PortMiami is in confidential mediation and negotiations to determine the future of the sole marine fuel facility on Fisher Island, Director and CEO Jonathan Daniels said. The county wants to buy the 9.6-acre site to keep fuel flowing to cruise and cargo ships. HRP Group bought the property for $180 million in September 2025 and has planned luxury condominiums there. Commissioners voted July 21 to authorize a purchase through negotiations or eminent domain, with an incentive offer of up to 15% above appraised value. The current operating agreement calls for fuel operations to end by May 2027. The Fisher Island Community Association and the Fisher Island Club have sued over the proposed sale.
Miami-Dade hotels posted the largest percentage gain in the nation in average daily room rate for the week ending Oct. 3. Rates rose 23.5% from a year earlier to $186.73, according to CoStar, while the national average climbed 7% to $172.38. Miami also led the country in revenue per available room, up 43.3% to $123.25.
The county commission approved, without discussion, an agreement letting University of Miami researchers grow coral in a county park on Virginia Key for reef restoration. UM will pay all costs and begin training county staff within six months. Its Rosenstiel School will build, run and maintain the facility through June 30, 2050.
Orlando-based Cogent Bank has opened a banking center at 55 Merrick Way in Coral Gables. It starts with three employees and plans to grow to six bankers. The bank, founded in 2018, mainly serves high-net-worth individuals and businesses, and this is its first South Florida office.
