Update: Beaufort close to buying downtown parking lot, office space
Street view: 500 Carteret St., Beaufort: Click or tap image and drag to explore this area.
Beaufort is poised to buy a downtown lot and office building, a purchase city staff says will fulfill a panel's recommendations for more parking downtown.
The property at 500 Carteret St. would add as many as 90 new parking spaces, city manager Bill Prokop said. The 16,000-square-foot former Bank of America building on the site could be used to attract new businesses, he said.
Of that space, 6,000 square feet are currently leased. The city's Redevelopment Commission will work to find tenants for the empty space.
City Council acknowledged concerns about taking property off the tax rolls while money is tight but called the transaction a wise investment in a unanimous first vote approving the purchase Tuesday. A final vote will be taken Dec. 22.
"Philosophically, I am opposed to taking property off the tax rolls," Councilman Phil Cromer said. "This is one of those situations with a compelling interest."
The property, owned by attorney Parker Barnes, has been listed for $1.6 million. The city has the chance to buy it for 24 percent less than an appraised value, though Prokop would not specify the proposed purchase price.
Added parking won't eliminate the need for a long-discussed parking garage, Prokop said. A parking garage is currently being explored and, in several years, the property could be turned back over to private hands, city officials say.
"We have no intent to say we want to be in the real estate business," Prokop said. "We're trying to do this to say this is what the community needs."
In June, a panel recommended that the city provide more parking. Almost 150 spaces have been lost since 1998, panel chairman David Cargile reminded council members on Tuesday.
Money for the purchase likely would come from the city's land fund, parking fund and money from the sale of unneeded property, such as the current contract to sell former the former city hall building to Lowcountry Produce for $725,000.
If all of the city's extra property is sold for its minimum asking price, the proceeds would offset buying the Carteret Street property, Prokop said.
The added parking spaces would give employees of downtown business a place to park instead of clogging prime spots on Bay Street. The nearby Beaufort County Library on Scott Street will also benefit, Mayor Billy Keyserling said.
Members of the parking panel recommended buying the Carteret Street property and reserving half of the spaces for employees. The panel called for the city to eventually add 500 spaces.
Another suggestion is to reconfigure the Beaufort Downtown Marina lot to create more parking space.
Follow reporter Stephen Fastenau at twitter.com/IPBG_Stephen.
Related content:
- Beaufort plans to buy Carteret Street property for additional parking, Dec. 10, 2015
- Beaufort to sell former City Hall building to Lowcountry Produce, Nov. 10, 2015
- More parking space a priority as city of Beaufort addresses parking task force suggestions, June 30, 2015
- Panel: Beaufort should stop offering free parking, June 11, 2015
This story was originally published December 15, 2015 at 11:16 AM with the headline "Update: Beaufort close to buying downtown parking lot, office space."