As suspected, Highwoods is seeking another extension of their parking contract with the City, which expires on the 22nd. From tomorrow’s Council agenda:
Highwoods has plans to proceed with development of the Office Tower and will be submitting an application to the City for site plan approval for a modified version of the development later this year. Highwoods has notified the City that it will be unable to commence construction prior to June 22, 2019 and has formally requested that the existing parking agreement be amended to adjust the Milestone Dates.
Staff, through negotiation with Highwoods, recommends amending the parking agreement to: (i) extend the Milestone Dates 3 years, (ii) reduce the number of parking spaces allocated to Highwoods in the City’s portion of the Blount Street Parking Deck by 30%, and (iii) insert language that the City will work with Highwoods in good faith to provide the Office Tower with up to 89 additional parking spaces at any one time in either the City’s portion of the Blount Street Parking Deck or another City parking facility within six (6) blocks of the Office Tower (on an unreserved, month-to-month rollover contract basis at market rates) but only if Highwoods, after the Office Tower has received its certificate of occupancy, determines that additional parking is needed for the Office Tower project and subject at all times to availability as determined by the City in its sole discretion. Highwoods is in agreement with this recommendation.
The new requirement asks for construction to begin by 22 June 2022.