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 the redevelopment of Jackson Medical Towers into a workforce and affordable housing development. The second phase (Phase 2 Lease) will refurbish existing structures into 358 residential units and approximately 676 parking spaces, deviating from the original plan of demolition and new construction. Key changes include a modified income mix for residential units (minimum 20% workforce housing, maximum 30% unrestricted), elimination of a planned hotel tower, and a capitalized lease payment of approximately $41,331,973. The construction completion is accelerated to December 2029. The lease also contemplates 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.