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Officials discuss redevelopment costs in College Park

Friday, Sept. 22, 2006

College Park officials said the long-awaited downtown redevelopment project, which includes a new City Hall, condominiums and a parking garage would not raise taxes for city residents.

City lawyers and Mayor Stephen Brayman discussed the costs of the city’s downtown redevelopment with residents Sept. 21, revealing that the downtown parking garage — the centerpiece of the project — would cost about $7.3 million. The city hired Alabama-based Capstone Development Corporation to head all the projects.

If all goes according to the city’s plan, College Park will make $67 million after spending about $46 million on the condo project.

Earlier this year, the city unveiled plans to move City Hall to Calvert Road, leaving the current City Hall site open for new condominiums. The condos will be nine stories, the city’s development outline said, which some residents felt would not mesh with the character of the downtown.