City of Miami City Commission Meeting Agenda 2026-06-25
City Plans 99-Year Ground Lease for Senior Housing
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Description
The City of Miami plans to enter into a 99‑year ground lease with 5350 Flagler Street, LLC for City-owned land at 5350 West Flagler Street to develop affordable elderly rental housing for low‑income seniors. Competitive negotiation procedures are waived, and the City Manager may execute the lease prior to financing closing, contingent on environmental remediation.
Contract Details
Vendor
5350 FLAGLER STREET LLC
Agency
City of Miami, FL
Contract Type
FACILITIES
Document Date
June 25, 2026
Contract Term
Ninety nine (99) year ground lease
Renewal Info
Initial 99-year ground lease term; resolution authorizes amendments, extensions, and modifications, but no explicit renewal terms beyond the 99-year period are specified.
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