CRA approves Cascades project changes, cost increases
from Tallahassee Democrat
Jeffrey Schweers, Democrat senior writer
An updated design for a proposed residential-restaurant-retail megaplex at Cascades Park will add more parking spaces and give the developer a tax refund for a planned hotel.
The Tallahassee Community Redevelopment Agency voted 4-2 Thursday to accept the design changes made since September — adding $425,000 to the price tag of the public parking garage and giving developers an additional $2 million in tax increment reimbursements.
The changes are just two facets of a public-private partnership to build a $150 million condominium and office complex with restaurants and retail shops, and amenities meant to enhance the adjacent Cascades Park and amphitheater.
It includes $7.1 million in improvements to be split 66-34 between the developers and the CRA.
“Yours is a model for the kind of partnerships we envision for this city,” City Commissioner and CRA member Curtis Richardson said. “This project is going to be a game changer for Tallahassee.”
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