The University of Miami wants to expand its Life Science & Technology Park— and it wants county taxpayers to help pay for it.
The university, through its partner developer, Wexford Miami LLC, is asking the county for $10 million in economic development grants. In return, UM is promising to create a 14-story, 244,000-square-foot expansion of its biotech park, which first opened in 2011.
The $112 million plan includes a hotel and a 646-car parking garage. In the developer’s application with the county, it promises the UM project would create 476 jobs by the end of 2022. The UM biotech center is located near Jackson Memorial Hospital.