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Cashflow In Miami
December 4, 2021

Is Las Olas Loop Coming?

Tunnell from Las Olas to Fort Lauderdale Beach might be more than just talk now!!

The favorable vote allows The Boring Company (TBC) to start more detailed negotiations with Fort Lauderdale about the Las Olas Loop.

According to Lagerbloom, the recent vote states that Fort Lauderdale was still interested in pursuing The Boring Company’s proposal for a Las Olas Loop, and the tunneling company has met all procedural requirements. The city could discuss a potential interim agreement or comprehensive agreement with The Boring Company now that the resolution has passed. The city and TBC may also discuss regulatory requirements from the federal government, state, and county.

“The next step is to accept the proposal, and to now negotiate an agreement which we can now move forward to talk about the terms, the conditions, financing, and the technological aspects moving forward as they continue to examine the underground infrastructure and how they’re best going to be able to proceed with the project,” .

From Lagerbloom’s perspective, the tunneling startup seems excited about Fort Lauderdale’s Las Olas Loop.

In July, Fort Lauderdale Mayor Dean J. Trantalis announced that the city formally accepted The Boring Company’s proposal for the Las Olas Loop. Initially, TBC talked to Fort Lauderdale officials about a small-scale project in New River. But the tunneling company pitched a bigger tunnel after continued conversations with city officials.

Elon Musk was among the contenders for the developement  as well.

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