GFO Investments has officially publicized its redevelopment proposal for the historic Miami-Dade Courthouse located at 73 W Flagler St. First reported by Commercial Observer, the proposal includes a mixed-use residential tower to be built on the northern section of the site. The new skyscraper will replace parts of the existing podium and ground-floor stairwells, meanwhile preserving the courthouse tower in its entirety. The project will feature a combination of condominiums and rental units, along with common spaces, ground-floor retail, ample parking space, and pedestrian green space.
GFO Investments was the sole bidder for the purchase of Miami-Dade’s historic courthouse, after the county opened the property up for redevelopment in April 2022 through an ‘expression of interest’. At the time, county officials had estimated the building’s value at around $53 million. In early 2025, GFO submitted a formal bid to acquire the courthouse for that exact amount. But the payment wasn’t entirely in cash: part of the offer involved a land swap. Under the proposal, GFO would give the county a parcel the company owns at 54 W Flagler Street to cover the remainder of the cost.
In February, County Commissioner Eileen Higgins approved a motion to reject the bid, not because of opposition with plans or the developer, but to give the county more time to negotiate under IO 8-4. IO 8-4 allows Miami-Dade the time to negotiate the land swap and cash incentive, with a private land appraisal to ensure the land is worth the committed cash. “Because we only got one bidder, I think it doesn’t make any sense to send this out again,” Higgins said during the meeting. “We’re only going to get one bidder.”
Once all plans are approved, the developer must respect the historic preservation guidelines put forth by the Miami-Dade County Historic Preservation Board, which include taking steps to curtail harm to the historic structure during the construction of the mixed-use building.