The University of Miami has secured approval for a 30-year development agreement that raises the permitted building area on its 241-acre Coral Gables campus to 10.5 million square feet, compared with the previous 6.8 million-square-foot limit. Coral Gables commissioners unanimously approved the changes Sept. 29, allowing hospital development and increasing the university’s enrollment ceiling to 17,500 students.

The agreement adds approximately 3.7 million square feet of development capacity, giving UM more flexibility to accommodate academic, healthcare and commercial uses over time.

Hospital use is now permitted within the campus’s multi-use zone. That change creates a path for a hospital on a site currently used for parking between the University Metrorail station and Watsco Center. The approval establishes the permitted use; it does not set a construction schedule.

The city also expanded the multi-use zone southwest to Red Road and northeast to the Mahoney-Pearson Parking Garage, incorporating the Central Energy Plant building. Retail can occupy up to 20% of floor space within that zone, an increase from 15%.

In exchange for the revised development terms, UM agreed to convey 5.5 acres to Coral Gables for Centennial Park. The property is bounded by Ponce de Leon Boulevard, Carillo Street and Granada Boulevard. City officials say it will become Coral Gables’ largest public park.

The campus-wide floor area ratio increases from 0.7 to 1.0, while the maximum permitted student enrollment rises from 13,000 to 17,500—an increase of approximately 35%. Commissioners approved six ordinances on second and final reading to amend the development agreement, comprehensive plan and zoning code.

The expanded development capacity comes as UM pursues other real estate initiatives, including plans to replace older campus dormitories with new student housing. Its recent off-campus activity includes acquiring a Deerfield Beach medical office building and an apartment property in Miami’s Health District, along with a 42,000-square-foot office lease at Flagler Station.

Source: SFBJ