GROUND LEASE AGREEMENT FOR COUNTY-OWNED LAND LOCATED ON PHT

Board of County Commissioners · 2026-07-21 · 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 structures into a 358-unit residential building with approximately 676 parking spaces, instead of demolishing and building new. The unit income mix will change to a minimum of 20% workforce housing and a maximum of 30% unrestricted, down from 30% workforce and 20% unrestricted. The planned 128-unit hotel tower is eliminated. A capitalized lease payment of approximately $41,331,973 is replacing an initial rent payment. Construction is accelerated for completion by December 2029. A vocational high school focused on health sciences may be established via sublease, and the Public Health Trust has an option to lease back 20% of parking spaces. The total estimated cumulative rental revenue over the term is $534,923,191.