Mangaluru: Amid the parking woes faced by motorists in the city, the work on the long-pending multi-level car parking-cum-retail space project at Hampankatta Junction will commence on November 2.
The multi-level car parking (MLCP) facility will come up at 1.55 acres of land at the old bus stand area and is estimated to cost around Rs 95 crore.
City mayor, Premananda Shetty informed that the project is being taken up on public-private-partnership (PPP) model and is expected to be completed in 36 months.
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The MLCP facility, once completed, will comprise commercial space and can accommodate 430 vehicles and this he added will reduce the parking and traffic woes in the city’s busiest commercial hub. The project will be executed on the basis of design, build, finance, operation and transfer basis as per which the concessionaire will design, finance, construct, maintain and operate it, he said.
Initially, the project was to implement through MUDA but the city corporation in 2014, decided to execute the project on its own (through PPP). After Mangaluru city was selected under the Smart City Mission of the central government, the MLCP project was included in Smart City projects.