Big-box retail giant Costco is setting up shop in South Miami-Dade after the Miami-Dade County Commission voted in favor of selling a piece of county-owned land to a developer for the construction of a new store. In a decisive 8-to-5 vote, county officials agreed to hand over 17 acres of land near Southwest 190th St. and 108th Ave. to developer Michael Swerdlow for a sum of $8.1 million, Local 10 News reported.
Questions were raised as the land's reported sales price was tagged below the property’s actual assessed value. Held previously by the Miami-Dade Water and Sewer Department, the tract had not seen use for over 20 years, sitting idle while potentially valuable square footage went to waste. The Business Journal highlights a nod to economic optimism, suggesting that the addition of Costco is expected to inject life into the local marketplace.
Commissioner Kionne McGhee, who championed the proposal, emphasized the boon this development promises the community. McGhee told Local 10 News, “The site in question, acquired by the County for approximately $2.7 million in 2003, has remained unused by WASD, providing no value to the community for over two decades,” He further asserted that “This development will not only add the site to the County tax roll but also create local jobs and deliver lasting economic benefits to residents in the West Perrine Community Redevelopment Area (CRA) and surrounding neighborhoods.”
The area, described as one of the most employment-challenged and facing scarcity in accessible nutrition, is speculated to experience a significant uplift from the introduction of the wholesale giant. McGhee pointed out that the Costco store has the potential to bring an estimated $217 million to the area. In addition, with 400 jobs on the line. As part of the deal, Swerdlow committed to offering 5,000 free memberships to residents earning below $50,000 annually, a gesture which, according to McGhee, aligns with the store's ethos of community investment and should pave the way for more accessible bulk-buy savings for financially strapped locals.
