Following the successful lead of other small and large cities across the country, Pensacola has identified the Palafox Pier as a downtown destination magnet. This $12 million mixed use development at the southern end of Palafox Street on the Palafox Pier includes a 92-slip marina, and two upland buildings: the 7,200 square feet Harbormaster Building that is completely leased and the Icehouse Building with 21,000 square feet that is complete and occupied by Network Telephone and Merrill Lynch. The second phase of development proposed on the pier site, 72,000 sq. ft. of mixed-use space, is under construction. As part of this public/private partnership, the City is investing $1.2 million in public infrastructure improvements such as sidewalks, pedestrian plazas, new pier railings, and historic lighting.