Miami Beach readying new P3s

Plans are heating up for the solicitation of bids for two new P3s in the Miami Beach area.

The city of Miami Beach is to issue a request for proposals by the turn of the year for the development of a new housing P3, with solicitation plans also due in the fall for a new parking P3.

Under the housing plans, the city will issue a request for proposals by the end of 2015/early 2016 or the project to provide housing for the city’s workforce. The city has recognized the need to develop housing that would serve households earning 120 to 140%Area Median Income (AMI)

As a result, the Barclay Plaza project will see the creation of new housing units in place of the old neglected hotel site, which will be procured under a design, build, finance, operate and maintain contract.

The property has a surface parking lot that can be developed to double the building area. In addition, The City has site control and is willing to provide developer with long-term lease.

In addition, the city is due to begin solicitation this fall for the development of new parking facilities in the area. Under the plans, the city is seeking to remove on-street parking by developing existing parking lots in the area.

The move comes as part of recently announced wider scale P3 proposals, with Miami-Dade County recently announcing plans to develop a $7.5bn pipeline of deals.