A small assortment of businesses in the 400 block of Hazelwood Avenue have been flourishing of late despite suffering through decades of decline, but an expanded parking lot may just be the key to increased prosperity in the once heavily industrialized area. “I think it’s wonderful,” said Waynesville Alderman Jon Feichter. “I think it’s going to be a real benefit to Hazelwood. I think it’s needed and it’s going to be beneficial.” Preserving the identity of Hazelwood — at one time a separate town but now part of Waynesville — hasn’t exactly been a top priority for Waynesville since a financial collapse prompted the annexation in 1995. But as Waynesville looks to diversify itself beyond the bustling downtown Main Street tourist corridor, development in Hazelwood has taken on a new urgency. Key to that development is parking.