Groundbreaking for the new Aggieville Parking Garage is set to take place Friday.
City officials closed the parking lot along Laramie Street, south of Rally House where the new structure will be constructed. A virtual ceremony for the new garage is scheduled at 4 p.m. Friday with Mayor Usha Reddi, city staff, architects and the general contractor on hand.
The new garage is expected to be completed by the end of 2021. It will be five stories tall, with 450 parking spots and will have 8,000 square feet of space for possible office and commercial space.
The project is estimated at just over $17.7 million, with revenue from Aggieville’s Tax Increment Financing district anticipated to cover $11 to $12 million of the project cost. The remainder will be covered by the city’s 0.5 percent Economic Recovery and Relief sales tax.
