One of the co-owners of MasTec has proposed a $500 million mixed-use development on Miami-Dade County’s land. According to the South Florida Business Journal, this project would include workforce housing, retail space, a hotel, warehouses and recreational facilities such as sports complexes. The County Commission will review the proposal next week and it is being spearheaded by Juan Carlos Mas.
The terms of the proposal state that:
– The tenant would pay $17.33 million in rent over a 30-year period.
– The developer must invest at least $500 million into the project.
– At least $15.6 million must be spent on public infrastructure construction.
– A minimum of 767 jobs must be created.
The contract also outlines specific requirements for different aspects of the development including:
– At least 1,000 multifamily units
– A minimum retail space of 65,000 square feet with an emphasis on sports and entertainment themes
– Over one million square feet dedicated to warehouse usage
