M
iami-Dade County's ambitious redevelopment plan for downtown Miami is set to pit top real estate players against each other in a high-stakes bid for the $10 billion Metrocenter project. Three powerhouse development teams have qualified to submit proposals for the mixed-use project, which will transform 17 acres of county-owned land into a vibrant hub of office and residential towers.

    The three teams, expected to receive the request for proposal (RFP) next year, boast impressive track records in transit-oriented and affordable housing projects. They must demonstrate their ability to secure private financing for Metrocenter's construction. One team consists of Related Urban, 13th Floor Investments, and Merrimac Ventures, all with notable projects under their belts.

    Related Urban is behind Liberty Square, a mixed-income development in Miami's Liberty City neighborhood, while 13th Floor is developing Link at Douglas near Coconut Grove. Merrimac and Aria Development Group are partnering on 600 Miami Worldcenter, a short-term rental-friendly condo tower within the $6 billion Miami Worldcenter complex.

    Another team features Terra, Atlantic Pacific Companies, and Sterling Bay, with notable projects including Grove Central in Coconut Grove and an apartment complex for tenants with intellectual disabilities. The third team is a joint venture between Florida Value Partners, Cornerstone Group, and John Buck Co., which includes affordable housing specialists Cornerstone.

    The Metrocenter plan involves the possible demolition of county-owned facilities, including the Miami-Dade County Commission chambers and the HistoryMiami museum. New buildings will include a Downtown Intermodal Terminal connecting to Metrorail and Metromover stations, 6,000-8,500 new apartments and condos, a cultural arts campus, and office space for Miami-Dade's Parks Department.