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City of Miami to vote on $250 million Overtown development plan
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A Miami anti-poverty agency is poised to turn over two city blocks in the blighted but historic heart of Overtown to a prominent developer, who promises to spend $250 million to build apartments, a hotel, shops, restaurants and music venues on the long-vacant land. The Miami City Commission, sitting as the Southeast Overtown/Park West Community Redevelopment Agency board, is set to vote Thursday on the bid by R. Donahue Peebles, whose Overtown Gateway plan scored the highest among three proposals submitted in response to an advertised request by the city. City officials described the ambitious plan as potentially “transformational’’ for the impoverished, mostly black Overtown district, where numerous redevelopment efforts in the past have run aground or failed to deliver on promises of revitalization [img] Peebles’ proposal calls for two towers, of 34 and 37 stories, to be built over a multi-story base and garage. The complex would include a 150-room extended-stay hotel and 670 rental apartments — 60 of them at rates meeting the federal definition for affordable housing, and the rest pitched as “workforce’’ housing for middle-income families. It would also have 160,000 square feet of office and retail space and retain the existing “Sawyer’s Walk’’ as an open pedestrian plaza lined with shops, in similar fashion to Lincoln Road Mall, Channer said. Read more here: http://www.miamiherald.com/2013/09/1...#storylink=cpy |
http://exmiami.org/index.php/peebles...l-residential/