June 29, 2016
With a new signing in an agreement between Royal Caribbean and Miami-Dade County, we may see some upgrades coming to the Port of Miami. A proposed 170K SF cruise terminal is on the table, and could be hosting some of the largest boats in the world as soon as 2018.
The port would be county owned, and county commissioners still need to vote on the agreement on July 6 before its finalized. Along with the staggering $232M, Royal Caribbean will finance for development, the city will cough about $15M for the new roads and surface work, and the company will have a $9.5M annual rent.
This project is expected to roll out an expected 1.8M passengers annually, having an economic impact of $500M for the area, and creating about 4,000 in the process. With such a prosperous project at hand, it will likely be…