Palmetto Bay’s plans for a new downtown push ahead

Project is expected to cost up to $12M

Miami /
Jun.June 23, 2017 02:15 PM

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


Related Articles

arrow_forward_ios
David Grutman and Pharrell’s Goodtime Hotel had received nearly 30 noise violations (Carma Connected, Getty)
Too much of a good time? David Grutman and Pharrell’s Goodtime Hotel could lose entertainment permit
Too much of a good time? David Grutman and Pharrell’s Goodtime Hotel could lose entertainment permit
Related Companies Chairman Stephen Ross with One Flagler (Related, Getty)
Prayers answered? Related Companies closes on church site for planned office tower in downtown West Palm
Prayers answered? Related Companies closes on church site for planned office tower in downtown West Palm
Grover Corlew principal Mark Corlew with Bank of America Tower in Boca Raton (Grover Corlew)
Grover Corlew buys Bank of America Tower in Boca Raton for $45M
Grover Corlew buys Bank of America Tower in Boca Raton for $45M
The partially collapsed 12-story Champlain Towers South condo building (Getty)
Inside the tug-of-war over the Surfside condo site’s future
Inside the tug-of-war over the Surfside condo site’s future
Westdale president and CEO Joe Beard and Jeff Ardizon and Robert Suris of The Estate Companies with Soleste Bay Village (Estate, Soleste Bay Village)
Estate Companies sells Palmetto Bay apartment complex for $58M
Estate Companies sells Palmetto Bay apartment complex for $58M
Moishe Mana and the downtown parking lot he purchased (Google Maps, Getty)
Moishe Mana expands downtown Miami assemblage with $12M purchase
Moishe Mana expands downtown Miami assemblage with $12M purchase
(Photos courtesy of Miami Historic Preservation, Smith Aerials, Colliers)
Development site near MiamiCentral hits the market
Development site near MiamiCentral hits the market
Alliance Residential Company CEO Bruce Ward and 6595 Morikami Park Road (Google Maps)
Alliance Residential buys site, scores $46M construction loan for senior apartments in Delray Beach
Alliance Residential buys site, scores $46M construction loan for senior apartments in Delray Beach
arrow_forward_ios

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

Loading...