Five development teams compete to redevelop St. Thomas University campus in Miami Gardens
Five development teams have submitted statements of qualifications to redevelop the St. Thomas University campus in Miami Gardens, the university said.
St. Thomas set Sept. 11 as the original deadline and is reviewing the submissions as it decides which teams will move to the request-for-proposals stage. Craig Henderson, the university’s senior vice president for strategy and chief of staff, said St. Thomas is pleased with the quality of submissions and expects to complete this phase of the review in October.
The five teams are Michaels Student Living/Republic Properties; Landmark Properties/Pinnacle Development Group/BKV Group; Sonnenblick Development; 13th Floor Investments/Adler Properties/ANF Group; and The Steinbridge Group/Silverstein Properties.
Robert Alfert Jr., a partner at Nelson Mullins who is advising the university on the development process, said the university received proposals from multiple national-caliber companies organized as multidisciplinary teams. He said the statements of qualifications address a range of real estate assets tied to the university’s development goals.
The university is reviewing the submissions with input from academic units, the College of Law and other university leaders. Officials said the process is continuing despite a recent change in university leadership.
St. Thomas extended the evaluation period through mid-to-late October to allow more time for review. If the university conducts proposer interviews, they are expected in early November. A selection committee shortlisting meeting is planned for mid-November, and the university expects to issue the request for proposals in late November.
Developers that advance to the RFP stage will be asked to submit more detailed development plans, financial and deal terms, schedules and, potentially, schematics and legal terms, Alfert said.
The process could take another six months after the RFP stage, according to the university.
