How much does a Parking Garage Cost to build?
HOW MUCH DOES A PARKING GARAGE COST TO BUILD?
"Park it Right Here"
LINKS TO MORE INFO ON THE COST OF PARKING:
CONSIDER THIS WHEN CONSIDERING THE COST OF PARKING
US PARKING COST ESTIMATES AND THE COST OF PARKING
What does a parking garage do to YOUR Proforma and to YOUR development cost?
Materials prices are on the rise and commodity prices continue to be volatile with limited supplies, stockpiling, and investment firms/hedge funds buying up finished goods to protect yield.
Couple this reality with the continued instability/volatility of the construction industry and you have a perfect storm of "more risk" that some how needs to be qualified for YOUR successful proforma.
There is always substantial risk in "guessing/winging it" when it comes to how YOUR approach to parking will impact YOUR cost of development. How do you know what is the "best value" for YOUR development and patrons? Which way should you go?
Don't fall into the trap of "guessing/winging it" or using a dollar per space number you used on a different development or heard from "an industry" contact. Each project's parking application is unique and the only way to "establish a reasonable range" is to establish the "capital cost estimate" and then divide that LUMP SUM value by the total number of spaces "added" or "developed".
Don't get trapped... structured parking is simply the creation of new land... get an order of magnitude and PROTECT the cost of YOUR development.
Successful parking development is simply delivering what you want... "the most affordable, efficient, durable, sustainable and patron friendly" parking solution that is uniquly tailored to your individual wants. Don't get boxed in by someone telling you "what you need", determine what you want and then get the right team to deliver it.
Please feel free click on the LINKS BELOW and view these other reports:
Winter 2012 edition of Construction Economics from Gilbane Inc - Market Conditions in Construction
Parking Costs, Pricing and Revenue Calculator - Jan 2012 (by Todd Litman - Director @ the Victoria Transport Policy Institute, Victoria, BC Canada - http://www.vtpi.org
"Price is what you pay. Value is what you get" - Warren Buffet (1930- )
"In God we trust. all others bring data" - Dr. W. Edwards Deming (1901-1993)