Press release issued by the City of Tallahassee
At today’s City of Tallahassee Community Redevelopment Agency (CRA) meeting, the joint board, comprised of City and Leon County Commissioners, continued discussion and momentum to revitalize areas of our community.
The CRA board received an update from North American Properties (NAP) about the proposed mixed-use development at Cascades Park. During the update, NAP reiterated its commitment to addressing the goal of creating an iconic destination in downtown Tallahassee. The planned development could include a hotel, housing, a wellness center, public parking and a large public plaza that includes recreational, cultural and historical elements.
NAP is requesting input from the community on how to honor the history of the site within the public plaza. Citizens can provide suggestions by emailing [email protected] or by attending a community listening session on June 15 at 6 p.m. at the Meridian Point Building near Cascades Park, located at the corner of E. Bloxham and S. Gadsden streets.
As part of the project update, the Office of Economic Vitality shared the following preliminary numbers from an economic impact analysis of the proposed NAP development at Cascades Park. The analysis, performed by The Center for Economic Forecasting & Analysis (CEFA) at Florida State University, shows the project could have a significant, beneficial impact on the Tallahassee / Leon County area.
Estimated Project Cost – $132 million*
*Represents the investment made up front by private developer North American Properties
- Construction Impact
- 916 direct jobs with $38.8 million in wages
- 1,293 indirect jobs with $55.9 million in income
- $289.1 million total direct/indirect economic impact
- Operational Impact
- 384 permanent jobs with $9.5 million in annual income
- 310 indirect jobs with $13.6 million in annual income
- $64.5 million total direct/indirect annual economic impact
Final plans are anticipated to be presented to the CRA board this fall. More information about the NAP redevelopment project is available at CascadesProject.com.