GROUND LEASE AGREEMENT FOR COUNTY-OWNED LAND LOCATED ON PHT

Housing Committee · 2026-07-14 · resolution

Miami-Dade County Board of County Commissioners is considering a resolution to approve 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, referred to as the Phase 2 Lease, will be with Residences at Wagner Creek, LLC, an entity affiliated with RUDG, LLC. Key changes from the original Master Lease include refurbishing existing Jackson Medical Towers into 358 residential units and 676 parking spaces, modifying the workforce housing unit mix, eliminating a planned hotel tower, and accelerating the construction schedule. The estimated cumulative rental revenue to the Public Health Trust over the term is $534,923,191, including a capitalized lease payment of approximately $41,331,973. The Housing Committee forwarded this item to the BCC with a favorable recommendation.