MIAMI BEACH, Fla.,
May 21, 2013 /PRNewswire/ -- In partnership with the City of
Miami Beach, Apartment Investment and Management Company ("Aimco") (NYSE: AIV) today opened a new section of the Baywalk to the public, along the Western waterfront from 5
th Street to Lincoln Road. The ribbon-cutting ceremony in the bayside courtyard of Flamingo South Beach Apartments not only officially expanded the Baywalk to the citizens of
Miami Beach, but also signified a new partnership between Aimco and the City.
"Today we are pleased to open the gate to a significant portion of the Baywalk and to publicly show our support for the City's goal of enabling citizens and visitors to enjoy the beauty of Biscayne Bay along a signature promenade," said Aimco Executive Vice President
. "Our substantial investment in this new section of the Baywalk will enhance the living environment for our Flamingo South Beach residents, and provide them with further access to wonderful nearby amenities. We encourage other bayside property owners to join us in making the City's vision a reality."
"As part of the city's Atlantic Greenway Network, it is the city's vision to have a network of alternative and sustainable modes of transportation that interconnect," said Miami Beach City Manager
Jimmy L. Morales
. "This public Baywalk will not only provide an additional connectivity, but it will also provide spectacular views for the public to experience."
Aimco began planning its Baywalk project in 2009. In addition to building a 1/3 mile public walkway, it includes the construction of a seawall that offers Flamingo South Beach residents magnificent views of the Bay while maintaining privacy and security. The new Baywalk project also provided Aimco the opportunity to expand its outdoor amenities, enhancing two pool areas with larger decks, outdoor kitchens and dining areas.