Mexico City - Mexico City's government plans to build an elevated cultural corridor over the centrally located Chapultepec avenue with about 1 billion pesos ($60.5 million) in private investment, officials said.

The project, which will break ground in September and be completed in 18 months, will cover 61,297 sq. meters (658,930 sq.ft), of which 23,300 sq. meters (250,470 sq.ft) will be dedicated to green space and cultural offerings, with the rest consisting of walkways.

The Chapultepec Cultural Center "will include an elevated linear park with visual and pedestrian continuity," the Federal District's government said. The cost of the project is being underwritten by private investors, "so it will not be necessary to use public resources or take on any kind of debt," the capital's government said.

The project is expected to create 3,500 direct and indirect jobs, as well as 2,000 permanent jobs, once the corridor, which will link the existing Chapultepec transportation center with a Metro station in the Zona Rosa, one of the most popular tourist zones in Mexico City, is completed, officials said.

The goal is to create the infrastructure on Chapultepec avenue needed to turn the area into a destination offering quality public spaces and the services people want.

The elevated corridor will have movie theaters, art galleries, spaces for artists, music and literary training centers, and cultural workshops, officials said.

The corridor will have a system for capturing rainwater and environmentally friendly products, such as recycled materials, will be used in the construction of the facility.

The green areas will have gardens and officials plan a conservation program for the 269 trees already in the area.