Biscayne Landing is a 193 acres (0.8 km²) master-planned community located in North Miami, Florida within a 2,000 acre (8 km²) enclave on Biscayne Bay. The site is bordered to the east by Biscayne Bay and Oleta River State Park, Florida’s largest urban park, to the west by commercial developments. [1] It is notable as one of the largest residential projects ever planned on a former Superfund site and a demonstration of the excesses of the housing bust.[2][3] The site also reflects one the largest write-offs in securitized mortgage history with a $196 million writeoff of an initial $200 million investment.[4][5]
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Biscayne Landing is the result of a partnership between the City of North Miami and Boca Developers. The city has leased the former superfund landfill to Boca Developers for two hundred years. As part of the partnership agreement with the city, Boca Developers will match the construction of new residences at Biscayne Landing with an equal number of new or rehabilitated affordable housing units on brownfield sites within the city. In addition, Boca Developers has also committed up to $25 million toward the renovation and expansion of North Miami's library, the construction of an Olympic training facility, and construction of a the David Lawrence, Jr. K-8 School[6].
The Miami-Dade commission has agreed to contribute $31 million of the costs of the Munisport cleanup, using part of a $130 million bond issue earmarked to clean up other polluted sites in the county.
Biscayne Landing’s environmental standing is described as "brownfield," which the government defines as property for which the expansion, redevelopment or reuse may be complicated by the presence or potential presence of contaminants. It is located on the former Munisport landfill.[1]