1 Taylor Street: Redevelopment & Transit Center
1 Taylor Street is the site formerly known as the "Carr Lot” property. It is located on the east side of Taylor Street in the city of Montpelier at the confluence of the North Branch and Winooski Rivers. It is approximately one acre in size. It was purchased by the city of Montpelier in January 2014 and is currently leased by the State of Vermont for state employee parking. It is centrally located in the downtown business district and adjacent to the State's Capitol Complex. The City of Montpelier hopes to transform what was once a scrap yard and train depot into a state-of-the-art transportation and commercial center and public park. This project is funded through the Federal Highway Administration, the Federal Transit Administration and the City of Montpelier.
As part of this redevelopment project, the city has entered into a development agreement with Redstone to build the multi-modal transit center and rental housing on the upper floors.