A deal between the School Board of Miami Dade County and the developers of the 100-story Waldorf Astoria Hotel & Residences has been recorded in county records.
The agreement will allow development of the supertall tower to proceed. It was entered into on December 5, 2022, and recorded on March 6. The School Board authorized the agreement on October 19, 2022.
School capacity is required in order to obtain development approval for the project from the city, the concurrency deal states, but adequate facilities for public school students would not be available without the agreement.
According to the agreement, the developer have agreed to select the Proportionate Share Mitigation, option, funding one elementary school classroom with 22 student stations.
The mitigation amount under the agreement is $548,526.
Sitework only, including site and soil improvements, is currently underway, according to an amended Notice of Commencement filed on March 9.
The Waldorf is expected to become the first ever supertall tower built in Miami.
