Delayed $3B Brightline project to launch service this weekend

Downtown Miami station won’t open for a few months

TRD MIAMI /
Jan.January 11, 2018 02:30 PM

Rendering of Brightline and Patrick Goddard (Credit: Brightline)

All Aboard Florida’s high-speed rail is set to finally launch to the public this weekend.

Brightline, the service that will eventually link Miami to Orlando, has been long awaited by the local development and tourism industries. Service between Fort Lauderdale and West Palm Beach will begin operating first, on Saturday, about six months behind schedule. The downtown Miami station is expected to launch service at some point over the next few months, according to a press release.

The company also promoted Patrick Goddard to president. Over the past year, two executives working on Brightline left – All Aboard Senior Vice President John Guitar joined Blanca Commercial Real Estate and Florida East Coast Industries President and CEO Vince Signorello resigned to launch his own real estate investment and development firm.

All Aboard’s $3 billion development is being privately financed through a combination of debt and equity. Brightline has said that the three South Florida rail stations are surrounded by about 4 million square feet of new development.

In downtown Miami, plans call for 1.5 million square feet of development covering six blocks around the downtown station, including 800-plus residences, 165,000 square feet of retail space and 300,000 square feet of Class A office space. In July, FECI closed on $130 million in EB-5 financing for the mixed-use MiamiCentral station.

In West Palm Beach, All Aboard is also building a 275-unit apartment complex next to the station. Developer Michael Masanoff is also planning a $300 million mixed-use Transit Village a few blocks away.

And in Fort Lauderdale, the company’s plans include a seven-story parking garage next to the Brightline station with 1,570 square feet of retail on the ground floor.

Brightline released introductory rates, starting at $10 per segment, for trips between Fort Lauderdale and West Palm Beach. A trip that can take about two hours in rush hour by car is expected to take 35 minutes via Brightline, the company said.


Related Articles

arrow_forward_ios
Virgin Trains (Credit: iStock)

All aboard? Miami-Dade to start discussions with Virgin Trains over major expansion

All aboard? Miami-Dade to start discussions with Virgin Trains over major expansion
Richard Branson (Credit: Virgin, Cindy Ord/Getty Images)

Virgin Trains seeks $350M to build five stations in Miami-Dade

Virgin Trains seeks $350M to build five stations in Miami-Dade
Brightline passenger train in West Palm Beach

Brightline reborn a Virgin: Some key numbers ahead of the train’s rebranding

Brightline reborn a Virgin: Some key numbers ahead of the train’s rebranding
Brightline, Versaille restaurant, Cafe Boulud

Brightline, Versailles, Cafe Boulud to lay off hundreds in South Florida

Brightline, Versailles, Cafe Boulud to lay off hundreds in South Florida
Brightline president Patrick Goddard and Park-Line Miami (Credit: iStock)

Brightline launches leasing of apartment towers at MiamiCentral

Brightline launches leasing of apartment towers at MiamiCentral
2965 West Corporate Lakes Boulevard and Black Creek Group CEO Raj Dhanda (Credit: Google Maps, Blue Vault)

TIAA sells Weston warehouse for $33M

TIAA sells Weston warehouse for $33M
Daily Digest Miami

Gil Dezer, Related complete Residences by Armani/Casa, hedge funder, wife drop $105M for Palm Beach estate

Gil Dezer, Related complete Residences by Armani/Casa, hedge funder, wife drop $105M for Palm Beach estate
(Credit: Redwood Media Group)

Developers and brokerages are getting creative for Art Basel

Developers and brokerages are getting creative for Art Basel
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...