Downtown gains new parking structure
- The current parking lot on 3rd, 4th, E and F is soon to be replaced by a 5 level parking structure increasing the number of parking spaces from 113 to approximately 350.
The city of Davis has entered into an agreement with the Yackzan development group to build a 5 level parking structure on the block bordered by the streets 3rd, 4th, E and F.
The new parking structure is part of the Davis Redevelopment Agency’s 5 year implementation plan for 2008-2013 which identifies the need for more downtown parking.
The current parking lot on the block contains 113 parking spaces. The new structure is planned to have approximately 350 parking spaces with 12,000 square feet of retail space on the ground floor facing both E and F streets.
“I think that the 3rd, 4th, E andF project satisfies the demand for additional parking options in Downtown Davis that customers have been waiting for,” said Downtown Davis Business Association Director Joy Cohan, “The additional retail space provides the possibility of attracting new businesses to complement our existing shopping options.”
The project is estimated to cost around $13 million which is expected to require a large amount of financial assistance from the public.
The Davis City Council expects the structure to bring about profits through a property tax increment to the Davis Redevelopment Agency, sales tax to the City of Davis, and benefits from the added business and employment activity downtown.
