The Flagler Street area of Downtown Miami’s Central Business District is likely to see over 30 million square feet in new development, a new study says.
Gridics analyzed development potential in the Downtown Historic Area based on Miami 21 zoning regulations and allowances, in a study prepared for the city to help plan for future infrastructure needs.
Over 26 million square feet in new development is likely along Flagler Street and to the areas north and south, based on zoning regulations and allowances.
Another 17 historic sites could see 8 million square feet in additional development.
Gridics says the study will help save the city and utilities companies millions, by helping plan infrastructure needs. Road improvement projects are already underway that could need to be torn up in the future to meet demand for new utilities without proper planning, the company said.