WRE News: Miami Wins Legal Battle for Riverfront Park

Miami, FL – July 23, 2023 -A judge has ruled in favor of the city of Miami’s plan to acquire a parcel of land for a riverfront park through eminent domain, though the cost remains uncertain.

The city has a short window to submit a deposit of approx. $3.5 million, which was determined based on the property’s appraisal value, in order to secure ownership. However, this deposit is not the final price, as the matter will be subject to a jury’s decision on the property’s actual worth.

If Miami proceeds with the purchase from the current owner, South River Warehouse, led by Arturo Ortega, the parcel will be transformed into Simón Bolívar Park. Miami initially offered $4.5 million to South River Warehouse for the land in October 2021, but the firm rejected the offer, leading the city to pursue eminent domain proceedings. Ortega, determined to keep the land, expressed plans to develop a restaurant and water taxi stop on the lot.

Presently, the lot remains unoccupied.