Construction is getting underway on PortMiami’s fourth new cruise terminal and following the recent trend the new terminal will feature distinctive architecture to make it a notable addition to the port and Miami skyline.

The new terminal, which is a partnership between MSC Cruises and PortMiami, will also become the largest cruise ship terminal in North America when it is completed in late 2023.

The groundbreaking ceremony was held at PortMiami on March 10 for the terminal that will cost an estimated more than $380 million. According to MSC Cruises and Fincantieri Infrastructure, which is responsible for the construction, the project represents one of the largest investments recently made in the United States by an Italian-led multinational corporation like MSC Group.

According to the Miami Herald, when the Miami-Dade commission approved construction of the terminal in April 2019, MSC agreed to a 50-year lease on the land which is located at the eastern end of Dodge Island beyond the area previously devoted to the cruise ship terminals.

Miami-Dade committed to $8 million in infrastructure improvements at the site to support the development of the terminal, but MSC is responsible for any dredging. MSC pays no rent in the first year of the agreement and then rent starts t $15.2 million in the second year and increases by three percent annually for 30 years. MSC also pays just over $6 per passenger if the passenger count exceeds 2.5 million people in a single year.

(Source)