Worcester Parking Board Approves 22 Elm Street Lease
Worcester's Off-Street Parking Board unanimously approved a 10-year lease of 50 spaces at Pearl Elm Garage supporting a 22-unit affordable condominium development.
In this report: Key decisions · Full report · Sources
What happened
The board unanimously approved a 10-year lease of 50 non-reserved spaces at Pearl Elm Garage to serve a newly completed, 22-unit affordable condominium development at 22 Elm Street. The landlocked project required off-site parking, and the Pearl Elm Garage sits adjacent with occupancy under 30 percent, down sharply from 85 percent before the pandemic.
Key decisions
- 📝 10-year parking lease for 22 Elm Street condos. The board unanimously approved a 10-year lease of 50 non-reserved spaces at Pearl Elm Garage to 22 Elm Street LLC. Lease rates begin between $115 and $175, escalating $15 every two years; either party may terminate on 30 days' written notice, and any expansion beyond 50 spaces requires board approval. (Vote Unanimous). Read case details
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Full meeting report
The complete, section-by-section account of the meeting, 1,675 words, for members.
Checked against the record: before publication this article was automatically compared with the meeting transcript.
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