The Real Deal Miami

FIU developers ask Miami for $83M bond

If approved, funds would be awarded without taxes
Florida International University’s Biscayne Bay Campus.

Florida International University’s Biscayne Bay Campus.

National Campus and Community Development and Biscayne Properties are asking Miami-Dade County for an $83 million tax-free bond.

The money would be used to build a student-housing complex on Florida International University’s Biscayne Bay Campus, according to the South Florida Business Journal.

The developers have thus far agreed to lease a 4.75-acre site from FIU and build a nine-story, 290,000-square-foot complex with housing for 615 students.

Commissioners will vote on whether to fund the project through the county’s industrial development authority bonds at a May 13 meeting of the Miami-Dade County Commission’s Finance Committee. [SFBJ]Christopher Cameron