Miami legislators are planning to revamp the retail sector of the landmark Flagler Street before the end of the year.
The redevelopment project, called Flagler Streetscape, will cost $13 million for the recreation of its road and sidewalks, and will encouragement economic development in the area. Officials are planning on securing the project's financing before the deadline at the end of May.
“We’re operating under the belief everything will get done by May 27,” Javier Betancourt, deputy director of the Downtown Development Authority, said, “There may be some wiggle room, but we don’t want to even get to that point.”
A special assessment zone is expected to earn $1 million from Flagler Street landlords, $6 million from the city of Miami, and $6 million from Miami-Dade County in unused bond revenue.
Curtis + Rodgers, a design studio based out of Miami, has produced plans for the changes on Flagler Street. The changes will include valet stations, widened sidewalks, restaurant tables, and bike racks. The renovation is projected finish December 2016.
Flagler Street runs from Interstate 95 to Biscayne Boulevard.
Source: therealdeal.com
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