GROUND LEASE AGREEMENT FOR COUNTY-OWNED LAND LOCATED ON PHT

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

Miami-Dade County Commission 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, now termed the Phase 2 Lease, will be with Residences at Wagner Creek, LLC, an entity affiliated with RUDG, LLC. Key changes from the original Master Lease include refurbishing existing Jackson Medical Towers into a 358-unit residential building with approximately 676 parking spaces (instead of demolition and new construction), modifying the workforce housing requirement to a minimum of 20% and unrestricted units to a maximum of 30%, eliminating a planned hotel tower, replacing an initial rent payment with a capitalized lease payment estimated at $41,331,973, accelerating the completion date to December 2029, and adding provisions for a vocational high school and a public health trust option to lease back parking spaces. The total 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 on behalf of the county.