KALAMAZOO (WKZO AM/FM) — PlazaCorp wants to buy Kalamazoo’s North Rose Street Parking Ramp to provide parking for a new development across the street.
The firm’s Development Director, Andy Wenzel told Kalamazoo Commissioners that they plan to invest $20-million, renovating the Old Masonic Temple for office space and adding a Hotel in the county parking lot behind the historic structure.
He says they need the parking to obtain a contract with a national hotel chain.
City Economic Development Director Jerome Kiskorney says the ramp is currently underutilized, it’s typically less than half full at any given time. He says it was assessed at $1.5-millon but PlazaCorp is offering $3-million.
It’s part of a much larger plan to develop the entire Arcadia Creek area, including construction of another ramp a block away along Kalamazoo Avenue.
City Commissioners will take a vote on the sale of the ramp, which was originally built just for this purpose, in two weeks at their April 17th regular meeting.
