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SAN JOSE-Despite the fact that retail, hotel and residential space in downtown San Jose is projected to increase by up to four times its size in the next decade, the San Jose Redevelopment Agency (SJRA) has only approved one parking structure in the area since 1989.

The parking structure that has been approved is being built at Fourth and San Fernando Streets, but still the city will need an additional 4,000 to meet Downtown’s need.

These figures have caused the SJRA to start designing plans that will provide 4,000 spaces on five different sites for an estimated cost of $157.8 million. The majority of these funds will likely be raised through bonds, as the city only has $14 million in the budget for parking.

The SJRA will vote on the proposed five sites on Nov. 6, and will take immediate action to accommodate the need for 2,000 parking spaces downtown. The remaining spaces will be built for future use.

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