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Freedom Tower Donation Deal With College Near

MIAMI-The long-awaited title transfer by Terra Development Inc. of the 92,000-sf Biscayne Boulevard landmark to Miami Dade College is expected to be completed by Nov. 1.

By Alex Finkelstein | Updated on October 04, 2006

MIAMI-The 15-story, 92,000-sf landmark Freedom Tower building at 600 Biscayne Blvd. will have its 12th owner shortly when the property is formerly transferred by local developer Terra Development Inc. to Miami Dade College. The deal is expected to be completed by Nov. 1, sources familiar with the site tell GlobeSt.com.

The donation was first announced in November 2005 but title transferred was delayed as the developer sought to work out a deal with the city to demolish part of the historic building for the development of luxury residential condos, sources familiar with the transaction tell GlobeSt.com. The city denied the demolition permit but is allowing Terra to develop a 62-story, 685-unit tower behind Freedom Tower.

Terra is also developing a 516-unit residential condo project at 900 Biscayne Blvd. and received city approval last month to build City Square, a 130-foot tall, 641,104-sf retail complex behind the east hall of the $461-million Carnival Center for the Performing Arts.

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