Miami, Florida, voters will decide whether the city should lease public land on the Miami River in downtown to the Adler Group for a residential tower complex, which could include a new municipal building. Designed by NBWW.
Updated August 01, 2018 06:00 AM
November’s ballot is a little longer for Miami voters after commissioners approved one more referendum on leasing public land for private development.
This proposed public land deal might not pack the same star power and controversy of the high-profile, rushed drama of David Beckham’s quest to build a large soccer stadium and commercial complex on Miami’s only municipal golf course. But this proposal involves a prime piece of city-owned, waterfront real estate; a developer who wants to build three new residential towers downtown; a new segment of public riverwalk; and a new $140 million headquarters for the city’s municipal workforce to replace the aging, cramped Miami Riverside Center.
A week after a high-profile vote to hold a referendum on whether the city should lease Melreese Country Club to Beckham and his partners, the City Commission last week agreed to ask voters whether Miami should lease 3.15 acres of city-owned land at 444 SW Second Ave., the site of the city’s 10-story administration building overlooking the Miami River.
In return, the city would receive a new administration building and parking facility, rent payments on its waterfront property, and a cut of future major property transactions from what will be built there: a planned three-tower private residential development with each tower offering housing for different income levels. The new city administration building might be built next to the residential towers, but the city is also considering other sites.
Shall the City enter into a 99 year lease of approximately 3.15 acres at 444 SW 2 Avenue with winning bidder, Lancelot Miami River, LLC? Lancelot shall provide:
▪ Development of mixed use riverfront destination;
▪ New public Riverwalk and other public amenities;
▪ Annual rent equal to the greater of $3,620,000 increased by 1.5% annually or 3% of gross revenues;
▪ Design and development of a new administrative building.
Read the full story HERE >>>> Source: The Miami Herald Should Miami swap land for a new administration building? Voters will decide