Tamiro Plaza is a privately owned lot between South Austin Avenue and Sixth Street.
To acquire the site, two city-owned properties will have to be swapped. Both properties are approximately 0.6 acres in size, according to the city.
According to Jennifer Bettiol, Georgetown capital improvement projects manager, Tamiro Plaza will house a four-level garage and will alleviate parking congestion on the square.
Two design proposals were presented to City Council at the workshop. One would bring 231 parking spaces and include a 4,900-square-foot retail space. Three levels would be above ground with a fourth level underground. The projected price is $14.42 million.
The second option would also have four levels, all above ground. It would bring 292 spaces and a 6,300-square-foot retail space for $13.87 million.
Other soft costs include replatting, topographic survey and demolition.
Funding will be provided by the remaining 2019 certificates of obligation, the American Rescue Plan Act, and city tax revenues through the downtown tax increment reinvestment zone. No bond will be issued.
The design process is expected to take six weeks, plan review 10 weeks, and construction anywhere between 12 and 14 months.
Completion is slated for spring 2024.
WGI Engineering Firm, based in Frisco, Texas, has completed over 2,000 parking-based projects nationwide. Georgetown began work with WGI in 2020.
