Relentless time has pushed completion of the new Miami-Dade County Courthouse a tad passed its scheduled opening, now set for Jan. 21, according to Kathy Labrada, chief efficiency & compliance officer for the county’s Internal Services Division. Miami Today was given that deadline in early December. In mid-October, Miami Today was given a completion date almost a full month earlier, Dec. 30, 2024. And the completion date before that was October. The current delay, Ms. Labrada told Miami Today, centers on problems programming the fire alarm system for the estimated $262.8 million, 25-story building just across the street from the current courthouse. Construction on the new edifice began in early 2019, Miami Today has reported, so, if it meets its January deadline it’s been about six years in the making. The current courthouse, on the other hand, took four years to build at a cost of $47,000, and it had three more floors than the new building. Even accounting for inflation, $47,000 in 1928 dollars equals $710,000 in 2024 money, a far cry from the new building’s estimated almost $263 million sticker price. Advanced automation technology, sophisticated computers and elaborate security systems, as well as how inflation has affected both labor and material costs, account for the dramatic expense increase. The old courthouse at 73 W Flagler St. is, however, offering something of a financial life buoy to the new courthouse. A bid of about $52.3 million has been submitted for the historic house of justice, proffered by GFO Acquisitions LLC, a division of GFO Investments, known for developing high-end real estate projects, according to the company’s website, “particularly in the condominium, multifamily and hospitality sectors.” The county had set a minimum $52 million bid for the old courthouse, which GFO, the only bidder, exceeded by $300,000, according to Claudia Gonzales Moreno of Levy Public Relations. GFO’s chairman is Russell W. Galbut, 72, a native of Miami Beach. He is a well-known Miami-Dade County real estate developer and philanthropist. Mr. Galbut co-founded Crescent Heights, a prominent real estate development company, and has been involved in developing over 50,000 residential units across the nation. Mr. Galbut, who also serves on the board of Norwegian Cruise Line, could not be reached. His daughter, Marisa, is CEO and president of GFO. Some of the company’s notable projects include: ■Shelborne South Beach, a beachfront property with 220 guest rooms, meeting spaces, and a beach club. ■Gale South Beach, a boutique hotel with 87 guest rooms, a rooftop pool, and a craft cocktail bar. ■Five Park Miami Beach, the tallest tower in Miami Beach, featuring luxury residences and top-tier amenities. ■14 ROC, a 32-story luxury condominium in downtown Miami “offering modern urban luxury residences,” according to brgintl.com, a website dedicated to the luxury real estate boutique market. Multiple issues have delayed completion of the new courthouse including, Miami Today reported in February 2021, the need to move a redundant Florida Power & Light line serving the Metrorail and the relocation of the chilled water pipe system. Other delays included extra time to install utilities, compensation disputes with the courthouse developer, and the current issue of a stubborn fire alarm system. Miami Today reported in mid-2024 that delays were attributed to various factors, including utility relocation, design and construction requirements, and financial disputes between the county and the developer, Plenary Justice Miami. While it has three stories fewer than the historic courthouse, the new one exceeds it in height by more than 100 feet. According to Ms. Gonzales Moreno, GFO expects the old building to become mostly residential. “It will be mixed use, respecting its history, reflecting its grandeur and connecting communities where history and modern life come together.” Related Posts:Miami-Dade Courthouse up for auction at $52 million plusMiami-Dade Courthouse opening target January 2024Battle with developer may slow new Miami-Dade CourthouseCounty courthouse nears apex, but completion date elusivePublic-private project developer should assume cost risksThe post As Miami-Dade Courthouse set to open, historic site gets buying offer appeared first on Miami Today.