Miami has commissioned a study on building new traffic ramps in downtown Miami.
“A traffic study to see if we could do the elevated ramp,” commissioner Joe Carollo said at a July 13 commission meeting.
At the meeting, Carollo asked city officials for a cost update on the study.
A $400,000 fee for the study had been “proffered” by the developer planning the 3-tower Hyatt Regency redevelopment known as Miami Riverbridge, according to Carollo.
The study has already started, and will cost less than the $400,000 given by the developer to the city, an official told commissioners.
The Miami Herald reported that the developer is funding a study on extending the I-95 on/off ramp to Biscayne Boulevard to alleviate traffic in the area.
In addition to the study, developers Hyatt and Gencom have agreed to at least $10 million in other traffic improvements in a new lease deal for the property, including:
The developer also agreed to build 480 feet of upgraded riverwalk and increased open space (over an acre) at an estimated cost of $15,000,000.
Commissioners voted at the meeting to approve the lease deal.