The future of the Lichfield street carpark has now gone out to public consultation.
One possibility could see council retain ownership of the eight storey building and the other would have it sold, freeing up the costs involved in running it, and paying rates to invest in other infrastructure.
Councillors voted in June for the carpark to be put out for public consultation from November 10th.
Head of facilities Bruce Rendall says the potential sale of the carpark with the $50 million dollar building was raised by Council in their 2025-2026 Annual Plan.
“The carpark is currently profitable, generating an operating surplus of approximately $1.5 million per year or a 3% return on investment.
"However, these are not the commercial returns expected, and it is appropriate to examine options for the carpark’s future.”
Rendall says it is important the Council understands the views and preferences of the community before making a final decision.
“We understand the carpark has filled an important role since being built following the earthquakes.
"It has successfully supported the rebuild of the Central City by providing short-term off-street parking for shoppers and visitors."
Councillor Andrei Moore has voted against the sale of the carpark, worried about the freedom a private owner would have.
“I think the city is about to get very very busy, and someone will only take it over and jack up prices and end up with a further privatised monopoly over parking in the city”.
Moore wants the Council to explore other options that could create more revenue so they can keep ownership.
“We can also consider other options like leasing out some of the parks, or some of the levels in the parks for long term parking."
Randall says if the decision is to sell the car park, the private owner could only use it for that purpose, and parking fees are likely to become competitive to attract usage.
Public consultation for the carpark is open from now until December 7th.
