The Waller Creek Tunnel Project broke ground in April, and construction is said to be both on-time and on-budget.

Crews will soon complete the excavation of the entrance shaft to the tunnel located in the block directly west of I-35, between Fourth and Fifth streets, according to Carolyn Perez, public outreach coordinator for the Waller Creek Project. The project is separate from the Waller Creek District Master Plan, which applies to the above-ground portion of the project. The tunnel project is estimated to cost about $144 million and is funded by a 20-year Tax Increment Financing Zone. It is projected to be completed by 2014.

There are 12 sub-projects within the tunnel project, including construction of a new boathouse on Lady Bird Lake, which is expected to be completed by the end of January. Renovation of Waterloo Park will soon begin; the park will remain closed until 2015.

Stephanie McDonald, executive director of the Waller Creek Conservancy, said the group is hosting an international contest to develop a vision for the project's design. More than 30 landscape architects have submitted entries since December.

McDonald said the conservancy is currently working in partnership with community leaders to raise both private and public funds.