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 original Master Lease, approved in January 2025, was for 3.3 acres and envisioned a mixed-use development with approximately 808 multi-family units, parking, a hotel tower, and Metrorail station improvements. This bifurcation, for the second phase (Phase 2 Lease), involves refurbishing existing Jackson Medical Towers into 358 residential units with approximately 676 parking spaces, instead of demolishing and building new. Key changes include a modified income mix for residential units (minimum 20% workforce, maximum 30% unrestricted), elimination of the hotel tower, a capitalized lease payment of approximately $41,331,973, accelerated construction completion to December 2029, a provision for a vocational high school, and an option for the Public Health Trust 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. The developer is RUDG, LLC, and the tenant for Phase 2 is Residences at Wagner Creek, LLC.