Greenville City Council approved a resolution Monday night to proceed with development of a new parking garage, hotel and retail space at the corner of Washington and Richardson streets in downtown Greenville.
Greenville developer Robert Hughes, doing business as Greenville Three LLC, submitted plans that will transform the 1.28 acres into a 125-room, “national brand” hotel above a new parking structure.
An existing private parking garage currently on the site would be demolished to make way for a new structure that will have 470 spaces for monthly parking, hotel guests and short-term parking. Councilwoman Gaye Sprague said this will help meet the parking demand in that area.
The development agreement calls for the city to fund about $12 million towards the parking structure and would be financed with a combination of parking fees, Sunday alcohol sale permits and money from the downtown TIF fund.
The project will also have 35,000 square feet of retail, office or residential space to be built on the ground floor along with a hotel lobby area.
“This is the next exciting public/private partnership in downtown Greenville,” said Greenville City Manager John Castile.
Hughes submitted plans last week to the city Design Review Board to renovate the adjacent Bank of America building and Richardson Street Garage.