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Commission delays Watson Island sale after residents cite appraisal gaps
Summary
Commissioners deferred a proposed sale of a 3.2‑acre Watson Island parcel after residents and speakers presented appraisals and argued $29 million understates fair market value; city staff said appraisals accounted for existing lease encumbrances and entitlement caps.
The Miami City Commission on Nov. 20 deferred a vote on a proposed fee‑simple sale of a 3.2‑acre parcel on Watson Island after sustained public opposition and requests for more financial detail.
Residents and speakers described appraisal reports they said valued the property at between $257 million and $342 million and urged the commission to pause and renegotiate. “This is not fair market value,” said Gregory Franco, who said an appraisal…
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