Lubbock, TX (KCBD) – It is a $25 million project in the shadow of the Jones AT&T Stadium for students and fans.
Raider Park is scheduled to open in time for the first home football game in September. "Many universities are trying to do what we are doing in order to embrace and handle growth," said local developer Clayton Isom with TAO Development Group who saw the need for more than just parking near Texas Tech campus. "This is a local project entirely backed by local equity," he added.
The 11-story parking garage will have 1,500 spaces available to students during the week and to fans on game day for a fee. "You look around here on game day and there is a need for more parking," said Vice President of Texas Tech Alumni Association Bill Dean.
According to the Red Raider Club, 100 percent of parking spaces during the past football season sold out. Raider Park spaces will be sold through the Texas Tech Alumni Association. Spaces are not limited to members and do not include the price of tickets to the games. "We'll sell spaces for $1,500. That is tax deductible and it is a dedicated space with covered parking and security only 920 feet from the stadium," said Dean.
It's not just a parking garage. The blue print also includes a 18,000 square foot restaurant and rooftop lounge. The facilities will be open to the public year round and exclusively to fans with Raider Park passes on game days.
Texas Tech Alumni Association will pump profits from parking pass sales back into the classroom. "Whatever profits we make on it will be for scholarships and that is obviously a crying need at Texas Tech," said Dean.
The project is expected to make $1 million in the first year. Developers say construction will create 300 jobs and permanently create 25 to 30 jobs.
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