The Real Deal Miami

Miami River project wants millions in incentives — plus land, from county

Project applied for Economic Development Fund bond to cover part of $38.5M in work

January 08, 2015 05:00PM

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River Landing rendering and Andrew Hellinger

River Landing rendering and Andrew Hellinger

As part of its plan to redevelop the area between the Miami River and the Health District by adding retail and residences, the River Landing project is asking for millions of dollars in assistance from the county.

River Landing Development, led by developer Andy Hellinger, has applied for an Economic Development Fund bond from the county to cover a portion of the $38.5 million in infrastructure and utility work that the project needs. The exact amount the county might cover has yet to be outlined, according to the South Florida Business Journal.

The developer has also requested that the county donate a 1.5-acre site to a nonprofit foundation established by the River Landing Development. The site,  at 1280 Northwest 11th Street, runs along the river and adjoins the project. Instead of paying for the land, the developer is offering to spend $4 million to build a seawall, green space and a public walkway along the river, according to the South Florida Business Journal.

The $300 million project on 8.1 acres would be located at 1480 Northwest North River Drive, a few blocks from Jackson Memorial Hospital and the University of Miami’s medical campus. The plans call for 426,000 square feet of retail and restaurant space, 475 market-rate apartments and 2,200 parking spaces. About 2.5 acres would be public open spaces, Hellinger said.

Hellinger said he believes River Landing fits the criteria for the EDF bond program, which is aimed at game changing projects. The developer’s application said the project would create 980 jobs when completed. [South Florida Business Journal] Ina Cordle

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