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Major Miami Beach Real-Estate Projects Nixed by Voters – The Wall Street Journal

Miami Beach voters in a series of referendums last week derailed three major real-estate projects from top U.S. developers, reflecting a budding backlash against certain new development plans for the city.

Property developer Stephen Ross, Related Cos. chairman and owner of the Miami Dolphins, had been planning to replace the historic Deauville Beach Resort on Collins Avenue with a new hotel and development. Starwood Capital Management, led by Chief Executive Barry Sternlicht, and Miami developer Don Peebles Jr. have also been preparing to build new office towers near the ocean.

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