Tennessee Tech will build a new $39 million campus parking garage, one of three capital projects approved by the Board of Trustees.
The five-story parking garage would be located at the site of the tennis courts. Tech Senior Vice President for Planning and Finance Claire Stinson said the garage would not cure the parking woes, but will help.
“Somewhere between 450 and 500 additional parking spaces, which is not near what we need,” Stinson said. “Obviously, we will have to construct perimeter parking or additional parking garages.”
Stinson said the location is ideal as it is in proximity to several buildings and venues on campus, while adding to the existing parking. Stinson said with several construction projects underway, the parking need will only grow.
“Now, I have been very honest that we will be losing parking when we start on the construction of the JJ Oakley. We will be losing parking when we start our construction of the ACME Building, and so we are at the point where we need to get a parking garage,” Stinson said.
The board asked how the university will pay for the parking garage. Stinson said the university has options, but the likely option is through debt service, paid back by students.
“It is basically a fee to the students, but we have no other way of doing it,” Stinson said. “It will be in place of what they pay now for parking. It will be a little more expensive, and I am trying to work through that one with THEC because it does fall within our tuition range, and it makes it a little more difficult. I’ve got a couple of things that I can do is you know, start building the fee, and that’s probably what I’ll do and get some potential exception. It’s just desperate. It’s a desperate situation, and so you know, unfortunately, desperate situations do cost money.”
Stinson said another revenue source is to charge for parking in the garage for football games and events. The tennis courts will be replaced with a proposed tennis complex to be constructed at 12th Street and Pine Avenue.