The Real Deal Miami

All Aboard Florida to spend $320M on real estate for service

Offices, retail and residential spots slated to rise along the track

September 12, 2013 03:00PM

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Rendering of All Aboard Florida train service

All Aboard Florida plans to spend $320 million on the development of largely commercial real estate as part of its passenger train service.

There will be offices, retail, entertainment venues and residential properties developed along the track. The developer estimated the total cost of the project at $2.6 billion

The service will connect Orlando and Miami. The latter station is expected to have more than 1 million square feet of development projected to cost $325 million. Rent at the Miami terminal is $35 million, sources told the South Florida Business Journal.

Last year, Florida East Coast Industries, an affiliate of Flagler Development, put the cost of its proposed plan for the service at $1 billion, as previously reported. [South Florida Business Journal]Mark Maurer

  • Stephen Trevathan

    Well, with international investors spending so much on properties in Florida, I can see why there would be investment on this scale. It’s certainly providing an economic boost for Florida, but some first time home buyers are having problems sealing the deal. I don’t want to drone on too long explaining this further, but I’d suggest checking out this article: