A proposal to replace Ithaca’s Dryden Road parking garage would bring an eight-story, 175-room hotel and a larger parking structure to Collegetown while preserving the existing supply of public spaces.
The development team is led by Robertson Development, with Flagler Partners participating and BKV Group designing the project, The Ithaca Voice reported.
The proposal would replace the 215-space garage at 118 Dryden Road with a 301-space structure. At least 215 spaces would remain publicly accessible.
It builds on the concept FingerLakes1 covered Oct. 28, when city officials described a hotel, restaurant and replacement garage intended to shift long-term maintenance responsibilities to a private developer.
The Ithaca Voice reported that Common Council voted 10-1 that evening to advance the property transaction through the Ithaca Urban Renewal Agency.
A final agreement with the developer would return to council for approval.
Working terms described by the outlet include a $1.425 million payment to the city. The developer would take responsibility for demolition, construction and operation of the replacement public parking.
The proposed building also includes approximately 2,500 square feet of retail space. A hotel brand has not been selected.
City officials say the existing garage, which opened in 1986, requires substantial spending for maintenance and repairs.
In its project announcement, the city said redevelopment could preserve parking while bringing more customers to Collegetown businesses during quieter periods.
Alderperson Margaret Fabrizio, the dissenting vote, raised concerns about negotiating around a particular developer and the potential property tax treatment, The Ithaca Voice reported.
The developers are considering seeking tax incentives, but the details of a potential application have not been determined.
The project remains subject to further agreements and approvals. The city has not approved a completed sale or authorized construction through the preliminary steps described so far.
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