Thursday, May 03, 2001
Land for garage to cost $2M
Council approval is next step
By Ken Alltucker
The Cincinnati Enquirer
Construction of a $12 million parking garage at Seventh Street and Broadway could start this month if Cincinnati City Council approves a contract next week to buy land from a private developer.
Downtown housing advocates consider the 400-space garage and two other city-funded garages on the drawing board critical for hundreds of housing units planned downtown.
If council approves, the city will pay a private developer $2 million for the lot at the southwest corner of Seventh and Broadway and start construction soon thereafter.
The asphalt lot is owned by Broadway Development a joint venture of North American Properties and Al Neyer Inc. The city will develop the garage with special reinforcements to allow North American to build 100 housing units above it.
The city's maximum cost of $12 million will largely be paid by the city's parking fund, from fees collected from meters and city-owned garages. The garages will require a 5 percent fee increase at all city-owned garages every three years.
City officials originally touted the Broadway garage as unique because of a planned automated lift to park and retrieve cars. Now, Deputy City Manager Richard Mendes said the city must complete a feasibility study before building such a garage.
Al Neyer Inc.'s Rick Kimbler said his firm has proposed designs for the garage and expects to build it.
More parking is needed to support the city's goal of 4,000 new housing units downtown, Mr. Mendes said.
Among the new developments: North American Properties' rehab of the adjacent Krippendorf building into 105 apartments. Another developer is converting the nearby Power Building into housing units.
The city also plans garages at the northeast corner of Seventh and Vine streets and on Elm Street between Sixth and Seventh streets.
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