Downtown Economic Development Initiative
Town Council-Adopted Master Plan Concepts
6/14/04 — Stainback Public-Private Real Estate will conduct a financial feasibility/cost estimation analysis on the following concepts.
Option “A”
- Parking Lot #5: Large outdoor public space, with retail and housing and an underground parking facility.
- Parking Lot #2: Under-grade transit transfer center, outdoor public space, retail and housing above. Parking would be provided at the RBC-Centura Bank Site in a six-level parking garage with approximately 60 spaces per level.
- Wallace Parking Garage and Adjacent Town-Owned Site: Housing above the Wallace parking deck, housing and retail at Henderson Street, possible extension of parking garage.
In addition, the Council adopted two alternative options for consideration, in order of preference:
Option “B”
- Removal of the RBC parking deck
- Reduction in the amount of housing on Lot #2
- Increase in the amount of housing and parking at Lot #5 and the Wallace Parking Deck property
Option “C”
- Removal of the RBC parking deck
- Removal of the underground transfer station and replacement with an on-street transfer station
- Construction of underground parking on Lot #2 as needed
