Title
Conduct a Public Hearing to Consider/Discuss/Act on Public Parking Throughout McKinney’s Historic Downtown Including the “Nine-Acre” Site Located at the Southwest Corner of Davis Street and McDonald Street (S.H. 5)
Summary
COUNCIL GOAL: Direction for Strategic Growth
MEETING DATE: February 16, 2016
DEPARTMENT: Development Services
CONTACT: Michael Quint, Executive Director of Development Services
RECOMMENDED CITY COUNCIL ACTION:
• Staff recommends that the City Council do the following items:
o Conduct a public hearing to solicit public feedback and input regarding public parking throughout McKinney’s historic downtown;
o Decide whether or not to partner with Columbus Realty Partners, Ltd. for the construction of an additional 100 parking spaces in a structured parking facility to be constructed on the “Nine-Acre” Site; and
o Provide additional direction to Staff regarding public parking throughout McKinney’s historic downtown.
ITEM SUMMARY:
• On January 16, 2016, the City Council approved and ratified a letter of intent outlining a proposed partnership between the City of McKinney and Columbus Realty Partners, Ltd. for the redevelopment of the “Nine-Acre” site located on the southwest corner of Davis Street and McDonald Street (S.H. 5). This letter of intent generally outlines the future construction of the following:
o 329 Class A+ Multi-Family Residential Units
o 20,000 square feet of ground floor non-residential space (retail/restaurant/etc.)
o 45,000 square foot office building with approximately 125 parking spaces (which will be available for public use during nights and weekends)
o 119 on-street public parking spaces
o A parking garage containing parking for the multi-family uses plus 200 non-resident parking spaces of which 100 spaces will be dedicated to and owned by the City of McKinney
• At this meeting, the City Council raised the potential of partnering with Columbus Realty Partners, Ltd. for additional public parking spaces within the proposed structured parking facility.
• At the January 25, 2016 special City Council meeting, Mr. Robert Shaw from Columbus Realty Partners, Ltd., indicated a willingness to construct an additional 100 public parking spaces below grade in a structured parking facility for an additional cost to the City of approximately $20,000 per parking space ($2,000,000 total). At this meeting, the City Council requested that Mr. Shaw re-evaluate the potential costs of the 100 additional below grade public parking spaces and return to the City Council at the second meeting in February with a more firm estimate. Mr. Shaw plans to be present at the February 16, 2016 regular City Council meeting to present his findings.
• Additionally, at the January 25, 2016 special meeting, the City Council also requested that the public be afforded an opportunity to speak about public parking throughout McKinney’s historic downtown including the “Nine-Acre” site.
BACKGROUND INFORMATION:
• Public parking in McKinney’s historic downtown has been discussed for some time. Several parking studies and updates have been conducted over the recent past but the most recent versions of these studies are the 2009 Downtown Parking Study and the 2014 Downtown Parking Study Update, attached hereto. These studies evaluate public parking downtown and make recommendations for the future.
• Additionally, in 2010, the City of McKinney conducted a downtown public parking rate study, attached hereto. This study evaluates what rates could be assessed (in 2010 dollars) if the City of McKinney decided to pursue paid parking downtown and also makes other recommendations for the future.
FINANCIAL SUMMARY:
• N/A
BOARD OR COMMISSION RECOMMENDATION:
• N/A