GROUND LEASE AGREEMENT FOR COUNTY-OWNED LAND LOCATED ON PHT

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

The Board of County Commissioners adopted Resolution R-688-26 approving the bifurcation of the Jackson Medical Towers Redevelopment Lease Agreement with RUDG, LLC for the second phase of development, a 99-year ground lease for workforce and affordable housing on County-owned land. The project involves refurbishing existing Jackson Medical Towers structures into a 358-unit residential building with approximately 676 parking spaces, instead of demolition and new construction. The estimated cumulative rental revenue over the term is $534,923,191 to the Public Health Trust, including a capitalized lease payment estimated at approximately $41,331,973. The Phase 2 Lease is with Residences at Wagner Creek, LLC, an affiliate of RUDG, LLC. The resolution was adopted on July 21, 2026, after a favorable recommendation from the Housing Committee on July 14, 2026. The document does not state any public comment or stakeholder sentiment.