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Updated: Miami tells Flagstone to get off its property after developer files $122M lawsuit

Flagstone marina


UPDATE: Miami's city manager on Monday sent a letter to Flagstone telling the developer to get off the city's property and turn over the keys.

Daniel Alfonso demanded in his letter that Flagstone "immediately vacate the property and the easement area and turn over to the City for the City's possession all of Flagstone's rights and interest in the property and the easement area." He said if Flagstone wants to "peaceably surrender the property," it ought to contact the city's real estate director.

"The keys, locks, electronic entrance cards, passes, and their equivalent should be immediately tendered to the City of Miami," Alfonso wrote.

Flagstone Island Gardens has filed a $122 million lawsuit seeking to block the city of Miami from booting the developer off of Watson Island and taking its mega-yacht marina for the public.

In an eight-count complaint that includes allegations of collusion, the developer asks a Miami-Dade judge to void an “invented” declaration by the city that Flagstone defaulted on its master agreement to build a resort on city land off the MacArthur Causeway. Arguing that it is the city that has breached the agreements, Flagstone also demands that Miami officials approve a modified project design, extend a permit allowing for the ongoing use of its marina, and continue to make related payments to the state to keep the project viable.

“As a proximate cause of, and but for the city’s breach of the agreements, Flagstone incurred compensatory damages of more than $122 million in investment, loss of its expected profits, and loss of the more than $3.6 billion in expected value Flagstone created in the project,” states the lawsuit, filed on behalf of Flagstone by attorney Eugene Stearns of Stearns Weaver Miller Weissler Alahadeff & Sitterson.

To read the rest, click here.