Monorail between Miami and Miami Beach may finally be on track
Casino giant Genting Group is closer to build and operate a monorail between Miami and Miami Beach after getting county’s approval this week. Together with BYD, they ensure the project could be done economically and fast.
With the approval, the companies can now move forward with the bidding process for the transit system. The mayor Carlos Gimenez and the press already released this information:
The project will cost around $400 million. Genting will provide $150 million, and the remaining $240 million would come from local governments: $100 million from Miami-Dade, $100 million from the state of Florida, and $20 million each from Miami Beach and Miami.
Genting also requires an annual subsidy for operations and maintenance, but it will be under $11 million per year.
On the Miami side, Genting is giving its property as a station location; the company wants a land swap for an unknown property in exchange. Now in Miami Beach, no station location or locations have been revealed.
Ticket prices have not been revealed.