While the ribbon-cutting and dedication of the newly reconstructed portions of Park Avenue and First Street remain in the planning stage, the newly completed stretches of West Park Avenue and North First Street are now open to two-way traffic.
The opening comes concurrent with the closure of the eastern portion of Park Avenue, a situation expected to last most of the year as the pavement is removed, utilities are upgraded, and new sidewalks and brick streets are installed.
Shoppers and visitors to Park Avenue businesses are encouraged to use existing parking on Stuart and Orange Avenues, as well as city parking lots accessible from Orange, during the construction phase.
The project is a key part of the Lake Wales Connected plan, a $20 million effort to reinvigorate the commercial heart of the city and make it attractive to private investors. New downtown residential development along with new commercial activity is expected to follow the project.
The project is funded by the Lake Wales Community Redevelopment Agency, which is utilizing tax increments accumulated since the mid-1980s founding of the CRA. The revenue is captured from city and county shares of property taxes without any increase in tax rates.
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