City Of Philadelphia Eyes Sale Of Parking Garage Under Love Park
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By Mike DeNardo
PHILADELPHIA (CBS) — The Nutter administration has taken the first step toward selling the parking garage under JFK Plaza (“Love Park”), a block from City Hall.
The city has put out a “request for proposals” to manage the sale of the city-owned underground garage at 16th and Arch Streets.
“We’ve been looking at some of our major assets, and this one in particular really doesn’t fit onto the core mission of city government,” says the mayor’s spokesman, Mark McDonald.
The 800-space garage makes $1.2 million a year through the Philadelphia Parking Authority. Selling it could bring an estimated $35-40 million.
McDonald says that’s money that could be used for one-time matters such as improving infrastructure or shoring up the city’s underfunded pension system.