HomeMy WebLinkAbout19th and Parks Avenue UpdateRFP For Public Structured Parking
at 19th Street & Parks Avenue
Emily Archer, Economic Development Acting Director
May 19, 2026
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Purpose
•Review the 19th and Parks
Public Parking Garage RFP
process
•Provide an overview of the
proposed concept and
development terms
•Seek City Council direction on
next steps
1.73 Acre City-owned 109-space surface parking lot
CENTRAL BEACH
SMALL AREA PLAN
FUTURE VISION
CONVENTION
CENTER
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Convention and Sports Center Parking Challenges
Convention and Sports Center Parking Challenges
•During concurrent events,
parking is routinely limited
•Shuttles and overflow lots are
employed at added costs
•Unfavorable impressions
remain with visitors
19th & Parks Public Parking Garage RFP
•7/20/25 - Advertised for 90 days
for public structured parking and
other complementary uses
•10/20/25 - Six (6) submissions
received
•11/25/25 – (3) respondents were
shortlisted after the evaluation
committee and Council review
•12/16/25 - Interviews were held
•2/3/26 – Negotiations began with
the top respondent after the
evaluation committee and Council
review
Existing Site Conditions
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Disclosures
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•Developer – Runnymede
Corporation
•Architect – Hanbury
•Engineer – Kimley Horn
•Contractor – WM Jordan
•Legal – Kaufman & Canoles
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•1,048-space garage
•+/- 80 retail spaces
•968 Public Parking Spaces
(859 net new)
•18,000 SF of two-story retail
with sports bar, restaurant,
and coffee shop envisioned
•Parks Avenue extension to
18th Street
•Underground stormwater
management facility
Runnymede Proposal
Concept Plan Parks Ave19th Street
RESTAURANT RETAIL
RAINY DAY OLD
BEACH FARMER’S
MARKET
EXISTING BMP
TO REMAIN
MOVIE NIGHT
@ ViBE PARK15K CF UNDERGROUND
STORMWATER STORAGE 18th Street 7
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Garage Diagram
View From 19th Street
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Development Agreement Terms
•City/VBDA’s share of project costs is not
estimated to exceed $37,715,424
($35,988/space) at this time
•Pre-Development Phase requested to
deliver 35% design development
documents, a Guaranteed Maximum
Price (GMP), schedule, and leasing
strategy for the retail
•City/VBDA pre-development
contribution capped at $1.9 Mil and
developer contribution capped at $308k
•Funding is available in CIP 100059, Resort
Parking District
•The retail portion will be a
private condo unit leased at
$1/yr for 42 yrs, renewable for
up to three, 20-yr terms. They
will have the right to lease
sufficient spaces for retail
patrons in the garage
•Additional $7-$8 Mil private
developer investment
anticipated in the retail space
•Mid-2028 parking garage
delivery
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For Consideration
Authorize a pre-development
agreement and City’s $1.9 Mil pre-
development contribution.
Potential next steps:
•Public hearing: 6/2
•VBDA Vote: 6/9
•City Council Vote: 6/16
•Future vote on GMP, development
agreement, and land transfer to VBDA
Discussion
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