Title
Discuss Downtown 9-acre Site Parking
Summary
COUNCIL GOAL: Enhance the Quality of Life in Downtown McKinney
Direction for Strategic Growth
MEETING DATE: January 25, 2015
DEPARTMENT: Development Services / Planning
CONTACT: Matt Robinson, AICP, Planning Manager
Brian Lockley, AICP, Director of Planning
Michael Quint, Executive Director of Development Services
RECOMMENDED CITY COUNCIL ACTION:
• Consider and discuss whether or not additional parking spaces should be added to a proposed parking structure on the 9-acre site as part of Columbus Realty Partners, Ltd.’s forthcoming development.
ITEM SUMMARY:
• At the January 4, 2016 City Council Work Session, the Council requested to receive feedback from Columbus Realty Partners, Ltd., the developer of the proposed Downtown 9-acre redevelopment site, regarding the potential for additional parking on the site. Specifically, the Council was requesting feedback on three items:
o Can additional public spaces be added to the site?
o How would the spaces be accommodated? and
o What would be the costs associated for adding additional parking?
• Columbus Realty Partners, Ltd. has preliminarily indicated that an additional 100 below grade parking spaces could be added to the parking structure that they anticipate building at a cost of $20,000 per parking space.
• Columbus Realty Partners, Ltd. has worked with staff to develop a land plan for the redevelopment of the approximately 9 acres of land, that would include new residential, commercial and office uses in a planned compact and pedestrian-walkable design.
• As part of Columbus Realty Partners, Ltd. land plan, the following elements are proposed to be included within the development:
o 45,000 square feet of Office Uses;
o 20,000 square feet of Retail Uses;
o Approximately 329 Residential Dwelling Units;
o 319 public parking spaces (on-street and in structured parking), with an additional deed restricted approximate 125 parking spaces available on nights/weekends.
o First phase of the development provides a mixture of retail and residential uses; and
o Includes the construction/extension of two public streets.
BACKGROUND INFORMATION:
• At the January 19, 2016 City Council Regular Meeting, the Council approved a Letter of Intent between the City of McKinney, Texas and Columbus Realty Partners, Ltd. for a Mixed-Use, Economic Development Project on the Downtown 9-acre site.
• Currently, 523 parking spaces exist on the 9-acre property located on the southeast corner of Davis St. and Tennessee Street. The approved letter of intent calls for the removal of all 523 existing parking spaces and the addition of approximately 444 public use parking spaces. Public use includes parking spaces that are dedicated to and owned by the City, spaces that are privately owned but designated as non-resident spaces, on-street parking, and surface parking that is available for public use during nights and weekends. If the City Council chooses to compensate Columbus Realty Partners, Ltd. for the construction of an additional 100 parking spaces then the new total parking space allotment on the 9-acre site will be 544, a net addition of 21 public use parking spaces.
FINANCIAL SUMMARY:
• Columbus Realty Partners, Ltd. has preliminarily indicated that more parking could be added to the site with City’s contribution of an additional $2,000,000 beyond what is outlined in the approved letter of intent.
BOARD OR COMMISSION RECOMMENDATION:
• N/A