Grace Street Parking Tower
In 2015, the city received an unsolicited bid for the property across the street from the Carpenter Theatre. In December 2016, the city has a plan to sell the property for $3,950,000 with an attached requirement for 800 parking spaces. There are no requirements for affordable housing.
Recommendations from the Pulse Corridor Plan
- CW.22 Encourage affordable housing along the Corridor. Explore affordable housing as an element of any redevelopment of City- owned land along the Corridor and direct investments of the City Affordable Housing Trust Fund to the area. Foster a stronger relationship with the State Affordable Housing Trust Fund.
- CW.25 Support new dense, vibrant developments in order to preserve existing historic buildings while increasing vitality at the street and neighborhood level.
- CW.4 Encourage underground and wrapped parking decks. Incentivize underground parking, require wrapping of structured parking, discourage the development of new surface parking lots along the Corridor, and encourage redevelopment of existing surface lots as new infill sites. Surface parking is a waste of valuable land for vehicle storage that often is empty throughout the week and seldom used at capacity (please see the Appendix for surface parking analysis).
- SA.44 Using City-owned lots, especially in the opportunity area around the Coliseum and the lot across from the Convention Center, develop affordable housing with a mix of uses.
On December 5th, Planning Commission approved the plan to sell 1.6 acres of city-owned land adjacent to the Carpenter Theatre for $3.95 million. That plan included a requirement to provide at least 800 parking spaces with 600 of those available to the public. The thing that's absolutely flummoxing about this deal is that in the exact same meeting, the Planning Commission also approved a resolution of intent to change the B–4 zone (which this property is zoned as) to not require any parking at all for mixed-use development!
At the subsequent City Council meeting on December 12th, Council voted to continue ORD. 2016-270 until the January 9th meeting.
To declare surplus and to direct the sale of City-owned real estate located at 101 North 6th Street, 603, 609, 611, 615 and 619 East Grace Street, 612 East Franklin Street, and 112, 114 and 116 North 7th Street, for $3,950,000 to City Center Development, LLC, for the purpose of the construction of a mixed-use development including commercial and residential space.