Florida East Coast Industries buys more land for MiamiCentral project

The planned development will integrate rail, residential and retail components

Feb.February 12, 2018 12:40 PM

Rendering of Two MiamiCentral

Florida East Coast Industries just closed on two parcels of public land in downtown Miami, locking in another component to its massive MiamiCentral mixed-use development.

FECI and AAF Miami TOD Holdings LLC paid $14 million for the city-owned parcels at 104 Northwest First Avenue. Also included is a half-acre strip of land at 435 Northwest First Court, which runs parallel to Northwest Sixth Street, between Northwest First Court and Biscayne Boulevard.

The deal was approved by city commissioners in 2015, but terms were not worked out till now. As part of the deal, the partnership is required to pay the city $500,000 to build a new city fire station.

The land is near the county courthouse and the Stephen P. Clark Center. According to published reports, parts of Northwest First Avenue were closed in order to realign the street, as part of the multimillion-dollar MiamiCentral project being developed by FECI.

Once complete, the MiamiCentral will rise on an 11-acre site in downtown Miami that will bring myriad apartments, shops and offices to the city. The station will integrate the Miami-Dade County Metrorail and Metromover systems. FECI is also building the Brightline rail system.

Related Articles

ADF lawyer Stuart Sobel and Virgin MiamiCentral

Virgin MiamiCentral station developer and builder to pay $10.5M settlement

South Florida Logistics Center

JPMorgan buys Amazon-leased warehouse next to Miami International Airport

State report finds open gas valve fueled building explosion at Plantation shopping center

Bayside Marketplace is planning another high-rise entertainment venue with a view

Construction of downtown Hollywood high-rise may start soon

South Florida firm, partner acquire Tampa office building for $29.4M

Developer borrows $105M, breaks ground for mixed-use Flagler Village project

Moishe Mana plans mixed-use project with logistics theme next to airport in Panama