Days after the village board approved the $110 million Maple Street Lofts development downtown, Mount Prospect is moving forward to address the lack of parking in the project area.
At Tuesday's village board meeting, trustees approved an intergovernmental agreement with the Mount Prospect Park District for commuter parking at Lions Park during the period of construction.
The village board also approved spending up to $248,500 for design and construction engineering services for a new 268-space parking deck southeast of the downtown Metra station.
As construction takes place on the Maple Street Lofts and the northern end of the existing Maple Street Commuter Lot, the village said, 165 parking stalls will likely be displaced. Between 115 and 120 spaces will remain available in the southern portion of the lot.
Under the intergovernmental agreement, 91 spaces will be leased at a portion of the Lions Park lot for commuters to park on weekdays. The spaces will be reserved for Mount Prospect residents.
The 18-month lease will start June 1 and cost the village $100,000, officials said. It can be extended beyond that for another $5,500 per month.
The village also will reserve 63 parking spaces on Prospect Avenue for residents only. The spaces currently are available to all commuters.
"In a nutshell, the loss of the 165 resident-only commuter parking spaces displaced by construction of the Maple Street project will be offset by 204 replacement spots," Public Works Director Sean Dorsey said.
The village plans to use tax increment financing district funds to build the new 268-space parking garage. The design contract was awarded to Walker Consultants of Hoffman Estates, which has led similar projects in Palatine and Libertyville.
"I have worked with Walker in the past on a five-story building in Chicago, and they are a really well-qualified firm," Trustee Ricard Rogers said.
The Maple Street Lofts project on the south side of the village's downtown includes a six-story, 192-unit apartment building with 14,000 square feet of retail space; a seven-story, 65-unit apartment building; nine structures with 56 row homes; and the new parking deck, all along Prospect Avenue near the downtown Metra station.