Capital City Urban Development will start construction of an underground parking facility that utilizes automated parking equipment. The Triangle Business Journal reports the company expects self-driving vehicles like Waymo to come to Raleigh and need places to be stored and charged. For now, the system works for any car.
The underground parking facility will have two levels and 228 spaces. The ground level will have loading bays where cars will enter and be lowered to the parking deck on an elevator.
Drivers will drive into the load bay, exit the vehicle and access a kiosk to have their car lowered. Drivers will use the same kiosk to retrieve their car. The system includes EV chargers at each space.
The 27,060-square-foot facility will cost $52 million. Clean Source Capital provided a $28 million loan while Pace Loan Group provided a $13.5 million C-PACE loan. The remaining $10.5 million will be covered by private funding.
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