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 portions 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 (affiliated with RUDG, LLC). Key changes from the original Master Lease include refurbishing existing Jackson Medical Towers into 358 residential units and approximately 676 parking spaces, modifying the workforce housing percentage, eliminating a planned hotel tower, replacing an initial rent payment with a capitalized lease payment estimated at $41,331,973, accelerating the construction 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 administer the lease on behalf of the County.