Montpelier officials announced a land purchase yesterday that will bring the city closer to its planned "Multi-Modal Transit Center" near the Statehouse and the Department of Motor Vehicles Building.
The city purchased a long-empty surface lot from Alan Carr, who was previously renting the property to the State of Vermont, for $1.4 million.
"Acquiring these properties is a critical step in redeveloping this important part of Montpelier," said Mayor John Hollar in a news release.
Assistant City Manager Jessie Baker said construction on the project is expected to start in the fall of 2014 and take about 18 months. It will include the Multi-Modal Transit Center as well as a park and an extension of the city's bike path over the North Branch of the Winooski River.
The total budget for the entire project is about $7.8 million, Baker said, most of which will be funded by the Federal Highway Administration. The Multi-Modal Transit Center will include a publicly funded first floor and privately developed upper floors.