Commission approves PUD to convert 24 Cathedral Place into 120‑room hotel with wrapped parking and streetscape commitments

The St. Augustine City Commission voted unanimously on April 13 to approve a Planned Unit Development (PUD) amendment allowing the adaptive reuse of the historic Exchange Bank building at 24 Cathedral Place into a 120‑room, five‑star hotel with an internal, wrapped parking garage and associated public‑benefit commitments.

Under the approved PUD, the developer agreed to provide a minimum of 155 parking spaces (up to 175), an embedded valet‑operated garage, a regional trash compactor, and to contribute $464,640 to city streetscape improvements (to be paid within 90 days of approval). City staff estimated a mobility fee payment of about $350,000 would also be due to the city. The applicant cited historic rehabilitation, private investment in public infrastructure and recurring tax revenue as central public benefits.

John Regan, the applicant’s project representative, summarized the financial commitments to the commission and city staff, saying the Patel family “will make that payment, within 90 days” to support building out Charlotte Street’s streetscape. Regan also presented traffic and economic analyses the team…