Miami Dade College’s board of trustees has decided to cancel its massive Biscayne Blvd. project citing a slowing real estate market and burdensome legal process.
Earlier this year the school had issued a request for proposals for a public-private development of its 2.6-acre site at 520 Biscayne Blvd. The proposed project would have included a 100,000 sq. ft. art museum, a 1,600-seat performing arts space and a conference center able to accommodate 3,000 people, along with residential condos.
MDC had issued a request for proposals for a public-private development of its 2.6-acre site at 520 Biscayne Blvd. earlier this year after it had received an unsolicited proposal in 2015 from Nader + Museu LLP. Four proposals were submitted to the MDC board. In the end a project from the Related Group was ranked as top bidder by the evaluation committee. Nader+Museu was ranked second.
This summer, Nader and his team filed a lawsuit in Miami-Dade Circuit Court demanding access to public records related to the bidding process, claiming the college’s board and president had not been transparent in the process. Nader+Museu also had filed a bid protest as well as a lawsuit related to the $2.3 million bond required for the bid protest.
Miami Dade College (MDC) said it plans to “evaluate its options” for redeveloping the site in the future but for now, says the project is too risky. South Florida Business Journal quoted the college as saying: “Due to several risks associated with the project, many the direct result of the hostile conduct of a single proposer, the board decided to move in a different direction and terminate this process. The college plans to evaluate its options for redeveloping the site in the future.”
Related’s proposal included a 75-story condominium tower, a 39-story office tower, a 100-room hotel and private club. Nader+Museu’s proposal included two 50-story residential towers, a hotel, restaurant and culinary market.