South Florida municipalities are increasingly turning to public-private partnerships to fund development projects that local budgets cannot support independently, with land sales reaching $3.56 billion in early 2025 across Miami-Dade, Broward, and Palm Beach counties. According to Larry Mastropieri, Broker/Owner of The Mastropieri Group, these partnerships allow cities to contribute land or long-term lease agreements while private developers provide capital, construction, and operational management. Cities with limited budgets and rising development costs use these partnerships to move forward without raising taxes, according to market analysis from MIAMI REALTORS, which tracks regional transaction activity.
Housing developments represent the largest segment of P3 activity. The most significant project involves SG Holdings' $3 billion development on 63 acres of predominantly public land in Miami's Little River district, which will deliver more than 5,700 affordable and workforce housing units alongside retail space. Other major housing initiatives include the Magnus Brickell project in Miami, a collaboration between Related Group, Miami-Dade County, and public schools producing a 29-story tower with 465 units including 163 workforce homes, and Fort Lauderdale's The Era, which broke ground in March 2025 on 400 apartments with 210 units reserved for workforce housing.
Sports and recreation infrastructure is another major focus. The Sports Performance Hub in Homestead, led by former NBA player Manu Ginóbili and backed by Riccardo Silva, represents a $280 million investment including a 10,000-seat stadium, hotel, academy, and sports courts. Miami-Dade County has proposed a 47-acre Regional Multi-Sport Park near Trump National Doral featuring tournament soccer fields, stadium seating, pickleball courts, and tennis facilities. Fort Lauderdale's The Fort opened in February 2025 with 43 pickleball courts, luxury suites, dining, retail, and live music programming developed through a P3 structure with the city.
Padel court projects are expanding rapidly, with Miami Beach approving Padel X to construct climate-controlled courts atop two city parking garages at 640 17th Street and 550 Lenox Avenue under 10-year lease arrangements. South Miami is considering a Van Veggel Ventures proposal for five padel courts on the South Miami Parking Garage at 5829 S.W. 73rd Street.
Tourism and entertainment ventures include the Beckham Hotel proposal submitted to Miami Gardens near Hard Rock Stadium and a planned performing arts center, Riviera Beach's efforts to expand Marina Village Phase II as a 90-acre waterfront development, and Fort Lauderdale's Napster Studios headquarters planned as a 162,000-square-foot film and content creation campus on a vacant Superfund site that could support over 1,000 jobs long-term.
The development surge is supported by economic incentives approved separately by South Florida municipalities. ServiceNow received approval for up to $2 million in West Palm Beach incentives in exchange for creating more than 800 jobs averaging $170,000 salary, while Banco Santander was awarded $5 million to support 250 new jobs averaging $115,000 annually in Miami's Brickell Financial District. These wage levels substantially exceed county averages according to U.S. Bureau of Labor Statistics data.
Market participants characterize this as one of South Florida's largest infrastructure expansions in decades, with P3s serving as the primary execution mechanism for projects exceeding traditional municipal budgets. The sharp increase in land investment indicates developer confidence in the region's growth trajectory as cities pursue infrastructure expansion without heavy public spending.
