Residents of Plant Zero Art Center & Ink Building:
Due to the high level of feedback that Fountainhead Properties received after announcing that Central Parking Systems was taking over the management of the parking lot located between 3rd Street and 4th Street, directly beside Plant Zero Art Center, a follow-up notification was deemed necessary in effort to explain the reasons behind the conversion from a “free” parking lot to a fee based system.
Fountainhead Properties began negotiations with Central Parking Systems approximately two years ago, and, after extensive research, decided to employ them to begin management of the parking lot in January 2012. The main factors that lead to finalization of this contract were the increasing number of financial obligations associated with maintaining ownership of the parking lot. Annually, Fountainhead Properties pays approximately $28,000.00 in bills associated with the parking lot, not including maintenance expenses. This expense includes: Real Estate Taxes, Storm Water Run-Off Taxes, Utilities for Lighting, and the Mortgage payment. Fountainhead Properties has offered this parking lot at no cost to the tenants of Plant Zero and surrounding businesses for several years. Fountainhead does not hope to recoup this entire amount annually, let alone expect to come close to making a profit; however, it has become necessary to implement a system to offset some of these costs.
The owners and management team of Fountainhead Properties have been in the past, and remain, strong advocates of the Arts Community and the Non-Profit Organizations that contribute to the expanding development and culture in New Manchester, and in Richmond as a whole. Our company looks to the residents and businesses for support in this transition, and we believe that the growing number of vehicles that opt to utilize the street parking along Hull Street, Decatur Street, and Stockton Street will decrease the speed of the thru traffic in the area; as well as, add to the walk-able, urban feel of the community. In addition, in effort to increase the lighting in this area, and encourage street parking, Fountainhead upgraded the light fixtures along the edges of the parking lot so that more light is projected in this area at night.
Fountainhead realizes that this is a big change that will require an adjustment period; however, we hope that this clarification sheds some light on the reasons behind the decision to implement a fee-based structure for use of the parking lot. We thank you in advance for your understanding, and we look forward to seeing the area grow and adapt to the increasing population of the New Manchester area.
Please feel free to contact Rebecca Bryan, the Director of Property Operations, at Rebecca@fountainheadproperties.net if you have any additional questions, concerns, or feedback.
Thank you again for your support,
Fountainhead Properties
