AAF Acquires Miami- Overtown Land - $5.4 Million

[spuwho]

All Aboard Florida has closed on the land acquisition in Miami Overtown. $5.4 Million.

Per The Real Deal:

http://therealdeal.com/miami/blog/2015/08/25/all-aboard-florida-closes-on-land-for-overtown-office-tower/

All Aboard Florida closes on land for Overtown office tower



All Aboard Florida just closed on a $5.4 million land deal to build an office building near its downtown Miami rail station.

The development site is a two-acre surface parking lot at 160 Northwest Seventh Street. All Aboard bought the land from the Southeast Overtown/Park West Overtown Community Redevelopment Agency through a deed filed last week.

The site is slated to become 3 MiamiCentral, a 12-story Class A office tower with 130,517 square feet of retail, office and commercial space. All Aboard describes the project as a "multi-use gateway complex" for its larger MiamiCentral development nearby, according to the company's website.

MiamiCentral is a nine-acre mixed-use development that will be the final stop for All Aboards' contentious Miami to Orlando rail service. It will include three office and residential towers on top of the station itself, along a mixed-use supertower on the project's southern end.

Construction has already begun on the station, which is located on Northwest First Avenue between Northwest Third and Eighth Streets.

All Aboard expects service from Miami to West Palm Beach in 2017, with travel to Orlando opening later that year.

[thelakelander]

Gee, these guys aren't playing around when it comes to adding TOD around their stations.