City of Miami Awards Facilities Contract to Hrm Owner LLC (July 2023)
City of MiamiCity · Miami, FL- Disclosed value
- Annual rent schedule starting at $1,000,000 and increasing to at least $2,500,000 minimum base rent plus 2.5% of gross revenues; $25,000,000 payment for affordable housing
- From agenda
- Approved
- Jul 13, 2023
- Term
- Ground lease term not to exceed 99 years
The 30-second brief
The City of Miami approved a 99-year amended and restated ground lease with HRM Owner LLC for the Hyatt Hotel and James L. Knight Convention Center site. The deal includes a phased rent schedule, minimum post-construction rent of $2.5 million or 2.5% of gross revenues, and a $25 million payment dedicated to affordable housing.
Hrm Owner LLC holds this facilities contract with City of Miami.
Term as filed: Ground lease term not to exceed 99 years.
See who signed off on this contract.
See who signed offFree account · 30-second setup · No credit card
Contract details
- Contract type
- Facilities
- Amount
- Annual rent schedule starting at $1,000,000 and increasing to at least $2,500,000 minimum base rent plus 2.5% of gross revenues; $25,000,000 payment for affordable housing
- Document date
- July 13, 2023
- Term
- Ground lease term not to exceed 99 years
- Vendor
- Hrm Owner LLC
- Agency
- City of Miami
- Source document
- City of Miami Agenda July 13, 2023 (Agenda)
Hrm Owner LLC's other public contracts
More City of Miami contracts
Questions about this contract
Who was awarded the facilities contract by City of Miami?
Hrm Owner LLC was awarded this facilities contract by City of Miami, as recorded on July 13, 2023. The contract value is Annual rent schedule starting at $1,000,000 and increasing to at least $2,500,000 minimum base rent plus 2.5% of gross revenues; $25,000,000 payment for affordable housing.
How much is the Hrm Owner LLC contract with City of Miami worth?
The Hrm Owner LLC contract with City of Miami is valued at Annual rent schedule starting at $1,000,000 and increasing to at least $2,500,000 minimum base rent plus 2.5% of gross revenues; $25,000,000 payment for affordable housing, covering facilities work.
What type of contract is this?
This is a Facilities contract, documented as a agenda record.
Where was this contract approved?
This contract appears in City of Miami Agenda July 13, 2023 (Agenda), dated July 13, 2023 from City of Miami. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
Show 2 more questions
What other contracts does Hrm Owner LLC hold?
Hrm Owner LLC may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is City of Miami currently buying?
Explore City of Miami's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.