City Votes to Put City-Owned Property Up For Sale, Seeking $8 Million

City Votes to Put City-Owned Property Up For Sale, Seeking $8 Million

At the most recent city commission meeting, the Tallahassee City Commission voted to approve the release of an RFP for the sale and redevelopment of two City-owned properties located downtown.

The vote was 4-1. Commissioner Matlow voted against the recommendation.

The two properties are designated as the Chevron Block (2.4 acres) and Johns Block (2.7 acres). The properties are bounded by W. Gaines Street, S. Martin Luther King, Jr. Boulevard, W. Madison Street and S. Duval Street.  The blocks are bisected by S. Bronough Street.

The City staff estimates a minimum of $8,000,000 from the sale of property. The parcels were purchased from the Board of Trustees of the Internal Improvement Trust Fund of the State of Florida in 2005 for $5,850,000.

City policy directs one-time land sale proceeds support the deficiencies fund or non-recurring capital projects.

Currently, the properties are primarily used for surface parking.  The Johns Block on S. Duval Street is improved with 132 paved parking spaces (19 are metered), two sand volleyball courts and a food truck court.  The Chevron Block, on S. Bronough Street has 165 parking spaces; approximately 10 of these spaces are paved, and the remaining spaces are gravel.  For FY2017 and FY2018, these surface parking lots produced a net income of $24,795.02 and $20,282.61, respectively.

Staff reported that the City has received numerous calls from parties interested in purchasing these parcels.  Most recently, an agent for a national hotel chain contacted Real Estate Management in August of 2019 to inquire about the properties for a hotel development.  

In addition, a local real estate broker contacted Real Estate Management in March of 2019 to inquire about a purchase of both parcels for a client’s hotel development.  Real Estate Management was also contacted in July of 2019 with non-specific inquiries about large City-owned parcels and parking garages located in Tallahassee’s urban core.

Any proposed sale, which may result from this solicitation, is subject to final approval by the City Commission.

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7 Responses to "City Votes to Put City-Owned Property Up For Sale, Seeking $8 Million"

  1. Avatar
    Sarah   September 25, 2019 at 9:48 pm

    Maybe I’m wrong, but I thought I had already seen a redevelopment sign on one of these properties a couple of weeks ago.

    Reply
  2. Avatar
    gordonquixote   September 25, 2019 at 9:49 pm

    Hopefully a hotel on one and more student apartments on the other after all of the trees are cut down?

    Reply
  3. Avatar
    News Maven   September 25, 2019 at 11:52 pm

    Someone should get a comment from the Occupy Tallahassee (aka The Flea Parrty) rabble how they feel about living on a $4M piece of land (Johns Block), since they were against “The Man”:
    http://blogs.tallahassee.com/occupy-tallahassee-getting-comfy-downtown/

    Reply
  4. Avatar
    Snidely Whiplash   September 26, 2019 at 9:11 am

    Thank God us long suffering taxpayers can really use the $8,000,000,000.00 cut in our taxes!!!!
    Thank you Boss Hog and The Usual Suspects!!!!
    Wait what do you mean not one red cent in tax reduction?
    Wow that sounds like you guys are not working for the people at all.

    Reply
    • Avatar
      News Maven   September 26, 2019 at 9:54 pm

      Snidester:
      Like Bernie, you’re confusing your billionaires and millionaires.
      Boss Hogg?
      You mean Fred Flintstone?
      “Yabba
      Dabba
      Do as we say!”

      Reply
  5. Avatar
    Hope   September 27, 2019 at 6:29 am

    What’s up with the mayor and his public temper tantrum regarding the ethics board?

    Making car commercials and misusing his position as mayor, ignoring the crime problem, etc… it just keeps getting worse.

    Reply
  6. Avatar
    Dave   September 30, 2019 at 12:09 pm

    This is the first piece of Property that they are actually asking a decent price, I think it is worth a little more but it’s a start. Just PLEASE, sell it out right and do NOT give any Money to ANY Company wanting to build something there. If they can afford to buy it, they can afford to Build on it.

    Reply

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