Naples CRA approves three-story parking garage near Gulfshore Playhouse future site

Naples CRA approves three-story parking garage near Gulfshore Playhouse future site

The city of Naples will build a three-story, four-level garage with 360 parking spaces near a future Gulfshore Playhouse theater and education center as part of an agreement approved Thursday.

Naples City Council, acting as the Community Redevelopment Agency, voted6-1 to recommend a partnership agreement with Gulfshore Playhouse Inc. and the Wynn family acting as Downtown Naples LLC to build the garage at First Avenue South and 12th Street South.

Gulfshore Playhouse and Downtown Naples would transfer to the city more than 1 acre with a value of approximately $4.72 million to build the garage in exchange for a share of its parking space valued at $4.7 million to support their individual development projects, according to a CRA memorandum.