Swire Properties has a deal to buy an additional 22,000 square feet of property along South Miami Avenue, with the goal of enhancing the public right of way around the Brickell City Centre project.
As part of the complex deal, the City of Miami will spend $4.865 million to buy two parcels located at 602 South Miami Avenue and 614 South Miami Avenue from a State of Florida agency. Swire will donate $4.165 million towards the purchase, with an additional $700,000 coming from street easement fees paid by Swire. The city will then turn around and sell the properties to Swire at a price of $4 million while guaranteeing Swire’s right to develop the property.
According to the text of a city resolution, ‘The property once conveyed will be utilized solely to improve, enhance, enlarge and reconfigure the public right of way in and around 6th Street and South Miami Avenue, which serves the valid municipal purpose of enhancing pedestrian and traffic flow and thereby facilitating the safe passage of pedestrians and vehicles on our public streets’.
One of the properties houses an office of Florida’s Department of Juvenile Justice. In 2006, Brickell area leaders had expressed concern about the facility where hundreds of youth offenders were reporting to weekly, according to an article by Eric Kallis.
City commissioners will vote on the sale next week.