A planned 5-level parking garage is proposed to be at Knox Road and Yale Avenue (across the street from City Hall, behind Cornerstone) where there is currently a regular city parking lot. Two houses adjacent to the site were recently acquired at high cost by the city to be part of the garage site . The structure would hold 300 parking spaces and 6,000 square feet of ground-level retail space on Knox Road frontage. Upon completion, city parking capacity would increase by 43%. Barring delays, the garage could be operational by 2010.
Knox Rd and Yale Ave elevations will be primarily brick. South and west elevations would be concrete that is tinted to match the color of the brick. Adding brick to the south and west elevations would increase the project cost. The estimate for the south side alone is an additional $200,000.
The current development budget is $8.08 million to be financed through municipal bonds. Parking meter revenues from the garage alone will not be sufficient to support construction cost. That is typical of similar garage projects. System-wide parking revenues will ultimately support the project cost. This includes an increase in city parking meter rates.
The garage is intended to support current downtown businesses, and to help attract new (hopefully more diverse) businesses. The Downtown College Park Merchants Association is strongly in support of the garage. Some current businesses have already been contributing to a parking district fund for years. Councilwoman Stephanie Stullich encourages citizen attendance at the meeting. She says public input will guide final city council decisions on whether to go forward with the project, as well as decisions on specific features of the proposal.
See the College Park city site for specifics on the proposal including feasibility reports.