C4C-Ref- FCWPC - Construction Of Parking Garage At 27th Street And Collins AveMIAM! BEACH
City of Miomi Beoch, .l700 Convention Center Drive, Miomi Beoch, Florido 33.l39, www.miomibeochfl.gov
COMM!SS MEMORANDUM
Mayor Philip Levine and Members the City
Jimmy L. Morales, City Manager
February 11,2015
REFERRAL TO THE FINANCE
DISCUSSION REGARDING THE CONSTRUCTION OF A PARKING GARAGE
AT THE 27TH STREET AND COLLINS AVENUE PARKING LOT
BACKGROUND
Walker Parking Consultants, lnc. is in the process of conducting a parking study for Middle
Beach. The Collins Avenue corridor between 23'd & 41st street is an area that is undergoing
significant redevelopment. Preliminary results showthat parking occupancy atthe 27th Street
and Collins Avenue Municipal Lot P55 was at 94o/o and higher, with some exceptions during
a weekday noon count and a Saturday count at 10:00 AM, showing occupancy at 90% and
87% respectively. On-street parking in the area was even higher, with evening counts
ranging between 94o/o and 111o/o occupancy, due to vehicles parked in non-metered spaces
and vehicles waiting for parking.
ANALYSIS
Municipal Parking Lot P55 has 120 parking spaces. Given the high parking demand in the
area, this lot would be a great location for construction of a multi-story parking garage with
ground floor retail space. lnterest has been expressed by more than one entity, including a
national pharmaceutical company, to lease such space. lt is recommended that this garage
be built and owned by the City, which will produce revenue from leased retail space and
parking fees. Being a City owned property;joint venture partners are neither necessary nor
recommended.
CONCLUSION
The Administration is requesting referral to the Finance and Citywide Projects Committee for
further/irection on this item.
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