Boom or Bust: Miami

New York-based Fortress Investments has acquired Florida East Coast Industries for $3.5 billion in a deal that gives the New York fund management firm control over rail lines that were originally created by Henry Flagler in the 19th Century. The rail lines pass through the urban core of several Florida cities including Miami, and are ideal for the expansion of the mass transit rail system. One of the FECI lines runs through Uptown parallel to Midtown. Armando Codina, principal of Flagler Development, an FECI subsidiary, is the biggest shareholder in the deal.

Map: Blue line represents existing FECI rail line (probable future passenger line) in M&E and Uptown area