It’s one of Key Biscayne’s last links to “yesteryear.”
NOW, David Martin, CEO of Terra Groupthe self-proclaimed “King of Miami” of real estate development, plans to transform Silver Sands Beach Resort, a quaint motel built in 1956 at 301 Ocean Drive, into a modern, 56-unit, climate-resilient condo with a roof floating. beach bar.
Village Manager Steve Williamson received the news in a letter dated May 13, which he read aloud at Tuesday night’s village board meeting.
Martin wants to meet village council officials at a workshop, probably to come. June 18 or 20 at 6:30 p.m.
He wrote that the building would be “responsibly” constructed to match the current 56 motel rooms, even though those rooms could actually accommodate up to 110 rooms. The 56 units would actually be less than municipal code allows, and the building would be modeled after “Échassesville“, some of these resilient structures still seen standing in the deep waters of Biscayne Bay.
Additionally, Martin would provide the community with “enhanced” beach access while developing “a new level of coastal living” at the Silver Sands site, nestled between the Key Colony and Oceana high-rise complexes.
Property records show Silver Sands was last sold in 1991 for $6,400,000. According to the Miami-Dade County Property Appraiser’s Office, the market value of the 22,473 square foot property in 2023 was $71,143,960. The land measures 164,875 square feet.
As of Tuesday evening, no sale price was available for this latest transaction.
Meanwhile, village officials were working on a pending zoning provision under Florida law that establishes minimum standards for new or reconstructed structures to allow for “reasonable accommodation” for a percentage distribution of commercial zones and mixed-use residential under the Live Local Act. A measure by the village council, which approved an ordinance on first reading in June, would add a layer of protection against affordable housing developers.
Miami businessman Edward Claughton Jr. opened the Silver Sands Beach Resort: Sandbar Restaurant & Lounge in 1956 with 56 rooms and cottages. This retro, family-friendly resort was known for its lush courtyard and sparkling blue pool, where many “Key Rats” learned to swim.
A lot of memories were revived at the restaurant, popular for its key lime pie and push-button waterfall window wash, but Hurricane Andrew destroyed the Sandbar and Eagle’s Nest Lounge in 1992.
Martin, founder Terra Group in 2001 with his father, lawyer Pedro Martin, said he never wanted to be a “traditional developer.” Martin grew up in Coconut Grove, where his business is based.
Martin’s first major project, the Grove in Grand Baie, began a year ago: two 20-story twisted glass towers.
As CEO, he developed 5 million square feet of residential and commercial real estate valued at more than $8 billion. Martin oversees several facets of Terra’s business, including real estate development, design, construction, marketing, sales and leasing.
The group’s flagship properties include Villa MiamiFive Park, Mr. C Residences, The Well Bay Harbor Islands, Botaniko Weston, Park Grove, Grove at Grand Bay, Eighty Seven Park, Glass and Atlantic 15.
