More Ann Arbor Downtown Parking
The Ann Arbor City Council recently approved the proposed Fifth Avenue Parking structure in a 10-1 vote. The underground structure is part of a plan to replace surface parking on the 300 block of South Fifth Avenue, north of the Ann Arbor District Library. They did approve the plan with one change however, a $6 million reduction in the project which takes the scope from 785 parking spaces down to just over 500. This is founded by eliminating a significant section that was supposed to run under Fifth Avenue.
Ann Arbor Business owners weighed in on Tuesday night – most in support of the project. Since downtown parking is scarce (in fact, one attendee cited the fact that a business of 120 people was moving to Pittsfield Township due to parking woes), most in attendance stressed the importance of increasing the supply. Noted was the pedestrian-friendly nature of the structure and the Downtown Development Authority’s contributions to mass transit efforts such as the commuter bus “GetDowntown” Program.
In the minority were some citizens that argued this project is at odds with Ann Arbor’s other transit efforts. They believe further scrutiny of downtown parking demand is warranted. The new structure will be funded with a $56.4 million financing plan. This includes a 15% down payment and a bond for the remaining $47 million. Bond repayment is based on an Ann Arbor parking revenue stream of about $13 million/year.
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July 22nd, 2009 at 9:30 AM
[...] between 1 and 2.5 bathrooms. Building Association fees include gas, water, sewer, garbage pick up, indoor parking as well as secure storage. The building has been complete for some time and residents have already [...]