Soffer family wants $5M bond for airport expansion project

Turnberry Airport Holdings is planning a $28M project at Opa-Locka airport

Miami /
Mar.March 12, 2018 10:30 AM

Jeffrey Soffer and Fontainebleau Aviation

The Soffer family is requesting a $5 million bond grant to expand its jet center at Miami Opa-Locka Executive Airport.

Turnberry Airport Holdings is seeking approval of the grant from Miami-Dade County’s Economic Development and Tourism Committee on Thursday and then from the county commission in April. The billionaire family would use the county bond for a $27.6 million project at the airport, where it leases 41.4 acres, according to the South Florida Business Journal.

Turnberry’s project calls for a 30,000-square-foot hanger and 57,000-square-foot executive and maintenance office for Fontainebleau Aviation. The county bond money would be used to pay for the public infrastructure.

The billionaire family’s aviation company would have to meet certain job creation requirements to receive the grant, the newspaper reported. It generated $17.7 million in revenue in 2016, an amount projected to increase to $26 million in 2020 with the expansion. [SFBJ] – Katherine Kallergis


Related Articles

arrow_forward_ios
Robert Finvarb and Abraham “Abie” Hidary with the site at 2534 North Miami Avenue (Koniver Stern Group)
Hidrock Properties, Robert Finvarb pay $13M for Wynwood site
Hidrock Properties, Robert Finvarb pay $13M for Wynwood site
The current Miami Beach North Shore library with Mayor Dan Gelber (Google Maps, Gelber)
Miami Beach seeks buyers for city-owned development sites
Miami Beach seeks buyers for city-owned development sites
Developer David Edelstein and Robert Levine of RAL Development with the project (Getty, RAL)
David Edelstein, partner close on missing piece of Wynwood assemblage for office towers
David Edelstein, partner close on missing piece of Wynwood assemblage for office towers
David Grutman and Pharrell’s Goodtime Hotel had received nearly 30 noise violations (Carma Connected, Getty)
Too much of a good time? David Grutman and Pharrell’s Goodtime Hotel could lose entertainment permit
Too much of a good time? David Grutman and Pharrell’s Goodtime Hotel could lose entertainment permit
Related Companies Chairman Stephen Ross with One Flagler (Related, Getty)
Prayers answered? Related Companies closes on church site for planned office tower in downtown West Palm
Prayers answered? Related Companies closes on church site for planned office tower in downtown West Palm
Grover Corlew principal Mark Corlew with Bank of America Tower in Boca Raton (Grover Corlew)
Grover Corlew buys Bank of America Tower in Boca Raton for $45M
Grover Corlew buys Bank of America Tower in Boca Raton for $45M
The partially collapsed 12-story Champlain Towers South condo building (Getty)
Inside the tug-of-war over the Surfside condo site’s future
Inside the tug-of-war over the Surfside condo site’s future
Moishe Mana and the downtown parking lot he purchased (Google Maps, Getty)
Moishe Mana expands downtown Miami assemblage with $12M purchase
Moishe Mana expands downtown Miami assemblage with $12M purchase
arrow_forward_ios

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

Loading...