Manhattan Project Beer Company will open a Waco taproom at the Foster Pavilion parking garage under a 15-year lease approved by the city council Tuesday.
WACO, Texas — The Waco City Council on Tuesday approved a 15-year lease agreement with The Manhattan Project Beer Company, bringing the Dallas-based craft brewery to the ground floor of the Foster Pavilion parking garage near Baylor University.
The resolution, passed April 21, authorizes a lease for approximately 10,260 square feet of space at 600 S. University Parks Drive, with two additional five-year renewal options. The agreement includes $2.49 million in owner improvements and is expected to generate an average of $241,711 in annual lease revenue for Waco.
The $2.49 million in owner improvements breaks down as follows:
$694,000 to bring the space to white box condition, meaning a partially finished area that includes basic infrastructure like HVAC, lighting and a finished bathroom.$1.796 million in tenant improvement allowance towards total area improvements, which includes mechanical installations, electrical and plumbing, framing, flooring and more.
The City of Waco projects it will recover its tenant improvement allowance by year nine of the initial lease term.
Manhattan Project Beer Company currently operates a taproom in Dallas, offering craft beer alongside a kitchen serving food throughout the day. The company plans to replicate that plan in Waco, including outdoor patio extensions, with a target opening of May 2027.
Additional details on the agreement can be found City of Waco City Council Meeting Agenda for April 21, in item E15.