Moishe Mana Wins County Nod for Wynwood land swap

Miami-Dade’s Economic Development Committee on Thursday unanimously backed a pending land swap-construction deal between the county and Wynwood developer Moishe Mana.

The deal, which Miami-Dade County Commissioner Audrey Edmonson described as a “win-win,” will come before the full Miami-Dade County Commission for a vote on June 30. It involves the county giving Mapton Holdings, a subsidiary of Mana Wynwood, 1.4 acres of 60,560 square feet of land valued at $6.8 million, located at 270 Northwest 23rd Street, 251 Northwest 22nd Lane, 205 Northwest 22nd Lane, and 2268 Northwest Second Avenue.

Mana Wynwood already owns 30 acres in Wynwood, as well as the massive Dade Foreign Trade Zone, which is located “directly adjacent to the county property,” according to a county memo.

In exchange, Mana Wynwood will give the county 15,715 square feet of land at 2153 Northwest Second Avenue and 2145 Northwest Second Avenue valued at $3 million.

Mana Wynwood will also build a $7.37 million, three-story, 45,912 square foot county facility with 29 indoor parking spaces that will include an office for Edmonson (whose district includes Wynwood), a Puerto Rican Community Center, and an office for the Puerto Rican Chamber of Commerce. About $2.5 million of the facility’s cost will be paid for by a county general obligation bond. The rest of the facility’s bill will be footed by Mana Wynwood.

“They will also give us a line of credit for $5 million,” Edmonson told her colleagues. “So, if they renege [on the deal], the county keeps the $5 million.

Original content from The Real Deal