The board of directors at the Seward Park Cooperative voted last night to award a 10-year lease for its parking garage to “City Parking.” Earlier this month, Icon Parking informed the co-op that it would be pulling out of its agreement to manage the garage.
In a memo to residents today, management indicated that City Parking would be taking over the garage beginning Thursday (Feb. 28). Parking rates will be unchanged.
Controversy erupted at the Seward Park Co-op in 2016 when the board opted to go with Icon. A handful of residents unsuccessfully sued the board. About 380 people with assigned spaces were enraged at the prospect of handing their keys over to a valet. The switch was made to accommodate more cars, and to generate revenue from public parking.
According to the memo, most of the parking garage staff is expected to stay. Discounts will be announced shortly for guests of residents and members of the public who use the Seward Park Co-op’s garage.
Seward Park Co-op, located along Grand Street between Essex Street and Pitt Street, is one of the largest residential complexes on the Lower East Side. In recent years, the co-op has struggled financially due to spiraling property taxes and costly building maintenance issues. The parking garage entrances are located on East Broadway and around the corner on Clinton Street. Information was not immediately available on the terms of the new contract.
