The City of Fredericksburg has opened a free, temporary parking lot on the south side of William Street at Barton Street, across from the former Free Lance-Star building. The entrance is from William Street.
The city is paying W.J. Vakos & Company about $1,958 per month for use of the 83 to 85-space parking lot, according to Bill Freehling, director, Fredericksburg Department of Economic Development and Tourism.
W.J. Vakos & Company purchased the 90,000-square-foot building on the north side of William Street — formerly home to The Free Lance-Star — and the parking lot across the street in 2015, and plans a mixed-use development on the site.
The city will use the lot for public parking, while the company goes through the public planning and permitting process for its development, according to City Manager Tim Baroody.
City staff brokered the agreement with W.J. Vakos, and City Council approved it during their February 14 meeting. The deal runs through October 15, 2017, at which time both sides can decide whether or not to extend the lease.
The Fredericksburg Planning Commission will determine on March 15 whether the lease is in accordance with the 2015 Comprehensive Plan, Baroody said. The deal could be cancelled.
“The lease is one of many efforts that city leaders are making to add more parking inventory downtown,” Baroody said. “The city is currently working with Walker Parking Consultants on a parking action plan for downtown.”
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