ANN ARBOR – On a waiting list for one of the many packed downtown parking lots?
This could be some welcome news.
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The city has decided to offer temporary monthly parking permits for the Y Lot at the corner of Fifth and William.
The permits are now available for $230 per month for the 86-space lot next to the Blake Transit Center and across from the Ann Arbor District Library's downtown branch.
"In an effort to minimize operational costs, the lot will be used for monthly permits only, eliminating the need to purchase equipment for hourly ticketed parking," Ann Arbor Downtown Development Authority communications director Maura Thomson told A4 via email. "The lot will be available for permit holders until the City moves forward with plans for the property."
A permit can be purchased by emailing parking@a2dda.org or by calling 734-994-6697.
The news comes as the city mulls plans for the lot it purchased back from developer Dennis Dahlmann for $5.2 million in May.
In April 2014, the city sold him the lot for $5.25 million under terms that he had to redevelop the property within four years. After four years passed, the city had the right to repurchase it.
The city hopes to turn the property into affordable housing units and there is talk of building a new downtown library on the lot as well. Officials say the latest appraisal estimates the property's value could rise to $11 million if redeveloped.
For now, the city has found a way to monetize the space until development plans are finalized.