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Council approves downtown development agreement and $6.25 million CRA parking contribution
Summary
The City Council approved Resolution 2026-119R to enter a development agreement with Atlantic Housing Partners for a mixed‑use project on 2.83 acres in the downtown CRA, including a parking garage funded in part by a $6,250,000 CRA payment and $460,000 from the city; the developer says it will invest more than $50 million.
The City Council on Aug. 6 adopted Resolution No. 2026‑119R, approving a development agreement with Atlantic Housing Partners LLP to build a mixed‑use project on 2.83 acres of city‑owned land in the downtown CRA district.
Deputy City Manager Scott Davidoff told council that the project, tentatively called City Center at Saint Cloud, would include at least 120 residential units, a minimum 15,000 square feet of commercial space and a dedicated parking garage for public use. Davidoff said the CRA would pay $6,250,000 toward the garage and the city would contribute an additional $460,000 upon project completion; Atlantic Housing will be responsible for permitting and off‑site improvements and is expected to invest in excess of $50,000,000 on the development.
"RFP 2025‑010 was awarded to Atlantic Housing by the CRA following a competitive process," Davidoff said, summarizing staff’s recommendation for approval. Atlantic Housing representative Scott Culp said the company had completed due diligence and incorporated historic‑board feedback into the design and was prepared to proceed to permitting.
Council voted to approve the resolution after a motion and second; the clerk recorded a unanimous 5‑0 vote. The agreement authorizes the mayor to execute the development agreement and contemplates a zero‑dollar ground lease during construction with eventual conveyance to Atlantic Housing after project completion.
The council clarified that the CRA funding is targeted solely to public garage spaces, not to construction of residential units, and discussed details such as the number of parking spaces to be dedicated for downtown use.
What happens next: Atlantic Housing will move forward with permitting and design under the development agreement; the CRA will schedule its disbursement upon completion of the parking garage, and staff will monitor compliance with the terms specified in the agreement.
