A plan to lease a garage with a minimum of 650 parking spaces has been put forward near the junction of N. Ponce De Leon Blvd. and W. King St.
ST. AUGUSTINE, Fla. — St. Augustine is moving forward with a new public parking garage proposal, as city officials work out the agreements necessary for its construction and future leasing.
The planned facility aims to add at least 650 parking spots to a major thoroughfare leading into the downtown area, as detailed in an updated Memorandum of Understanding (MOU) set for discussion in Monday’s city commission meeting.
The city has long struggled with parking shortages, especially during major events like holiday celebrations and the Nights of Lights, which attract tourists from across the nation.
The garage will be conceived, constructed, and owned by Barry Broudy and the West Augustine Gateway, LLC, located west of the North Ponce De Leon Boulevard and West King Street crossroads. Once completed, the city will oversee its operations and maintenance.
According to the MOU, the city would commit to a 100-year lease for the property, exempt from property taxes, before eventually purchasing the facilities and land. The agreement includes an option for earlier purchase; after 30 years, the city could acquire the facilities for $1 or the entire project at its “fair market value.”
Construction is not yet a done deal. In the future, the St. Augustine City Commission will make a final decision on whether to follow through on the project. If not, the developer will be eligible for reimbursement for the design effort already made.
