TALLAHASSEE, Fla. (WTXL) - The area around Cascades Park could look very different with plans for residential and retail space getting one step closer to reality.
The board of the Community Redevelopment Agency voted to approve an agreement to sell two properties by the park paving the way for a developer to move forward on the project.
North American Properties is in the process of purchasing the Firestone and Bloxham Annex parcels on North Gaines Street for $4.2 million.
The developer will start inspecting the site and work with the CRA to figure out costs and approval for different portions of the project.
CRA Executive Director Roxanne Manning says the project will considerably boost property value downtown.
"It's going to bring a good mixed-use entertainment and residential venue and put it right next to Cascades Park," said Manning. "We're paying a lot of attention to making sure that it's compatible with the park and it actually supports it."
The project is expected to cost around 158-million dollars. It will include a civil rights memorial, public parking and plans for a street designated for festivals.