Coral Gables approves Miracle Mile improvements

Miami /
Aug.August 29, 2014 12:45 PM

Long-discussed streetscape improvements for Miracle Mile and Giralda Avenue in downtown Coral Gables were approved by city commissioners earlier this week.

Initiated by the Business Improvement District of Coral Gables, the $19 million phased project will include wider sidewalks, public art displays, open plazas and numerous cosmetic upgrades to the streets. Proponents want to create a more pedestrian-friendly downtown area that resembles Miami Beach’s Lincoln Road. Giralda Avenue, known in the city as “Restaurant Row,” will be closed to vehicular traffic at certain times.

The city is preparing a Request For Qualifications for a project designer. It plans to issue a General Obligation Bond to fund half of the improvement costs. Property owners within the Business Improvement District are being assessed the other half over a 20-year period, with pre-payment options available.

City officials are also reviewing subsidies and other financing sources to potentially reduce the district assessments. — Eric Kalis


Related Articles

arrow_forward_ios
Constellation's Eduardo Otaola and Boschetti's Jose Boschetti with rendering of proposing a 15-story, mixed-use luxury rental project (LinkedIn, Boschetti Group, Arquitectonica, Getty)
Developers propose mixed-use luxury rentals in Coral Gables
Developers propose mixed-use luxury rentals in Coral Gables
Randy Walker with 60 Edgewater Drive (ExCo Group, Brown Harris Stevens)
Gables Club developer Marc Kovens sells his penthouse
Gables Club developer Marc Kovens sells his penthouse
Gables Club Tower II at 60 Edgewater Drive in Coral Gables (Condo.com, Getty)
Coral Gables closing tops Miami-Dade’s weekly condo sales
Coral Gables closing tops Miami-Dade’s weekly condo sales
Deerwood Town Center at 12085-2107 Southwest 152nd Street in Miami-Dade County, One Biscayne Tower at 2 South Biscayne Boulevard in Miami and 2990 Ponce office building in Coral Gables with Gildenson Real Estate's Eduardo Gildenson and CP Group’s Angelo Bianco (Google Maps, Gildenson Real Estate, CP Group)
Lease roundup: Quest takes space at One Biscayne Tower & more
Lease roundup: Quest takes space at One Biscayne Tower & more
From left: Belong co-founders Tyler Infelise, Ale Resnik, and Owen Savir (Belong, Getty Images, Google Maps)
Lease roundup: Rentals manager Belong moves HQ to Brickell
Lease roundup: Rentals manager Belong moves HQ to Brickell
MG Developer's Alirio Torrealba with 3191 Southwest 39th Avenue and 3160 Southwest 38th Court (LinkedIn, Google Maps)
MG completes Miami apartments dev site assemblage
MG completes Miami apartments dev site assemblage
Terranova’s Stephen Bittel with 93 Miracle Mile
Terranova plans retail-and-office project on Coral Gables’ Miracle Mile
Terranova plans retail-and-office project on Coral Gables’ Miracle Mile
SecureSpace’s Nathan McElmurry with 2811 Coral Way
SecureSpace pays $23M for Coral Way self-storage facility
SecureSpace pays $23M for Coral Way self-storage facility
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...