The Main Street parking lot is one of the key opportunity sites identified in the 2001 Comprehensive Plan and the 2009 Downtown Strategic Plan. Both plans recommend mixeduse commercial and residential development of the Main Street parking lot portion of the site. While neither of these plans incorporate the Giesche property into their recommendation, the property was not available when the abovementioned long-range plans were drafted.
The market study conducted as part of the 2009 Downtown Strategic Plan recommends that the Village add a minimum of 450 new dwelling units to the downtown to support the existing businesses and increase the vitality of the central business district. The 2013 Streetscape and Parking Study also recommends that the Village partner with a developer to construct a parking garage in the downtown through a public private partnership, rather than constructing a standalone garage, to maximize the Village’s opportunities and reduce Village construction costs. The study identified the Main Street parking lot as one of three preferred sites to incorporate a parking structure as part of a private development on the south side of the tracks. The proposed project would meet these and a number of other goals outlined in the Village’s various long-term plans.