Town of Blacksburg

PROJECT DETAILS/COST ESTIMATES

Town Manager

Department

Project Title

Progress Street Over/Under Parking Garage

Status

Existing

Project Description

Properties were purchased in 2012, 2014, and 2024 by the Town to preserve the Town's ability to plan and construct structured parking in the downtown core at a future date. The scope of the project includes an initial feasibility study, architectural design, construction documents, and construction. The study will focus on the layout and functionality of an over/under parking garage and how it will interact with the existing buildings, transportation network, and surrounding neighborhood. The over/under garage will add to the network of parking downtown including North End, Kent Square, and Midtown parking garages.

Goal Addressed

Sustainability

Estimated Start Date

Estimated End Date

Summer 2027

Fall 2029

Funded through 6/30/2026

Total Five Year CIP

Funding Sources General Fund

Total Project Funding

FY2027 FY2028 FY2029 FY2030 FY2031

$50,000

50,000

$0

General Obligation Bonds Water & Sewer Fund

$9,010,000

9,010,000

$9,010,000

$0 $0 $0 $0 $0 $0

$0 $0 $0 $0 $0 $0

Stormwater Fund Solid Waste Fund

VDOT Revenue Sharing

VDOT Smart Scale

Other/Grants Total Sources

$9,060,000

$50,000

$0

$0 $9,010,000 $0

$0 $9,010,000

Appropriated through 6/30/2026 FY2027 FY2028 FY2029 FY2030 FY2031

Total Five Year CIP $1,351,500 $7,658,500

Expenditure Type Design/Engineering Land Acquisition Vehicles/Equipment Construction

Total Project Cost

50,000

1,351,500 7,658,500

$1,401,500 $7,658,500

$0 $0

$0 $0

$50,000

$0

$0 $9,010,000 $0

$0 $9,010,000

Total Uses

$9,060,000

Operating Impact

The ongoing maintenance of the over/under deck will be the responsibility of the Public works Department. Parking management would be contracted out, similar to the Town's arrangement at Midtown.

Town of Blacksburg

30

FY 2027-2031 Adopted