All Aboard Florida Working On A Fifth Downtown Miami Tower And A Fort Lauderdale Rental Tower

All Aboard Florida is in talks to expand their real estate and rail project:

  • The company is in negotiations with the city of Miami for a land swap deal that could allow for a fifth tower to be built as part of the MiamiCentral project. AAF wants to exchange a piece of land that they own near the Miami Arena site, for a parcel next to Government Center
  • Negotiations with the city are ongoing over air rights needed for the train guideways that will run above city streets into the terminal. A vote on the matter is likely later this month.
  • Dade commissioners approved a payment to AAF to place a Tri-Rail station in the MiamiCentral project on a first reading. Talks are ongoing over payments for Tri-Rail from the CRA and the city.
  • All Aboard Florida unveiled plans for a 20-story tower next to the Fort Lauderdale station. In addition, the company wants local officials to consider a deal that could redevelop and add new towers to property currently occupied by a bus depot, state office towers, and city hall.

 

 

 

newly propsed tower in fort lauderdale:

 

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Really???
5 years ago

Because they aren’t just a transportation company. They were always real estate developers and figured out a way where they could use a transportation angle to augment the business. Plus it’s hard to”land grab” when you already own most of the land.

Imagine if you owned land way out in the suburbs that wasn’t easily accessible so you got the ideal that if you built a highway out to your land it would make the land more valuable. Same idea. I would share you skepticism if they were asking the city to pay for all the transportation so they could profit. But they’re putting up most of the money themselves.

They’re the ones building everything. How are they going to flip it before anything is built???

Anonymous
5 years ago

Well, that’s not a new idea at all!

Anonymous
5 years ago

Absolutely spot-on Really??? I wonder how some people can be skeptical about anything when the article stated “AAF wants to exchange a piece of land that they own near the Miami Arena site, for a parcel next to Government Center.”

Why would AAF go through the trouble of swapping land with the city of Miami if their only intention is “flipping land” anyway?

Anonymous
5 years ago

Am I the only one thinking that AAF is just a giant Land Grab/Real Estate Ploy? I mean why is a transportation company so interested in becoming a residential developer? I smell land flips at crazy prices and never actually completing anything. “Call me skeptical”

MrDreTheOne
5 years ago

It has more to do with the fact that they are looking to cash in on some of their gargantuan investment in the short term; as they know the trains will take a longer time to produce some ROI.

marc
5 years ago

Because it’s part of their business plan to help passenger train be viable.

Anonymous
5 years ago

Because controlling the surrounding real estate is how mass transit in Hong Kong, Japan, etc. actually turns an operating profit.

Anonymous
5 years ago

I agree. I have said from day one this is all about real estate and freight. I doubt AAF will be successful but I may be wrong. If the train does fail, the real estate and freight infrastructure stays.

Anonymous
5 years ago

They own nearly all the land, and have owned it since the turn of the last century.
It’s not a land grab. Do they bring in resi/office development partners? That is more than likely.