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1 RiversideCA.gov
PURCHASE, SALE, AND DEVELOPMENT AGREEMENT WITH
PELICAN COMMUNITIES, LLC FOR THE SALE OF PUBLIC
PARKING GARAGES 1 AND 2 LOCATED ON ORANGE
STREET, FOR THE DEVELOPMENT OF A MIXED-USE HOUSING
PROJECT, TOTAL SALES PRICE OF $920,000
City Council
March 19, 2023
Community & Economic Development
Department
RiversideCA.gov
2 • February 12, 2021: Financial Performance
& Budget Committee direction received
• May 25, 2021: City Council declared
Garages 1 and 2 surplus
• June 1, 2021: Notice of Availability
(NOA) issued
BACKGROUND
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3 BACKGROUND
• July 31, 2021: One joint proposal received from
Pelican Communities and Greens Development
• August 2021 to December 2021: refined to address
AB 1486
• February 15, 2022 : Economic Development,
Placemaking Branding/Marketing Committee
approval to proceed with Agreement
RiversideCA.gov
4 PARKING GARAGE 1 PROPERTY
Public Parking Garage 1
213-271-012
Zoning: Raincross District
General Plan: Downtown Specific Plan
(DSP)
Lot Size: 0.46 acres
Parking Stalls: 170 public parking
Year Constructed: 1962
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5 PARKING GARAGE 2 PROPERTY
Public Parking Garage 2
213-301-006 & 213-301-015
Zoning: Raincross District
General Plan: Downtown Specific Plan (DSP)
Lot Size: 0.42 acres
Parking Stalls: 155 public parking
Year Constructed: 1962
RiversideCA.gov
6 DEVELOPMENT PROPOSAL
59 total (Garage 2 Site - 25% affordable = 15 units)Residential Units:
Studios: 23 Units
1 Bedroom: 24 Units
2 Bedroom: 12 Units
Bedrooms:
170 stalls (Garage 1 – to be fully renovated)Parking:
3,900 – 9,000 sq. ft. (Garage 2 Site)Retail:
$20 millionEstimated Cost:
100Estimated Construction
Jobs Created:
$200,000Estimated Property Tax
Generated:
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7 PRELIMINARY SITE PLAN
Public Parking Garage 2 Conversion
Ground Floor Floors 2 thru 5
RiversideCA.gov
8 GARAGE 2 SITE - HOUSING/RETAIL
Parking Provided in Garage 1
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9 PARKING IMPACTS
Parking Provided in Garage 1
• Required parking TBD during entitlements
• Staff estimates 100 +/- public parking stalls will
remain available in Garage 1
• Public parking rates to align with City rates or
higher
• City maintains control until building permit
issuance
RiversideCA.gov
10 PARKING IMPACTS
• Garages 1 and 2 provide a combined 325 parking
spaces
• 77 spaces are reserved for permit holders, 8 spaces
are unavailable pending structural repairs
• 240 spaces are available to the general-public/
visitors
• Lot 52 (recently constructed) provides 144 parking
spaces
• Combined with 100 retained stalls (for a total of 244 stalls), parking availability for the general-public
remains static
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11 PARKING GARAGE ACTION PLAN
• Installation of new Parking Access and Revenue
Control System -approved by Council, scheduled for
March 2024, removed upon transfer
• Engineering Firm retained to assess repairs
• Safety and efficiency will remain a priority
• Staff advancing "Garage 8" at new Parking Lot 52
location (Orange & 5th)
RiversideCA.gov
12 Strategic Priority 2, Community Well-Being Goal 2.1: facilitate the development of a quality and diverse housing supply that is available and affordable to a wide range of income levels
Strategic Priority 3, Economic Opportunity Goal 3.3: Cultivate a business climate that welcomes innovation, entrepreneurship, and investment Cross-Cutting Threads
STRATEGIC PLAN ALIGNMENT
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13 That the City Council:
1. Approve the Purchase, Sale, and Development Agreement with Pelican Communities, LLC for the sale of Parking
Garages 1 and 2 located on Orange Street between
Mission Inn Avenue and Ninth Street, bearing Assessor’s Parcel Numbers 213-271-012, 213-301-006 and 213-301-015, total sales price of $920,000; and
2. Authorize the City Manager, or his designee, to execute the Agreement with Pelican Communities, LLC, including
making minor and non-substantive changes and to sign all documents necessary to complete the transaction.
RECOMMENDATIONS
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