Miami Beach voters said no to a bigger, longer deal for the office building just off Lincoln Road.

In the special election, 15,405 voters rejected the lease changes for 1691 Michigan Ave. and 9,203 approved them, county results show. The building sits at Michigan Avenue and 17th Street, the South Florida Business Journal reported.

What was on the table

The city owns the land and garage, and RK Rivani LLC leases it. The developer bought the building, once known as The Lincoln, for $62.5 million in 2024 and spent about $40 million renovating it, the Miami Herald reported. It now goes by Rivani.

The proposed lease amendment set a target of about $50 million for a new phase above the garage, with at least $25 million required. At least 25,000 square feet would have been leasable. The plan capped height at 100 feet and cut required garage parking from 700 spaces to 425.

The ballot question promised about $247.7 million in guaranteed base rent over the 40 extra years, plus an estimated $184.1 million in percentage rent. The percentage rent rate paid to the city would have risen from 2.5% to 3%.

The city's resolution also listed more than $1 million in public benefits, including $500,000 for Lincoln Road improvements and $100,000 for transit. It waived competitive bidding.

Mayor Steven Meiner and five commissioners voted to put the question on the ballot. Commissioner David Suarez voted no. The Miami Beach Democratic Club and the Miami Beach Republican Club both opposed it, the Herald reported.

What it means for buyers and sellers

Nothing changes on the ground for now. The building and its garage keep running under the current lease, which already reaches 2052 before renewals. No new office floors or rooftop restaurant will rise above the garage under this plan.

For people buying or selling near Lincoln Road, that means no construction above the garage and no new office or restaurant traffic from this project.

Nearby plans are still moving. See the dining changes approved for North Lincoln Lane, the rental plan for the old Epicure block and our Nov. 3 ballot guide.

The City Commission is set to accept the final election returns Monday, Nov. 16, at 9 a.m.

Buying or selling in Miami Beach? The Miami Lookout is founded by Joe Biscaha, a Miami real estate advisor with Compass.

Miami Beach City Hall
Miami Beach City Hall, where the commission is set to accept the final returns Nov. Source