Here comes Miami Beach - Page 4

A South Florida developer wants to turn the quiet coastal community of Pacifica into a glitzy retreat for the Bay Area's richest residents
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Beyond election costs, Peebles says he's spent hundreds of thousands of dollars on experts who've helped him craft a better plan that promotes sustainability compared to what Trammel Crow had to offer.
"I've had an environmental consulting team and contractual consulting team for the last year analyzing this property, analyzing these issues that are necessary," he said.
Affordability is another matter, however. Peebles has suggested to the business press that single-family home prices on the land could range from $3 million to $8 million.
A mixed-use development on the land could still bring millions of new tax dollars to a city that has struggled in the past to find money for emergency services and even basic public works projects.
Loeb and Restivo haven't been without their own rhetoric in the debate. They started a Web site, www.pacificaquarry.org, which prophesies a nightmare traffic scenario on Highway 1 where it bottlenecks into two lanes through town. They add that estimates on potential tax revenue are unreliable without a definite plan.
But their group, Pacifica Today and Tomorrow, has hardly spent enough to even trigger disclosure requirements. And Pacifica remains a modest world, far removed from Miami's glass-and-steel monoliths. Only a man with an ego equal to the size of his development dreams would try to so dramatically alter Pacifica's topography. Peebles says he's confident he'll prevail in November.
Loeb and Restivo recognize that the area won't stay empty forever, and they aren't opposed to all development. Restivo told us he'd be more than happy to consider a commercial and residential project on the site — "but ideally it'd be much smaller." SFBG

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