The Real Deal Miami

Palmetto Bay’s plans for a new downtown push ahead

Project is expected to cost up to $12M
June 23, 2017 02:15PM

Rendering of Atlantico at Palmetto Bay, a project planned for the village’s downtown

The Palmetto Bay Village Council is moving forward with its plans to build a downtown.

The village council will enter contract negotiations with Acosta Tractors Inc., the first step to building an urban area that’s been in the works for more than a decade, according to the Miami Herald. Palmetto Bay will review a final contract in September.

The project is expected to cost between $10 million and $12 million and would be financed via a county general obligation bond, a grant and other fees. New developments, like FCI Residential’s Atlantico at Palmetto Bay, are in the pipeline.

The area is currently home to old warehouses, vacant land and run-down buildings, the Herald reported. The village plans to install major landscaping islands, new pavers and underground FPL service.

To clear up traffic in the area, the village is also adding a new street, Park Drive. The street will run parallel to Palmetto Bay’s main street, Franjo Road. And the goal is to make the area more pedestrian and bike-friendly.

City Manager Ed Silva cited examples like Miami Lakes, with greater pedestrian accessibility, street parking and walkways. [Miami Herald]Marianna Kaimakliotis