Another office tower could be rising in downtown Richmond.

A developer is considering building on a sliver of land at 10th and Canal streets by the Expressway Parking Deck, according to officials with the city and the Richmond Metropolitan Authority.

They would not name the developer or give other details but said construction would require extensive coordination, because the building could rise partly over the parking deck. Also, a portion of the block sits above the Downtown Expressway.

The site is a small parking lot owned by James Center Development Co. of Jacksonville, Fla.

The property, assessed at $1.7 million, has been on the market about a year and been under contract since early this year, said Jeff Cooke, senior vice president of the Thalhimer/Cushman & Wakefield real-estate brokerage firm. He would not name the prospective buyer.

The parking deck, which opened in 1992 and is owned by the authority, has 1,000 spaces on nine levels, including three levels underground.

"It was built in anticipation that someday there would be a high-rise building built adjacent to that deck and actually cantilevering over a part of our air rights," said Robert M. "Mike" Berry, the authority's general manager.

The tower could include 10 or more stories of office space with retail on the ground level, said Rachel Flynn, the city's community development director.

The tower would be between the James Center and Riverfront Plaza. "It really is the Central Business District," Flynn said. "Our ultimate goal is to see that whole area built out."

In downtown, there's about 8.9 million square feet of office space with about 11.5 percent of it vacant, according to Thalhimer/Cushman & Wakefield. The climate favors tenants, not landlords, "but the Class A stuff always leases faster and always recovers faster, particularly in a down market," said Mark E. Douglas, senior vice president with Thalhimer.

About 376,600 square feet of office space is under construction downtown. That includes a 300,000-square-foot headquarters for MeadWestvaco Corp., in the block between Sixth and Seventh streets and south of Byrd Street. The building is scheduled for completion in fall 2009.

Contact Will Jones at (804) 649-6911 or wjones@timesdispatch.com.