GROUND LEASE AGREEMENT FOR COUNTY-OWNED LAND LOCATED ON PHT

Housing Committee · 2026-07-14 · resolution

Miami-Dade County Board of 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 into a 358-unit residential building with approximately 676 parking spaces. The income mix for residential units will be a minimum of 20% workforce housing and a maximum of 30% unrestricted. The planned hotel tower has been eliminated. A capitalized lease payment is estimated at $41,331,973. Construction completion for this phase is accelerated to December 2029. The agreement also contemplates a vocational high school focused on health sciences and allows the Public Health Trust an annual option to lease back a minimum of 20% of parking spaces. The total estimated cumulative rental revenue over the term is $534,923,191.