An Atlanta-based developer is scaling back a proposed mixed-use development at Winston-Salem’s BB&T Ballpark, but the bigger question remains–whether or not the city and Forsyth County want to go in with the developer on a parking deck deal:
Winston-Salem and Forsyth County would still be providing parking, although with half the number of spaces at about half the cost. Under the proposal being considered by the Finance Committee,
Brand would build the deck and sell it to the city for about $8.3 million. Final approval of the city’s part of the deal must come from the full city council.
The city would pay for the parking lot by financing the purchase over 20 years. That would take about $609,000 per year. City officials say they estimate that, as proposed, the development would generate $6 million over 20 years, or about $300,000 a year.
So county involvement in the deal will be necessary, city officials say. Garrity said that it would take a commitment of about $300,000 a year from the county to make the deal work.
The city’s finance committee will consider the deal at today’s meeting.
