Royal Caribbean’s New Terminal Is Approved

Royal Caribbean

It’s official! Royal Caribbean and Miami-Dade County have agreed to approve the building of a new terminal in the Port. An earlier report today by Florida Trend announced the new agreement between the cruise line and the county, which is set to make a permanent stamp to the future economy of the city.

The passing of the measure was unanimous and its approval will allow the port to welcome some of the largest cruise ships in the world.

 

“This new terminal is a symbol of our commitment to Miami, the city where our company first started almost 50 years ago. We can’t wait to bring an Oasis-class ship to PortMiami.” – Richard Fain, CEO of Royal Caribbean Cruises LTD.

 

Reports on the deal mentions that the county will contribute $15 million towards the building and receive $7.5 million in rent. Meanwhile, Royal Caribbean will self-finance the rest of the $247 million project. Completion of the planned terminal is set to be by 2018. Based on the renderings I’ve seen online, it will be a tremendous addition to the area. Furthermore, reports mentioned that the new partnership will provide an immediate economic  impact onto the city, generating up to 4,000 new jobs and create an extra $500 million dollars.

The city’s port is already one of the biggest economic forces in Miami. In my opinion, this will only make it even better. Finally, I attached some of the renderings for the terminal. I have to warn all my readers that it looks incredible.

Royal Caribbean’s New Terminal Renderings

 

Royal Caribbean
Renderings of the New Terminal. Source: Royal Caribbean International

Royal Caribbean Miami

 

I’m looking forward to seeing the finished product 🙂

Last but not least, stay in touch with us for the latest news regarding Downtown Miami real estate! We strive to give our clients a competitive edge through our local knowledge and experience dealing with properties in the area. Call us today at 305-305-3885 or e-mail us at steinmander.m@ewm.com for more.

 

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