Work on the park to be located near Dixie and Nancy streets could begin within four to six weeks if Charleston City Council approves the low bid Monday.
McClanahan Construction of Poca submitted the low bid of $429,985, plus the $34,000 alternative.
The only other company that bid on the project was Oval Construction Management of Charleston. It submitted a $676,911 bid plus a $61,425 alternative.
The first phase of the 2-acre park could be completed by spring, Gilmore said.
The first phase will include an entryway with an iron arch overhead. Pavers and concrete will make up the walkway leading into the park.
The walkway will include space for public art, and the pavilion will sit at the end of the walkway, Gilmore said.
A paved walkway around the park will be added in the second phase as will a large green space on the back side of the pavilion.
No funding has been identified for the second phase of the project.
The authority also agreed to transfer to the city a deed for a small parcel of land on the East End near the Roosevelt Community Center on Jackson Street.
The city's Parks and Recreation Department will construct a playground on the site. The city will pay about $25,000 to build playgrounds at the Jackson Street location and at Magic Island.
The authority also agreed to allocate $7,500 for a fence around the Jackson Street playground.