A publicly owned parking garage at Liberty and Second streets downtown will be sold to BB&T, and another public parking deck will be listed for sale, the Winston-Salem City Council decided last night.
One Triad Park, which is underground off Liberty Street near the BB&T Building on Second Street, will be sold to BB&T for about $1.7 million, according to city documents. Assistant City Manager Greg Turner said the sale would close as soon as BB&T was ready.
"It's really up to them and their attorneys," Turner said.
The council also voted to advertise the Cherry-Marshall parking deck for sale. That deck is near the Embassy Suites hotel, between Cherry and Marshall streets. The parking deck also includes a pedestrian walkway over Cherry Street that leads to the Marriott hotel.
Boston-based LAZ Parking Realty Investors has bid $1.9 million for that parking deck. City officials will advertise that bid; another potential buyer would have 10 days from the day the sale is advertised to bid more.
Both the vote to sell One Triad Park and the vote to advertise the Cherry-Marshall deck for sale were unanimous.
City Manager Lee Garrity said the sale would save the city from spending about $4 million to repair both garages. The city also owes about $97,000 it borrowed to pay for repairs to the decks.
Garrity has said that selling the parking decks would help the city subsidize other decks it owns around downtown. Winston-Salem spends about $500,000 a year to maintain those decks.
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