FYI Miami: November 27, 2014
AIRPORT CONTRACT: The Miami-Dade County Commission is to vote whether to allocate added funds and time for a construction project at Miami International Airport’s North Terminal. Commissioners are to vote Tuesday whether to allocate an added $65 million to the companies contracted for the construction, a joint venture between California-based Parsons Transportation Group and Odebrecht Construction Inc. If commissioners approve the proposed change order, which would be the 13th change order for this project, the overall North Terminal project would increase to about $1.2 billion and the contract would be extended until 2017. If the $65 million additional allocation is OK’d, the funds would come from maintenance reserves, capital funds as well as federal and state grants.
EXPANDING: Fiduciary Trust International of the South is expanding at a pace that necessitates more space and it will be moving from Miami’s Central Business District to The Alhambra in Coral Gables. “We have experienced tremendous growth in our trust and investment services,” said Teresa V-F Weintraub, president and CEO. She told Miami Today this week that Fiduciary Trust International of the South expects to be in its new location by June 1, 2015. A division of Franklin Templeton Investments, the private trust and investment firm leased 12,500 square feet at 2 Alhambra Plaza, a 14-story Class A office tower interconnected with the Hyatt Hotel.
PRICES RISE: The Consumer Price Index for South Florida rose four-tenths of a percent in the two months ended Oct. 31, the US Bureau of Labor Statistics reported last week. But prices other than energy rose 1% while energy prices fell 3.5%, led by a 5.9% plunge in gasoline prices. Food prices for the two-month period were flat, as the cost of food at home fell four-tenths of a percentage point, offset by a seven-tenths percent rise in the cost of dining out. Consumer prices for the area now have risen 2.2% in the past 12 months.
MALL PARKING EXPANDS: Dolphin Mall in West Dade is adding 1,210 parking spaces and improving its valet parking, says General Manager Pete Marrero. Work to be finished this month is converting two vacant parcels of land on the east side of the mall property to surface parking lots, adding 360 spaces. A project to begin in January and end next fall is to build a parking deck near the Sports Authority with 850 parking spaces. A second valet location will open then, he said. The mall is also building 32,000 square feet of restaurant space to add five more eateries. That work is also to be complete by fall 2015.