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Posts Tagged ‘Bouygues Civil Works Florida’

Head office of Royal Caribbean cruise lines at the Port of Miami

Head office of Royal Caribbean cruise lines at the Port of Miami

I recently attended a very informative presentation at the Port of Miami, focusing on current and future projects taking place there. They will surely have a major economic impact on the area activity as well as on international trade of goods going from and to the Port of Miami. The underwater tunnel, being built by Bouygues Civil Works Florida, an US subsidiary of the famous French construction company, will link the Port of Miami to Watson Island – The McArthur Causeway. Once it opens in May 2014, the hundreds of trucks that were getting out of the port through NE 6th street in Downtown Miami, to reach 95 or the Miami airport area, will drive to 395 and 836 ( Dolphin Expressway ) to the Miami airport or major highways. This will help reduce the traffic in the Downtown Miami area. It will also help develop the industrial real estate market, which is already dense West of the airport and enhance international trade  ( or increase the number of cargo going to or from Miami ).

Also, a $22 million federal grant will fund a development that will link the port to US railroads, allowing thousands of trucks to come out of the port and stay off the main roads. Construction for this project starts in the summer of 2013. Another massive project will help “rebar” the port which will allow to stack goods higher and improve stock capacities. There is more to come as another ambitious project will enable to get a 50 foot dredge at the Port of Miami, which will attract many more cargo ships. Big vessels are currently avoiding Miami as they simply can’t stop there, considering that the port is currently limited to receiving 42 foot deep ships. This project alone should start in 2015 and cost $150 millions !

The cargo side of the Port of Miami

The cargo side of the Port of Miami

The Port of Miami should then be able to compete with other major US ports such as Los Angeles/Long Beach, New York, or Houston, create approximately 33,000 additional jobs and boost international trade with Miami. These are very exciting news, considering that Florida already attracts an average of 89 million visitors a year, that the Miami International Airport was the first international freight and second international passenger airport in the United States in 2011 and that Miami already hosts 70 consulates and more than 20 trade offices.

For anyone interested in attending a tour of the Port of Miami and learning more about the  impact of these developments on the local real estate industry and international trade, do not hesitate to contact me.

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