On Tuesday, The Waco City Council approved a 15-year lease with Manhattan Project Beer Co. to add a brewery, taproom, restaurant and coffee bar in the unfinished first floor of the city's University Parks Dr. parking garage. The Dallas-based company will fill about half of the city’s 20,000 square foot retail space.
As part of the deal, the city will finish the first floor retail space, paying up to $2.49 million in finishing cost.
"We put [the garage] up kind of quick and we always knew we’d have to come back and fix that first floor later," Mayor Jim Holmes said during the meeting.
The brewery is expected to be open May of next year. The city expects the lease to generate $3.6 million in revenue over 15 years. The lease comes with two 5-year extension options. Holmes said the brewery, which will face the Foster Pavilion Plaza, will help elevate event experiences at basketball arena and event center.
"I think that whole section is going to activate," Holmes said, highlighting other investment coming to University Parks. "I think on game day its going to be great, on non-game day its going to be great."
