who plan to build a luxury condo tower as part of their Ecoresiliency Miami project.
What’s the Deal?
Voters approved the land sale in 2024, valuing it at $135 million. However, instead of paying the full amount in cash, the developers will provide a mix of payments and public benefits:
- $10 million at closing
- A $37 million public park
- $20 million in public benefits
- $22 million to pay off a federal loan
- Annual payments to the city for 99 years
Most of the current Jungle Island theme park will be converted into a waterfront public park.
Where’s the Money Going?
The city will receive $47 million in immediate value. Commissioners voted to split $35 million evenly among the city’s five districts for affordable housing, with the remaining $12 million going to public safety improvements.
What’s Next?
The final agreement will be revised and brought back for a vote. Meanwhile, this project is part of a broader transformation of Watson Island, where other developers are also set to acquire land for high-end projects.
With luxury condos, a new public park, and millions for community projects, Jungle Island’s makeover is finally happening—and it’s set to reshape Miami’s waterfront.