02 Mar CRA BOARD APPROVES DEVELOPMENT FOR OVERTOWN PARCEL BLOCK 55
The proposed development calls for an 860,000 square foot mixed-use development to include leasable retail and entertainment space and at least 115 workforce housing units
On Thursday, March 1, 2018, the Southeast Overtown / Park West Community Redevelopment Agency (“CRA”) Board of Commissioners approved Downtown Retail Associates, LLC as the highest ranked proposer to build a major mixed-use project on Block 55. The CRA owns Block 55, a 3.4 acre vacant lot located at 249 NW 6th Street on the southern boundaries of the CRA and adjacent to Downtown. After an open and competitive bidding process, a selection committee ranked the proposal received from Downtown Retail Associates, LLC as the top proposer. The Board of Commissioners accepted the selection committee’s recommendation and authorized the Executive Director to negotiate a Development Agreement with Downtown Retail Associates, LLC.
The proposal calls for an 860,000-square foot mixed-use project with; 15,000 square feet of ground-level community retail and restaurant space; 50,000 square-feet for entertainment space, 125,000 square feet of large national discount retailers, and a 30,000-square foot fitness center. In addition to this retail component, the project will include115 workforce housing units and over $500,000 improvements to Sawyers Walk, a nearby pedestrian walkway named after an African-American family who once owned the land.
The development is projected to create numerous construction jobs and over 390 permanent jobs for the local community. The proposal also commits $15 million to the CRA. For more information, contact the CRA at (305) 679-6800.