The Real Deal Miami

Swire to pay Miami-Dade County for Metromover invasion

Swire is covering the $4.6M in construction costs including station upgrades

October 14, 2015 03:00PM
By Francisco Alvarado

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Brickell City Centre construction

Brickell City Centre construction

Swire Properties will pay Miami-Dade County $635,040 for adding a little more wiggle room to the Brickell City Centre Metromover station.

On Wednesday, a transit committee of Miami-Dade commissioners unanimously recommended approval of an amendment to a development, maintenance, and easement agreement between the county and Brickell City Centre Project LLC, the Swire entity building the mega mixed-use multi-tower project.

Three years ago, the county leased four parcels located adjacent to and under the Metromover system between Southeast Sixth Street and Southeast Eighth Street near Brickell Avenue. The Eighth Street Metromover station is being integrated into Brickell City Centre by adding a new level that will have direct access to a hotel lobby of the $1 billion complex.

Swire is covering the $4.6 million in construction costs including station upgrades such as a new elevator, a new escalator, and new stairs on the north side of the station. A Swire spokesperson did not immediately respond to an email seeking comment.

Swire agreed to pay the county a one-time guaranteed payment of $1.1 million, $50,000 a monthly installments during construction, and $2,100 in monthly rent when the station reopens for service, according to a memo from Miami-Dade Mayor Carlos Gimenez. The station was closed last August for construction, Miami Today reported.

Gimenez’s memo states that Swire required an additional 2,240 square feet not part of the agreement. The county and Swire negotiated a price of $635,040. Swire also has to provide the station with property maintenance during the 96-year-term of the contract.

When completed, Brickell City Centre will include two luxury residential towers, two mid-rise office towers, a hotel and a 500,000-square-foot luxury retail shopping center anchored by Saks Fifth Avenue, Cinemex theatre and other leading fashion retailers and luxury brands. According to a Swire press release in September, the Metromover project will also provide access to transit riders going to the office towers.