Spending money on building a parking space can be a tough decision to make. Parking costs can significantly affect the project’s financial aspect. Here are the main problems which can impact the costs of building a parking space.
Construction costs tend to vary by location because of factors like availability of materials and labor costs. Also, the cost will also be influenced by factors like soil conditions and higher seismic regions have a big effect on cost.
The structural system makes up 60% to 70% of the parking costs. This, it is important to pick the right framing system. Framing layouts can be a short or long span. Generally, short-span systems tend to cost less per square foot; however, comes with lesser efficiency. And while long-span systems cost more per square foot, they get more stalls in the similar square footage.
Generally, a shorter, bigger-footprint parking structure is expected to cost less per parking space than a taller structure that has a smaller footprint. A taller structure is heavier and this impacts the foundation costs. And because the packing layout for this structure is less efficient, every parking space requires more square feet.
Structures constructed in areas that have poor soil conditions which require deeper and pricier foundation systems tend to cost more. The parking lot construction cost can increase up to 10%, depending on how deep or shallow the foundation system is.
Look for the Parking Structure
The cost of parking space can be affected by the cost of ensuring the structure is aesthetically pleasing. To reduce the cost per square foot, consider using the structural system to make a desired architectural look. But, the cost will increase when extra architectural elements are used. In fact, such increase can go uncontrollably if the architectural design makes an inefficient structural system.
Efficiency refers to the amount of square footage for every parking stall. If it requires more square feet to build per stall, the cost per stall increases.
Overall Project Size
A smaller project costs more every space than a bigger one. A parking structure with 200 stalls on a small site cost around 30% more per square foot than a structure with 1,000 stalls located in a lot with a reasonable site.
Items like the photovoltaic system that covers 50 percent of the top level can add around 25%-30% to the building’s cost per square. Also, the cost will increase because of special site conditions like the need for demolition and rerouting utility lines.