GROUND LEASE AGREEMENT FOR COUNTY-OWNED LAND LOCATED ON PHT

Board of County Commissioners · 2026-07-21 · resolution

Miami-Dade County Commissioners approved the bifurcation of a ground lease agreement for county-owned land. The project involves workforce and affordable housing development on a portion of Folio Nos. 01-3135-045-0010 and 01-3135-045-0020. The developer, RUDG, LLC, is assigning lease rights for the second phase to Residences at Wagner Creek, LLC. Key changes from the original master lease include refurbishing existing Jackson Medical Towers into 358 residential units (instead of demolishing and building new), modifying the workforce housing unit percentage, eliminating a planned hotel tower, replacing an initial rent payment with a capitalized lease payment of approximately $41,331,973, accelerating the construction completion date to December 2029, and adding provisions for a vocational high school and a parking lease-back option for the Public Health Trust. The total estimated cumulative rental revenue over the term is $534,923,191. The Public Health Trust is authorized to administer the bifurcated lease.