A portion of Lincoln Lane in Miami Beach
The long-discussed Lincoln Lane redevelopment in Miami Beach is off.
City Manager Jimmy Morales recently sent a memo to Miami Beach commissioners that recommended scrapping the mixed-use project, the Miami Herald reported. Morales cited the city’s new administration, the real estate market’s shift since project bidding began several years ago and an upcoming master plan for Lincoln Road. He noted city-owned land along Lincoln Lane could also be the site of a hotel for the Miami Beach Convention Center.
The city had received bids for projects costing as much as $59 million. It had requested proposals with the vision of transforming Lincoln Lane from an alley off Lincoln Road to a public promenade with residential, retail and office space.
“The proposals have frankly gotten stale,” Morales told the Herald. [Miami Herald] — Eric Kalis
via The Real Deal Miami http://ift.tt/1ggNIfa
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