ITHACA, NY (607NewsNow) — Ithaca is looking at a plan to re-develop a parking garage.

City officials want to transform 118 Dryden Rd. into a restaurant, hotel, and new parking garage. Mayor Robert Cantelmo says the proposal creates a chance to retain public parking and create new economic activity in Collegetown.

“Since conversations around this site first began in the 1980s, the City has envisioned a Collegetown that serves students, residents, businesses, visitors, and Cornell University. Adding a hotel and related services can strengthen the area’s economy while preserving a public parking resource that remains important to the neighborhood,” Cantelmo said.

The garage is almost 40 years old, and officials say re-developing the site would avoid future expenses maintaining the structure. There’s been no final decision.

Earlier this year, the Seneca St. garage was permanently closed. The Moosewood Restaurant created a petition for an independent study to repair the garage instead of tearing it down.