Miami, FL – June 12, 2018 — On June 19, 2018, Mr. Arthur “Art” Noriega, Chief Executive Officer of the Miami Parking Authority (MPA) will take part on a panel discussion on “How Public-Private Partnerships are Shaping Miami” during the upcoming Invest: Miami 2018 Conference to be held at the Hyatt Regency in downtown Miami.
Parking is a critical piece of the urban transportation infrastructure network, similar to roads, bridges and gas stations. However, urban pressures, such as new and evolving parking technology, shifts in demographics, barriers to mobility, environmental issues, decaying infrastructure and public facilities and insufficient resources, are impacting the wellbeing and resiliency of cities.
These and other factors, are prompting the MPA to visualize a blueprint to repurpose and/or reactivate some underutilized facilities. Temporary uses of partially-underutilized facilities for pop-up retail (food trucks, farmers markets), sporting events and art and cultural shows, when the parking facility is vacant, will serve to generate other sources of revenues, engage the local community, foster economic development and energize the area.
Undoubtedly, funding constraints are always an impediment and neither the public nor the private sector can do this alone. Both have a shared responsibility to leverage partnerships for the mutual benefit of our community. That is where the concept of a well-designed, effective public-private partnership (PPP) program comes into play. Looking into the not-too-distant future, the wellbeing and resilience of our community will rest largely on our ability to craft well-sounded PPPs that monetize public assets for the public benefit.
Collaboration between the public and private sectors is critical to the protection and enhancement of decaying infrastructure and public facilities. Flexibility and trust are the cornerstone of these partnerships and Miami has some examples of successful PPP developments to show for, such as Midtown Miami. Midtown Miami encompassed the redevelopment of an abandoned rail yard into a vibrant mixed-use community. Brickell City Centre, a mixed-use project built by Swire Properties, is part of the ongoing downtown revitalization initiative.
“Public-private partnerships unlock the key to much-needed infill redevelopment projects, aimed at revitalizing decades-old infrastructure and repurposing public facilities to respond to these urban challenges,” said Art Noriega.