Out to Bid: Miami's $791M permit pipeline, ranked by buyout date

Three general contractors pulled Miami building permits worth a combined $147 million on the same day, Aug. 4. Coastal Construction took a $86 million permit at 50 NE 29th St, Kast Construction took a $31 million permit at 95 NE 40th St, and T & G Corporation took a $30 million, 162-unit permit at 12875 SW 248th St. A permit is the buyout signal, subcontractor bids get let in the weeks right after issuance, and three GCs opening buyout on the same day means three simultaneous demand spikes on the same trade pool: concrete, glazing, MEP, roofing. Widen the window to every meaningful Miami-Dade and City of Miami permit issued since July 20 and this pipeline runs eight projects worth $790.9 million.

Why it matters

A sub who tracks permits instead of waiting for a phone call knows which GC to call first. Balfour Beatty pulled its $226 million Brickell Key permit two weeks before Coastal, Kast and T & G pulled theirs, which means Balfour Beatty’s buyout window on a 215-unit, 27-floor tower is likely already open. The three GCs that moved on Aug. 4 are earlier in that clock, worth building the relationship with now before their scope packages go out. This is the whole gap the Miami construction pipeline has run on wire lines alone: nobody had ranked it by who calls first.

The numbers

• 500 Brickell Key Dr, Miami-Dade County. $226M. Developer Swire Brickell Key Hotel Ltd, GC Balfour Beatty Construction. 215-unit, 27-floor multifamily tower. Issued July 20.
• 887 NW 65th Ave, Miami-Dade County. $158M (actual $157.5M). Developer Waterford Core II Operating LP, GC Brasfield & Gorrie. 450,000 sq ft, 9-floor office building. Issued July 30.
• 1445 N Miami Ave, Miami-Dade County. $104M. Developer 14th Street Development LLC, GC First Florida Constructors. 398-unit, 31-floor tower, 594,815 sq ft. Issued Aug. 5.
• 114 NE 22nd St, City of Miami. $95M. GC Grycon. 503,194 sq ft new commercial construction. Issued July 20.
• 50 NE 29th St, City of Miami. $86M (actual $85.6M). GC Coastal Construction of Miami-Dade. 488,881 sq ft new construction. Issued Aug. 4.
• 3055 NE 4th Ave, City of Miami. $61M. GC Building Block Realty. 194,066 sq ft new construction. Issued July 22.
• 95 NE 40th St, City of Miami. $31M. GC Kast Construction Company Florida. 115,821 sq ft new construction. Issued Aug. 4.
• 12875 SW 248th St, Miami-Dade County. $30M (actual $30.4M). Developer Casa Princeton 248 III Land LLC, GC T & G Corporation. 162-unit, 8-floor multifamily building. Issued Aug. 4.

What’s next

Broward’s only open solicitation, the West Copans transit facility rehab, still has a question deadline of Aug. 10 at 5 p.m. and no released package until Q3. Nothing new to bid there yet. The eight-permit Miami pipeline is the live opportunity: expect buyout packages on the July 20 permits, Balfour Beatty’s Brickell Key tower and Grycon’s NE 22nd Street project, to start hitting the street first, with the Aug. 4 and Aug. 5 permits close behind.