A billionaire is raising eyebrows with his proposed private marina in Miami Beach, a further expansion of his already sprawling ownership in the area.
Ken Griffin, founder of Citadel, a hedge fund and alternative investment firm, won the approval of Miami Beach's planning board to build the private marina along the deeper channels of the Port of Miami, according to Business Insider. His vessel, a 308-foot-long superyacht, doesn't fit at the compound he is building on Star Island, where he already owns seven contiguous properties as of 2023, per Realtor.com.
"This is almost an extension of his residence, where his larger boats can be berthed," Griffin's lawyer, former Miami Beach mayor Neisen Kasdin, told the board, per Bloomberg.
Plans for the marina include a two-story building for Griffin's private use that would include a private pool, art gallery, and office space, as well as a facility with a gym and pool for crew members who live on board his yachts while they're docked. The marina can accommodate nine vessels, with four expected to be there on a regular basis.
Griffin already owns a real estate portfolio worth $1 billion in South Florida, including a historic mansion, the aforementioned island, and waterfront land where he's also planning a $2.5 billion office tower.
Building an entire marina to house your super yacht is a real double whammy of excessive wealth and ecological disregard.
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Marinas can disrupt the habitats of coastal areas and lead to increased opportunities for invasive species. And yachts have an ecological impact, releasing 285,000 tons of planet-warming carbon dioxide, as much as the nation of Tonga, according to Bloomberg.
Yachts also contribute to light and noise pollution, and even sitting at the dock can have negative impacts through sewage and other waste dumping, per Fortune. And as CleanTechnica explained, superyachts, with all their guests and crew members, function like floating hotels, with all the energy and consumption requirements dialed up to excess.
It's almost surprising that the board approved such a massive construction project, but its members shared another concern, according to Bloomberg: "private events" for as many as 300 people hosted by Griffin. The board laid out strict regulations for the events, which can cause their own share of noise, light, and physical pollution, like requiring the Coast Guard's authorization for special events, traffic prohibitions, and restrictions on speaker volume.
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