Preliminary design work costing $40,000 for a new elevator and stair tower on the southwest corner of the Fourth & William parking structure has been authorized by the Ann Arbor Downtown Development Authority board.
The board’s action to task Carl Walker Inc. to develop architectural renderings for the work at the Fourth & William parking structure came at the board’s Jan. 8, 2014 meeting. The funds for the design work would be drawn from the parking fund, not the DDA’s tax increment finance (TIF) revenue.
The Fourth & William parking structure is described in the board’s resolution as the largest one in Ann Arbor’s parking system with elevators that are more than 30 years old and inadequate to meet customer demand. [A recent trip from the ground floor to floor 7 was timed by The Chronicle at 45 seconds. The comparable trip at the newer Washington & Fourth parking structure took about 17 seconds.]
The Fourth & William structure has 994 spaces. Since 2011, the structure has generated a rough average of $210,000 in gross revenue per month. According to DDA financial records, after expenses and debt service on bonds associated with the structure, the Fourth & William structure generated $293,929 in income for FY 2013.
The board’s Jan. 8 resolution indicates that to keep the facility open during the elevator tower renovation, a phased construction plan would be used. Construction would not be expected to begin until next winter.
This brief was filed from the DDA offices at 150 S. Fifth Ave., Suite 301, where the board holds its meetings. A more detailed report of the meeting will follow: [link]