|The budget for the parking garage was set at nearly
$14 million in fiscal year 2004, but the Mayor's administration has
shaved those costs to under $11 million through value engineering,
project management and a competitive bid process. As previously announced,
that savings will be reinvested in downtown Knoxville to aid in the
construction of a movie theatre.
"The project team worked diligently and successfully to bring
this facility in on-time and under-budget," Mayor Haslam said.
Knoxville's Community Development Corp. served as the project manager,
and Realty Trust Group as the owner's representative. Ross/Fowler
served as the architect, and Johnson & Galyon as the general
Daily parking rates are $1 for the first two hours, then $1 per
hour up to a $7 daily max. Monthly parking rates are $80 for corporate
spaces, $40 for residential spaces. Parking in the Market Square
garage - as well as State Street and Locust Street garages - is
free after 6 p.m. Monday through Friday and all weekend, with the
exception of certain special events like UT football.