Quote:
Originally Posted by NYbyWAYofGA
What is it with these developers and these oddly configured projects? Why is it so hard to wrap a parking all the way, create simple square blocks and eliminate surface parking....?
|
Parking is an incredibly expensive part of overall construction costs. Surface parking on average costs between $5,000 and $10,000 to construct PER PARKING SPACE. Structured parking is exponentially more expensive and can cost $25,000 to $50,000+ per space. Underground Parking - forget about it - you're talking $50,000+ per space. Developers have a financial pro-forma to hit and trust me they don't enjoy sinking so much money into parking. But if the space allows, they're going to use the path of least resistance and lowest cost.
Don't beat up the developer or design team... demand changes at the City level on mandatory parking minimums or incentivize developers to be more thoughtful about parking with F.A.R bonuses or financial benefits.