The Somerville Board of Aldermen Thursday approved a measure that would seek to develop a hotel in Davis Square.
Under the measure, the city would issue a request for proposals from potential developers to build a hotel on the current site of the parking lot at Day and Herbert streets.
In addition to parking, that parcel is currently also used in spring, summer and fall for the Davis Square Farmers Market.
According to the Board of Aldermen proceedings, the city tried a few years ago to entice hotel developers to the area. The parking lot, along with two other parcels, were included in that proposal, but with the downturn in the economy there wasn't interest from developers.
Now the city is trying to take advantage of an improving real estate market in the area, Finance Committee Chair Maryann Heuston said at Thursday's meeting.
She said the current market value of the site is about $1.14 million and that the city "wants to keep the proposal as flexible as possible."
One area where there might be less flexibility is with parking.
According to the Board of Aldermen proceedings, hotel proposals would have to present a parking plan.
"Whatever parking is included in any proposal would have to be tightly monitored," said Ward 6 Alderman Rebekah Gewirtz, who represents the Davis Square neighborhood.
Years ago the city made a decision not to allow long-term parking in the area.
"There wasn't a desire to have an Alewife-like situation" where commuters would park in Davis Square all day in order to ride the Red Line subway train into Boston, Gewirtz said.
"Long-term parking has long been discouraged in Davis Square," said Alderman At-Large John Connolly.