The 420-space car park will be located on the existing car park bounded by Edward, Queen and King streets. The plans will form the basis of a planning permit application to be lodged next week.

The proposed car park is expected to cost about $15 million and in addition to the 420 parking spaces will feature 1900 square metres of ground-level commercial space, lifts and stair access, bike parking, public toilets with baby change facilities and rooftop shade structures.

The main pedestrian entrance will be in Edwards Street, vehicle access will be from Queen Street and there will be both short and long-term parking options included, with more than 100 bays providing free parking for the first 1.5 hours.

The proposed building will maximise natural light and ventilation without the need for costly and energy-consuming air control systems.

City of Greater Bendigo CEO Craig Niemann said the council had tried to resolve the problem of parking for a number of years and was confident that the proposal would be well received.

“We’re confident we have the right people involved internally and externally to develop this.”

“It is a high priority of mine to make sure we deliver this,” Mr Niemann said.

“This is not breaking news, we’re in this space and we want people to view the plans and make comments.”

City Futures director Stan Liacos said assuming the ground level was leased, it was expected to have the development paid off in 11 years, and that all-day car parking would cost between $5 and $7.

Cr Campbell said the city was growing and parking was what people said they wanted.

“The next step is to lodge a development permit application for the building, which is expected to happen next week,” he said.

“Council will make a final decision on the development once planning approvals are in place, major tenants secured and construction costs have been more precisely determined through a tender process.”

The project will be funded by a variety of sources including council reserves, loans, general rates, parking fees and rent revenue generated from the ground floor commercial spaces.