New parking deck in Saratoga Springs a possibility

PHOTOGRAPHER: Marc Schultz

Parking lot area at Embassy Suites on Congress St. in Saratoga in April 2015. The new parking deck being discussed would be nearby and could potentially benefit Embassy Suites.

The City Council is willing to consider building another parking deck in the city if it helps to attract hundreds of additional jobs.

The City Council on Tuesday unanimously adopted a resolution supporting the idea of a deck at Congress Park Centre, but not committing the city to construction.

The city’s move is being made in hopes of influencing Ayco Company, a financial services firm that has offices in both Albany and Saratoga Springs, and is looking at consolidating those facilities, and perhaps other locations, as well.

City Finance Commissioner Michele Madigan, who proposed the resolution, said the current city Ayco workforce of about 200 could increase to 1,000, but parking would be a major issue if that many additional jobs came downtown.

The prospective parking deck would be at the southern end of the downtown zone. Ayco is located there, and the location would be close to where the Embassy Suites hotel was built last year. The site is already approved for a parking deck, though it hasn’t been built.

No cost estimate has been released, but parking decks typically cost several million dollars.

The city has built other parking structures in recent years, but this would be the first built under a potential public-private partnership.

The resolution passed on Tuesday says the city is willing to discuss the idea with the state, Saratoga County, property owner Brause Realty, the business community and others.

“This is non-binding in every way. At this point we are only showing an interest to move forward to discuss and investigate the potential options for constructing and maintaining a shared parking structure that I do believe could have good public benefit,” Madigan said.

Other council members supported the resolution but expressed concern about having the city make what could be a large financial commitment to aid a single company.

“I have some reservations about whether I would support it down the road,” said Public Works Commissioner Anthony “Skip” Scirocco, the council’s only Republican. “It’s too risky.”

“This is not a commitment, but at the same time we’re going to look at it right away,” said Accounts Commissioner John Franck.

Mayor Joanne Yepsen said a deck used for business employees during the day might be available for public and hotel use in the evenings. The garage would be part of a larger package of economic incentives aimed at convincing Ayco to consolidate in the city, she said.

“This could be a win-win-win,” Yepsen said. “This is a once-in-a-lifetime opportunity.”

Ayco is owned by Goldman Sachs, the worldwide financial services giant.

Reach Gazette reporter Stephen Williams at 395-3086, [email protected] or @gazettesteve on Twitter.