The parking structure that has been approved is being built at Fourth and San Fernando Streets, but still the city will need an additional 4,000 to meet Downtown's need.
These figures have caused the SJRA to start designing plans that will provide 4,000 spaces on five different sites for an estimated cost of $157.8 million. The majority of these funds will likely be raised through bonds, as the city only has $14 million in the budget for parking.
The SJRA will vote on the proposed five sites on Nov. 6, and will take immediate action to accommodate the need for 2,000 parking spaces downtown. The remaining spaces will be built for future use.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
