Yes. With hundreds of thousands of extra dollars lying around you can do pretty much anything. However, I suspect your question is facetious.

To answer your question, yes, you can absolutely do it, and I can understand why you want to. Garages under the house are a pain for two big reasons: 1. Lugging the groceries up to the kitchen and 2. A much smaller basement with no room for much more than mechanical equipment. My old house in PA looked very similar to yours on the garage side, and I often daydream about the changes I wish I’d have made when I owned it—including what you’re proposing, but didn’t realize I could make at the time.