The Capitol Hill Times has a great article about the challenges faced by Capitol Hill Housing as they work to transform the East Precinct parking lot on 12th Ave near Pine into a mixed-used development with housing, retail and community space. The Times properly identifies the barrier: the East Precinct’s demand for expensive ‘structured parking stalls,’ as we wrote about earlier. The planned development has 75 spaces planned, the police department says they need double that to provide adequate parking for its employees. But Capitol Hill Housing’s director of fund development Michael Seiwerath points out that the Times didn’t quite get it right in their print editions about just how expensive the parking stalls really are.
Capitol Hill Times reported cost of each stall: $7,000
Cost according to Capitol Hill Housing: $40,000
The $2 million difference is enough to knock the project off balance and make it impossible to build, Seiwerath and Capitol Hill Housing contend. He says the mayor is aware of the issue and has the authority to solve the gap. We’re following up with the mayor’s office to find out what they’ll do next.