A co-owner of MasTec has proposed a potential $500 million mixed-use development on land owned by Miami-Dade County. According to the South Florida Business Journal, the project would span 146.8 acres and include workforce housing, retail space, a hotel, warehouses and recreational facilities such as sports complexes.
The County Commission is set to review the proposal next week with Juan Carlos Mas leading the project. The terms of the proposal state that over a 30-year lease term, the tenant would pay $17.33 million in rent while also investing at least $500 million into construction costs and contributing at least $15.6 million towards public infrastructure projects.
Additionally, it is expected that this development will create approximately 767 jobs for local residents. The contract outlines specific requirements for various components of the project including: at least 1,000 multifamily units; minimum retail space of 65
