South Miami Metrorail Station

• Station Location: US 1 and Sunset Drive (SW 72nd Street)
• Project: Hometown Station                                                                   
  Phase I: refurbishment of existing garage                                               
  Phase II: 8-story, 178,000 sq. ft office building                           
• Phase III: 13,000 sq. ft. of ground-floor retail space                                  
  Phase IV: 3-story, 150,000 sq. ft. market-rate rental apartments
• Tenant: Hometown Station, Ltd.
• How Initiated: Competitive request-for-proposal process; sole  proposal received in December 1998; the Board of County Commissioners awarded the lease in December 1999.   
• Status: Lease commenced in April 2001. Phase I complete; Phase II incomplete.
• Financial and Term: Annual minimum guaranteed rent plus 5% of gross revenues; 90-year lease.
• Comments: Leased area includes Phase II land fronting SW 59th Place, Phase III land fronting perimeter of rear garage on SW 59th Place and SW 70th Street and rear, triangular garage; Phase IV air rights above the rear triangular garage. Managed area (Phase I) is a front rectangular transit-patron parking garage.
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