Colorado-based company offers $15 million for downtown Raleigh parking deck

A company out of Denver is offering more than $15 million to purchase the Wilmington Street Station parking deck in downtown Raleigh.

The city received the offer before it had put out a Request for Information (RFI). The city was considering selling the deck and, as part of that process, drafted an RFI to understand the potential buyers and their interests.

WRAL has learned Gold Crown Management Company, based in Colorado, sent the city an offer to pay $15.4 million for the property. City councilors will consider that offer in their next meeting.

City councilors are expected to review the RFI in their next meeting. Once approved, the sale of the garage will go under an "upset bid" process. The city will advertise the offer terms and provide 10 days for other buyers to outbid the current offer. The city tells WRAL that advertising process will repeat until a 10-day bidding period passes with no qualifying bids received.

The Wilmington Street Station parking deck is popular with families because it offers free 2-hour parking and free weekend parking right across across the street from Marbles Kids Museum.

The museum attracts more than 550,000 people visit every year.

The Wilmington Street Station deck also offers free parking to employees of small businesses around Raleigh's Moore Square.

While the benefit of the sale to the city is clear -- it would offload the cost of maintenance and allow the city to collect property taxes from a new owner -- the benefit to residents is less so.

Gold Crown did not say in its offer whether it would continue to the free parking benefits that many enjoy.

Jonathan Frederick, Marbles Kids Museum CEO, said his staff encourages families to use the Wilmington Street Station deck, calling it cheap, safe and convenient.

A Marbles spokesperson said they met with the prospective buyer of the parking deck and expressed the museum’s concerns about losing access to 2-hour free parking

“We will explore all options and be as nimble as we can,” Frederick said. “But we think, nothing is going to beat two hours free, right? Especially if you’re a family, you see rising costs across the board.”

WRAL News asked the city why the Wilmington Street Station deck, of 10 city-owned decks downtown, was targeted for sale.

The city is not respond directly to that question but issued this statement:

"Our downtown has so much to offer and we welcome everyone. Fortunately, the City has 10 parking decks in the downtown area, as well as on-street parking and of course there are private decks. One point to note: the Moore Square Deck is just around the corner from the Wilmington St. Station deck and has ample spaces to serve that area," the city said.