Meridiam Becomes Lead Investment Partner in Miami Beach Monorail Consortium’s Beach Corridor Plan

The Miami Beach Monorail Consortium has announced that the global infrastructure investment firm Meridiam has become the lead investment partner for the Consortium’s proposed mass transit monorail that would connect Downtown Miami and Miami Beach. The company, which has over $8 billion in assets under management across the globe, previously took over and completed the Port of Miami Tunnel project. The tunnel’s infrastructure required a workforce of 7,000 people, 83% of which came from the local community.

Over the past 30 years, studies have shown that the Interstate 395/MacArthur Causeway Beach Corridor is in need of a robust mass-transit solution that can benefit both visitors and regular commuters. The Miami Beach Monorail Consortium hopes to fulfill this public transit need for commuters and visitors alike with the County’s Strategic Miami Area Rapid Transit (SMART) Beach Corridor plan. The Corridor, which runs from the Design District and Downtown Miami to the Miami Beach Convention Center area, has been identified as one of the six SMART Plan Corridors by Miami-Dade County’s Transportation Planning Organization (TPO), which are priority areas that need public mass transit. 

The Consortium presents the monorail as an innovative and modern model that will enhance Miami-Dade County’s standing as a smart city and alleviate traffic congestion on the MacArthur Causeway. The monorail is expected to create more efficient methods of transportation for Miami residents, while also generating thousands of jobs for its construction.

A Parsons study commissioned by Miami-Dade County estimates ridership for the monorail at more than 9,000 passengers per day and suggested elevated rubber tire technology as the best option to use for the Beach Corridor plan. These findings were later approved by Miami-Dade County’s TPO in December 2019.

“We are excited with the possibility of delivering another cutting-edge infrastructure project in Miami that will serve the community for decades to come,” said Jamie Rubin, CEO of Meridiam Infrastructure North America Corp. Meridiam is a founding member of the United Nations Sustainable Development Investment Partnership. “We have submitted a proposal that we hope meets all Miami-Dade County’s requirements to bring a much-needed public transit solution that will connect two of Miami’s most important hubs for residents, tourists and businesses. After the Port of Miami, it will be another sustainable and impactful infrastructure for Miami, dedicated to improving the quality of people’s lives”

“The success of the Port of Miami Tunnel would not have been possible without a strong partnership with hundreds of Miami companies with local knowledge,” said Christopher Hodgkins, Chief Executive Officer for Port of Miami Tunnel. “Meridiam can now utilize the expertise gained through the Tunnel project to once again hire local workers and companies who will help deliver the monorail safely and efficiently.” 

Meridiam joins existing Consortium partners Genting and Aqualand Development, which submitted an unsolicited proposal in 2019 that became the source for a public Request for Proposals (RFP) that is currently being conducted by the County. The Consortium has submitted a proposal with further details on its approach in response to that RFP.

By Isabella Zimmermann

Habitat Development Releases New Renderings of Smart Brickell Condo-Hotel

Habitat Development's planned condo-hotel Smart Brickell, designed by Hernando Carrilo, has released new renderings as the project gears up to break ground. Smart Brickell is located in West Brickell and is expected to break ground in the spring of 2018. The project will feature 3 towers with 170 condo residences and 150 hotel rooms. Condo pricing starts at $290,000 and ranges up to $490,000 while condo units size starts at 558 SF and ranges up to 878 SF. Smart features include Nest thermostats, Lifx Wi-Fi-enabled LED smart bulbs, Samsung’s digital home appliances, and a concierge app. Sales launched in phases and the first condo tower is now 35% sold with sales for the second condo tower expected to launch in Q1 2018. Smart Brickell is targeting a 2020 completion. 

“Our goal is to develop a new Brickell for a new generation,” said Santiago Vanegas, President of Habitat Development. “We want to lead the pack for futuristic living in Miami. Combining the elements of Smart Design, Smart Technology and Smart Use, we are providing a Smart solution to residents and guests in Miami. Everybody wants to be Smart.”

Strategic Miami Area Rapid Transit Plan (SMART) Expected to Cost $3.6 Billion

Strategic Miami Area Rapid Transit Plan (SMART) is finally coming to Miami and will provide a major shake-up to the city's public transportation opportunities. SMART is expected to cost over $3.6 billion and will bring 82 miles of new train rail to the Miami Metropolitan Area. The new routes will feature a first of its kind 9-mile Miami to Miami Beach metro mover route which will cost approximately $1.2 billion in itself. The rest of the mainland routes will be built at-grade. Officials are considering applying for federal funding. Local funding would allow ground-breaking on all 6 transit corridors to begin with 2 to 6 years. The city of Miami is looking at using increased sales tax, MDX toll revenue, auto tag renewal fee revenue, new parking violation measures, increased gas taxes, TIF financing as options to help locally finance the project.

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