A new seawall has been built and dredging of 13 acres of Biscayne Bay continues in order to create a harbor for mega yachts, according to Miami Today.

The 6.5 acre land on Watson Island is city owned, but the project was approved by voters back in 2001. However, delays kept pushing back the project for years. 

Island Gardens will have residential units, two hotels, 12 - 15 restaurants, shopping mall and 100 foot public promenade along with the harbor for the yachts.