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Wynwood Seeks New Life For Its Economic Growth Engine

The Wynwood Business Improvement District (BID) is on the road to a 10-year renewal to continue building upon the neighborhood’s economic success as a globally recognized center for arts, innovation and culture.

On June 8, the Miami City Commission unanimously approved renewal of the BID’s special assessment district. As part of the resolution, the city allocated $1.7 million for the BID’s 2023-2024 budget to fuel projects like streetscape beautification, clean team initiatives, transportation and improved signage.

After receiving the commission’s authorization last week, the BID now will start to collect affidavits of support from business property owners to be included within the boundaries. Approval from more than 50% of affected property owners is needed to re-establish the BID.

The deadline to collect and file affidavits is Aug. 18. The commission is to meet Sept. 14 to accept results of the affidavit process, upon which 30 days’ notice will be issued for people to testify Oct. 26.

Pending approval by a majority of business owners within the area, the BID is set to officially be renewed for another 10 years on Nov. 6.

The Wynwood BID was established in 2013 to strengthen the neighborhood and solidify it as an international hub for creativity and culture with clean and safe streets. The BID now represents more than 400 property owners over 50 city blocks within the Wynwood Arts District. It works to enhance security and sanitation services, encourage artistic programming and advocate for the area’s betterment and future success.

“We have managed to converge art, fashion and technology to create a neighborhood that has enabled locals, owners, artists and community members to work together to reinvigorate the district from its former manufacturing decline,” said Manny Gonzalez, executive director of the BID, in a May 24 letter to stakeholders asking for their support.

The Wynwood BID has enabled the neighborhood to become one of the most successful and self-sufficient in Miami. Property owners and businesses have transformed Wynwood into a viable pedestrian-friendly café and art district, boosting the local economy.

Property values have increased exponentially as well as tourism, skyrocketing 2400% from only 600,000 annual visitors in 2013 to over 15 million in 2023.

As a result, Wynwood has become a top contributor of taxes to the city, county and school boards. In 2022, the area grossed $21,663,756 in total annual assessments compared to only $741,606 in 2013 before the BID was formed.

Some of the organization’s most notable accomplishments in its first decade include over 400 new businesses opened in the district, $3.5 million donated towards affordable housing totaling 120 units, more than 5,000 micro units built to assist with the youth and young adult housing crisis, the donation and installation of one-fifth of all of the City of Miami’s security cameras since 2018 and a clean team that operates 365 days a year to keep streets debris-free.

The district has also been at the forefront of working with city officials to incubate ideas into action. Such initiatives include the creation of the city’s first neighborhood revitalization district, co-living legislation and the Wynwood Streetscape Master Plan.

Looking forward 10 years, the district’s priorities include installation of a Wynwood/Mid Town commuter rail station, neighborhood and highway wayfinding signage, streamlining connectivity by re-opening local Overtown/Wynwood I-95 exits, streetscape master plan improvements and upgrades to Roberto Clemente Park.

The resolution approved June 8 also allocated $1,705,752 for the BID’s 2023-2024 operational budget. The monies will fund administrative staffing, which the BID wishes to increase to four office workers and one more clean team member. The clean team now has seven members, working about 200 hours a week across the district’s 47 blocks.

Expenditures also include office rent, supplies and utilities, security cameras, marketing and advertisement and streetscape enhancements.


Source:  Miami Today

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