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 second phase of the redevelopment will refurbish existing Jackson Medical Towers structures into 358 residential units and approximately 676 parking spaces. Key changes from the original master lease include modifying the income mix for residential units (minimum 20% workforce housing, maximum 30% unrestricted), eliminating a planned hotel tower, replacing an initial rent payment with a capitalized lease payment estimated at $41,331,973, accelerating construction completion to December 2029, and adding provisions for a vocational high school sublease and a parking space lease-back option for the Public Health Trust. The estimated cumulative rental revenue over the term is $534,923,191. The Public Health Trust is authorized to execute the lease and administer its terms.