City approves permit for $21 million VyStar Downtown parking garage

The 807-space structure will support the credit union’s growing Northbank campus and include ground-floor retail.

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VyStar Credit Union is a step closer to breaking ground on its planned parking garage at 28 W. Forsyth St. Downtown.

The city issued a permit Aug. 3 for contractor Danis Builders LLC to build the seven-level, 807-space structure with shell retail space at a cost of $21 million.

The 1.04-acre site comprises two surface parking lots behind Regions Bank. 

A credit union spokeswoman said previously that 250 parking spaces will be leased to the city and will support 1,000 VyStar employees.

The garage will have 19,516 square feet of retail space. 

The planned VyStar Credit Union parking garage at 28 W. Forsyth St. Downtown.
The planned VyStar Credit Union parking garage at 28 W. Forsyth St. Downtown.

VyStar CEO Brian Wolfburg said in March that several tenants are interested in the garage. He said coffee vendors, breweries and a dog day care have contacted VyStar about the retail space.

Dasher Hurst Architects is the architect.

The credit union bought the 23-story VyStar Tower at 76 S. Laura St. in July 2018 for $59 million. It acquired an adjacent parking garage and is renovating a seven-story building next door at 100 W. Bay St. 

VyStar took over the project in September 2019 from Laura Street Trio developer SouthEast Development Group LLC.

City Council approved an agreement to sell a 0.77-acre city-owned lot to VyStar for the parking garage. 

VyStar entered into a contract with Regions Bank to buy a 0.26-acre parking lot at 54 W. Forsyth St. for the parking garage design expansion.

Regions posted a sign on the fencing surrounding its surface lot that says temporary parking for the Downtown branch will be available Aug. 16 at the 1 W. Bay St. parking garage.