Investors Eyeing Former Bertram Yacht Facility As Potential Site For Megaproject

Mar 30, 2015 No Comments by

Across from the Miami Intermodal Center, investors are eyeing the former Bertram Yacht Facility as the potential site for a megaproject.

Alecta, a Swedish pension fund, bought the 22-acre property in 2011 for $17 million. Soon after, Bertram moved out.

Earlier this month, Alecta renewed an agreement with Miami-Dade County to bring water and sewer to the site for over a thousand hotel rooms, hundreds of thousands of square feet of office space, along with residential and retail space. Alecta had inked the agreement last year for water and sewer, but it was due to expire.

Since Alecta bought the property, it has been the subject of rumor and speculation. When the Miami Herald sold their downtown Miami complex to Genting 2011, the paper was said to be in talks to make the Bertram site their new home (they eventually moved to Doral.)

Recently, Miami-Dade commissioner Xavier Suarez has been pushing the site as a possible location for a soccer stadium for David Beckham. Suarez told the Miami New Times recently that Shoma Development’s Masoud Shojaee has been ‘slowly collecting’ land in the area. Records still show the property to be controlled by Alecta, and a sign on the site says that it is available for sale.

A website registered in 2011 by Borghese Investments touts a project called Miami International Centre for the site. It says that there will eventually be over 1 million square feet of master-planned space.

The Bertram property has frontage on the Miami River, and is surrounded by a gritty district of warehouse and industrial uses. A short distance away is the surprisingly beautiful Palmer Lake, surrounded by lush, tropical foliage. Also within walking distance are the verdant fairways of the Melreese Golf Course, a sharp contrast to the hustle of the adjacent airport.

Planned for the site, according to Alecta’s recent application for utilities:

  • 1,368 hotel rooms hotel
  • 649 residential units
  • 797,350 square-feet of office space
  • 42,850 square-feet of retail
  • 53,200 square-feet of restaurant space

 

Source:  The Next Miami

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Industry News, Miami-Dade County Multifamily, Miami-Dade County Office, Miami-Dade County Retail, Multifamily, NA, Office, Retail
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