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Old Posted Aug 30, 2018, 9:46 PM
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chris08876 chris08876 is offline
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School Board To Vote On Deal For 60-Story Towers Across From Arsht

The School Board of Miami Dade County will vote on a deal next week that could bring 60-story towers across the street from the Arsht Center.

The deal could also eventually lead to the entire 9-acre School Board property at 1500 Biscayne Blvd. being redeveloped – one of the largest development sites in downtown Miami.

Approval of the first deal is recommended by School Board Supervisor Alberto Carvalho, with Crescent Heights having beaten out two other bidders for the land.

The developer wants to take control of 1.1 acres of School Board land at 1370 Northeast 2nd Avenue, which will be combined with an adjacent lot Crescent Heights owns to form a two acre site.

The project could rise up to 60 stories, with up to 1,100 residential units and 1,100 parking spaces to be built, along with 100,000 square feet of office space for the School Board.

Crescent Heights wouldn’t pay any cash upfront for the land. Instead, Crescent Heights will deed over 600 parking spaces to the Omni CRA, and build out 100,000 square feet office to be deeded over to the School Board. The life of the CRA must be extended, and the CRA board must also vote to approve the deal.

The 600 parking spaces will be shared with the Arsht Center.

If the deal goes through and the School Board is able to move out of their current offices, the Board would look to have the entire 9-acre site currently housing their headquarters “monetized,” Carvalho told the SFBJ.

Carvalho has not held discussions with Amazon or the Beacon Council about it being a potential location for HQ2, although it would be optimal, he said.
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