Ft Lauderdale. FL Economic Development - Part 2

Highways are expensive to build and maintain.

Metro Planning Organization is necessary to address the highway system that is already built out.  

Moving people without automobiles is challenging at best.  To keep the business community moving premium transit studies were completed with amazing results.  HOV lanes for rapidly moving vehicles are certain times of day were established.

Express buses pick up people at central location in Broward County (metro Ft Lauderdale) and transport them to downtown Miami.  What the report showed was the parking lot was filled with luxury automobiles and the folks utilizing this method of transportation are middle aged, black women making $60,000 a year.  It works.  This method frees up approximately $1,000 a month in overhead that can be allocated to purchasing a home versus renting in the western city locations.

For the future, lets take a peek at Electric street cars.

“The Wave” is a planned 2.7 mile streetcar system designed to move people in and around downtown and serve as a circular system with connections to regional bus and rail systems.   

The first phase of the Central Broward County, metro Ft Lauderdale, East/West Transit system is part of a planned county wide network.  

This will attract new residential development slated for midrise in Flagler Village, north of Broward Boulevard, west of U.S. 1 and east of Andrews Avenue.  

Additionally this plan will attract new restaurants, shops and educational facilities so real estate brokers and agents should gear up for the future.

This project encourages significant private investment estimated at approximately 4 billion of new development by 2030 with an estimated $70-80MM in new tax revenues.

The slated project will create over 2,000 engineering and construction jobs.

Close proximity to airport, port/cruise terminal and Tri-Rail expansion of the streetcar network for new hubs into the future.