MIAMI (August 17, 2026) – Holland & Knight represented the Miami-Dade County Public School Board in the negotiation and documentation of a 99-year ground lease and master development agreement with Atlantic Pacific Communities LLC for the redevelopment of approximately 10.3 acres of the Arthur & Polly Mays Conservatory of the Arts campus in South Miami-Dade County. The ground lease and master development agreement were approved by the School Board at its August 11 meeting.
The project will deliver approximately 364 affordable and workforce housing units financed through low-income housing tax credits (LIHTC). The transaction is part of the district's broader portfolio strategy to leverage available land to generate capital while supporting school reconstruction.
Under the terms of the agreement, the school board will retain fee simple ownership of the land and receive approximately $12.74 million in capitalized lease payments. The lease includes a workforce housing preference for eligible school board teachers and district employees.
Holland & Knight's work focused on structuring and negotiating the ground lease and master development agreement to protect the school board's long-term interests as fee owner over the 99-year term. This included addressing construction timelines, casualty and condemnation risk allocation, leasehold mortgagee protections, demolition cost mechanics, multiphase LIHTC financing structures and ongoing affordability compliance obligations.
Holland & Knight Partners Vivian de las Cuevas-Diaz and Tomas Castellanos led the Firm's representation of the Miami-Dade County Public School Board. They received assistance from Associate Stephanie Sanchez.