Almost half of the money for a €7 million underground car park at The Strand, Sliema, will come from a fund amassed by the Malta Environment and Planning Authority.
The planning authority board has decided in principle to commit the entire Commuted Parking Payment Scheme fund for a 200-space underground car park, which will replace the existing spaces at the Ferries, which will be landscaped and turned into a public space.
The fund, which at the moment stands at around €3 million, was amassed over the years from fees paid on commercial developments in Sliema, which created a demand for parking.
Mepa chairman Austin Walker confirmed the authority had committed the funds but was keen to stress the decision will now depend on the car park’s actual permit.
“Although on the surface it seems like this is a desirable project, which will replace the rather shabby-looking car parks we have right now, the board still has to look into the application’s details and make a decision,” Mr Walker said.
The proposed underground parking would be excavated underneath the existing car space and adjacent central strip, and later landscaped.
The public space would feature several large, yacht-like masts and cables, passageways, gazebos and even a small kiosk.
It would also include a system of culverts designed to alleviate flooding in future.
In spite of the challenging site, which is actually reclaimed land and is prone to seawater flooding, the construction is only expected to take one year from the date the permit is issued.
The architect responsible for the plans, Joe Bugeja, is a specialist in marine engineering.
The plan is to use ready-made concrete structures, which would be simply laid into the pit after it has been excavated.
The car park may be handed over to the Sliema council but a decision has not yet been taken by the Resources Ministry, sources have told The Sunday Times.
However, in line with suggestions from the business community in the area, the idea is for the car park to encourage short stays, promoting turnover.
The ministry is hoping to have planning permits issued by the end of the year or early 2013, with a view to start work immediately.