Miami-Dade county officials have agreed to pay the HRP Group $400m for a parcel of land on Fisher Island, one of the wealthiest zip codes in the US, more than double the $180m the developer paid for it in September 2024. The deal, struck in principle last week, has sparked outrage among local taxpayers and community leaders, who accuse the county of incompetence or corruption.
The land at 1 Fisher Island Drive hosts a Depression-era fuel depot that services Miami's cruise industry, the busiest in the world. When HRP Group bought the site, it planned to demolish the depot and build $2bn condominium towers. However, county officials panicked over the potential loss of the fueling facility, which is vital for cruise lines such as Royal Caribbean and Carnival.
In September 2024, the county board narrowly voted to explore eminent domain to seize the property. This prompted a lawsuit from the Fisher Island Community Association (Fica) and the Fisher Island Club, which sought to block any such move. The legal battle took a sudden turn when HRP Group agreed to sell the land to the county for $400m, netting a $220m profit without developing the site.
Joe Garcia, a former congressman, said: “The only people that have been screwed here are the citizens of Miami-Dade county. There are only three explanations for this. Massive incompetence, criminal negligence or corruption.” Fica also criticised the deal, arguing that taxpayers are left footing the bill for a luxury real estate windfall.
The nearest alternative fuel terminal is 22 miles away at Port Everglades, and losing the depot could threaten hundreds of thousands of jobs tied to the Port of Miami. The county has not yet confirmed how it will fund the purchase, but taxpayers are expected to bear the cost.
