Hopeful of gaining market share in some of the faster-growing neighborhoods of South Florida, Wachovia Corp. on Tuesday announced plans to open nine branches and renovate 31 existing ones in the Miami area.

The Winston-Salem, N.C., banking company said it hopes to open six to eight of the new offices and complete all the renovations during 2000. The price of the project has not been determined, but it typically costs Wachovia about $1 million to build a branch and $250,000 to $500,000 to renovate an office.

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