Hybrid Parking Garages Blog Posts

Spring 2014 Construction Economics - Gilbane Edge - Cost of Parking

Posted by William Wieners on Sun, May 18, 2014 @ 16:05 PM

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Gilbane Edge has published their latest look forward for 2014 Construction Economics

Gilbane Edge 2014 Construction Economics

Spring 2014 edition of Construction Economics - Market Conditions in Construction

http://info.gilbaneco.com/spring-2014-gilbane-building-construction-economics-report---market-conditions-in-construction

Whether you are interested in the trends effecting the cost of parking garage construction or the overall trends effecting the construction industry as a whole, we recommend you taking a few minutes to read what other industry observers are saying about the future of construction.

We believe in the mutual benefit we all achieve from sharing informative publications with our readers (that can be obtained from reputable sources) to help all of us interested in the construction industry be best prepared to service our clients and markets in 2014 and beyond!

How Much does a Parking Garage Cost to Build?

Wells Fargo Economic Indicators

McGraw Hill Construction

Dodge Momentum Index Leading Indicator

Parking Costs, Pricing and Revenue Calculator - Jan 2012 (by Todd Litman - Director @ the Victoria Transport Policy Institute, Victoria, BC Canada - http://www.vtpi.org

 

Famous Quotes:

"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)

 

Topics: parking garages, hybrid parking garages, parking, garages, cost of parking, parking garage construction, parking garage feasibility, cost to build parking, parking design, Parking for adaptive reuse, Construction Economics, Gilbane Edge, parking garage design, design build, parking garage design build, steel and precast, steel garage, hospital parking, hospital garages, hospital development cost, robotic valet

2013 Cost of Parking Construction - Gilbane Construction Economics

Posted by William Wieners on Mon, Dec 10, 2012 @ 17:12 PM

Affordable Efficient Hybrid Parking Garages

Hybrid Parking Garages

Gilbane Inc. has recently published their latest winter report on the Economics of Construction for the US in 2013 and beyond, including trends and material costs.

Whether you are interested in the trends effecting the cost of parking garage construction or the overall trends effecting the construction industry as a whole, this narrative is an excellent read heading into 2013.

We believe in the mutual benefit we all achieve from sharing informative publications with our readers (that can be obtained from reputable sources) to help all of us interested in the construction industry be best prepared to service our clients and markets in 2013 and beyond!

Please feel free click on the LINK BELOW to sign up @ Gilbane's website and view the report: 

Gilbane Building Company

Winter 2012 edition of Construction Economics - Market Conditions in Construction

We hope you find Gilbane Inc's information as helpful and informative as we did. Below are additional links from Hybrid Parking Garages and other sources that may also be of interest.

How Much does a Parking Garage Cost to Build?

Well Fargo Economic Indicators

McGraw Hill Construction

Dodge Momentum Index Leading Indicator

Parking Costs, Pricing and Revenue Calculator - Jan 2012 (by Todd Litman - Director @ the Victoria Transport Policy Institute, Victoria, BC Canada - http://www.vtpi.org

 

Famous Quotes:

"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)

 

Topics: parking garages, hybrid parking garages, parking, garages, cost of parking, parking garage construction, parking garage feasibility, cost to build parking, parking design, Parking for adaptive reuse, Construction Economics, Gilbane Edge, parking garage design, design build, parking garage design build, steel and precast, steel garage, hospital parking, hospital garages, hospital development cost, robotic valet

Parking Design Cartoons and the Cost of Parking

Posted by William Wieners on Mon, Jun 4, 2012 @ 21:06 PM

 Affordable Efficient Hybrid Parking Garages

Hybrid Parking Garages

What is the cost of your parking design when you are pricing from a cartoon?

In today's unstable market owners are seeking to take advantage of apparent bargains in the construction industry.  However the risk to all parties by buying "low bid" fragmented services from disparate firms continues to escalate as the industry contracts and financial instability grows.

Getting a low price for services or thinking that going design/bid/build is going to save money or is of greater value today than five years ago is probably not the best approach to create the best value for a project.

What has happened to the VALUE that traditionally resulted from CRITICAL THINKING?

What we see happening today in parking design translates into... You have a project... and you bid for a designer... they create a cartoon from which hungry construction firms invent prices for little or no fee.  Now you have an owner and designer who have unknown liabilities presenting a scheme which may not ULTIMATELY work for the proforma and/or patrons.  

You are now OFFICIALLY LOST IN THE LAND OF THE PARKING DESIGN CARTOON AND CRAYON SPREAD SHEET!... Add in "GROUP THINK" and "EGO" and it is a very bad day at the bank!

Group think in Parking Design

As the magnitude of costs start to sink in.. what do you do now that you realize that your proforma will not work because the cost of your parking is beyond your budget or worse beyond your ability to finance?  

You didn't know what you were getting into because there was no way to reasonably value the concept from the beginning.

Overcome Groupthink

For Example... we recently had the opportunity to help someone who was faced with the disconnect of a "PARKING DESIGN CARTOON" that went as follows:  

1) They had hired a design firm.

2) The design firm provided a concept based on what they had done in a "TIER ONE" market.

3) The team embraced the concept given to them "for fee" by a reputable firm but for a "TIER TWO" market.

4) The team then priced the concept and came to find that the parking was considerably more than what the proforma would bear.

5) In addition to the price being beyond the budget the concept was not user friendly for patrons with ramping and distances having to be traveled beyond practicality.

6) There also appeared to be 30% more parking spaces planned than were needed.

7) The overall site utilization was inefficient and huge opportunities for land banking were lost because of the way the concept integrated the parking into the entire development.

The challenge that was presented to us to solve was....

"HOW CAN YOU HELP ME GET THIS TO WORK?"  They had already tried to make the "CARTOON MORE EFFICIENT" but the total savings from all this effort resulted in only a few percentage points of cost savings and not nearly enough to solve the problem.  If they can't solve the parking... it will "KILL THE DEAL".

Our response... Toss the "PARKING DESIGN CARTOON & START OVER WITH THE CRITICAL THINKING PIECE FIRST"... 

"What?"  "Why?" we have a good team in place and this should work... our response was that it would work but it isn't affordable, efficient or user friendly... and then within the next HOUR TOGETHER... we helped show them what to consider to significantly lower the cost of their parking.  In addition to our parking design recommendations the changes we recommended would also result in considerable savings in OPERATIONS, MAINTENANCE and in the reconfiguration of the cash generating piece of the development.

We showed them that to get to the numbers they wanted they would have to scrap the "PARKING DESIGN CARTOON" not the team.  Implement changes and the result would be an overall savings in the whole program.  It should be ORDERS OF MAGNITUDE less costly, more efficient, more user friendly and most importantly meet your proforma.

This is a difficult situation for all involved, even us, to sit there and tell an experienced group that their "TEAM" has missed the mark.  The firms and people involved just didn't know... "OFF HAND" that the CARTOON wouldn't work... They didn't consider all aspects of what they were programming and were predisposed to "WHAT THEY HAD DONE BEFORE".

Don't forget critical thinking for parking design

Before you start with your next project and "PARKING DESIGN" ask yourself about the "COST OF FRAGMENTATION" and whether or not you want the fragmented approach or a more seamless approach to reach your overall goal of best value.

You have to ask yourself... How can I benefit from the right people at the table from the beginning... to get everything I need to take that first step in parking design and control my costs of construction and development.  

 

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There is much that traditionally goes into to the selection process of owner's when choosing the team for their next project.  When you are considering how to deliver and who to hire, please don't forget to add in the intangibles when planning your approach to your parking program and don't forget to consider the VALUE of CRITICAL THINKING.

 

"Service is the only thing that people buy that they never know the value of until after they have bought it"

 Famous Quotes:

"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)

Topics: parking garages, hybrid parking garages, parking, garages, cost of parking, parking garage construction, parking garage feasibility, cost to build parking, parking design, Parking for adaptive reuse, Construction Economics, parking garage design, design build, parking garage design build, steel and precast, steel garage, hospital parking, hospital development cost, robotic valet, Parking Construction, Affordable Parking, Temporary & Movable Parking, Urban Parking Concepts, ReloPark, robotic parking, automated parking

The Cost of Tomorrow's Parking... Have you considered this?

Posted by William Wieners on Sun, Feb 5, 2012 @ 22:02 PM

Affordable Efficient Hybrid Parking Garages

Hybrid Parking Garages

 

Parking is simply the creation of new Land.
Parking in most cases is "lost revenue" and a non-income generating cost of development.
Parking - Is an amenity.
Parking - Should be efficient - low cost.
Parking - Should be user friendly.
Parking - Value is subjective.
Parking cost is a function of cost of land, infrastructure, efficientcy and construction.
 
Parking Cost Hurdles
COST HURDLES: ORDERS OF MAGNITUDE
 
On Grade Parking @ $4,000-$8,000/space.
Stand Alone Structured Parking Garage @ $12,000-$24,000/space.
Automated Parking Garage @ $40,000-$70,000/space.
Underground Parking Garage @ $40,000-$100,000/space.
Automated Parking Equipment (Installed Equipment Only) @ $25,000-$60,000/space.
Shuttle Bus Parking Services (Not including Land Lease) @ $250.00-$350.00/space per month.
Temporary & Movable Leased Parking Facilities @ $350.00-$500.00/space per month (includes on grade parking spaces)
 
** The above are an approximation of Magnitude of Costs
*** All Parking Garages are built using a "HYBRID" of materials including steel and concrete.  Steel with concrete decks, cast in place concrete with steel reinforcing cast in the field or prestressed concrete with steel cast in at a casting yard.
Parking garages are most often delivered using one of the following construction methods:
Design/Bid/Build - Hire consultants to develop plans and then select a low bid from a construction company based on a lump sum and delivery date.
Design/Build - Hire a design builder to deliver your parking garage including design, construction and delivery duration.
Construction Management - Hire consultants to develop plans to a certain percentage then bid to construction managers and award to the construction manager with the lowest fee and general conditions.  The construction manager bids the work to subcontractors and then selects, typically with knowledge and input of the owner.
 
Mark Twain once advised, “Buy land, they’re not making it anymore.” No doubt he was aware of the sky-rocketing cost of land in the rapidly urbanizing world of the Industrial Revolution.
 
 
In the beginningToday
 
 
 
 
 
 
The Wrong way to Park:
 
How not to Park
 
The Right way to Park:
 
Determine what you want... and what you believe provides you the greatest value.
 
Apply critical thinking through collaboration to insure that you get the most affordable, efficient, patron friendly, sustainable, low maintenance and durable parking solution available for your unique parking challenge.
 
Don't get hemmed in by group think or by outsourcing your critical thinking to others.  Which ever way you go, in the end, it is always your risk. 
 
Consider this... We don't buy cars, or anything else for that matter, by hiring someone to tell us what to buy.  We don't get one expert for the engine, the body type, the tires, or the interior... we do our research and ultimately decide what we want and can afford. 
 
Whenever we purchase something, the logic always starts out with what do I think I need? what do I think I want to satisfy my need? how much am I willing to spend to get what I want? what can I afford to spend? and in the end what does the thing I am buying mean to me after I have paid for it?
 
For most of us... this is how we live our lives... how we create the critical path to value what we purchase.
 
Parking, should be, is no different.
 
In the end, parking ultimately comes down to the availability of "LAND" that governs the largest magnitude of cost to your development.  The rest is important but not the driver... don't get lost in group think.
 
Establish the Critical Thinking piece first... then direct your resources to achieve your parking goal accordingly.
 
 
Famous Quotes:

"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)

 
 

Topics: parking garages, hybrid parking garages, parking, garages, cost of parking, parking garage construction, parking garage feasibility, cost to build parking, parking design, Parking for adaptive reuse, parking garage design, design build, parking garage design build, steel and precast, steel garage, hospital parking, hospital garages, hospital development cost, robotic valet, Parking Construction, Affordable Parking, Temporary & Movable Parking, Urban Parking Concepts, ReloPark, robotic parking, automated parking

Optimize the Cost of Parking - US Parking Cost Estimates

Posted by William Wieners on Sat, Jan 28, 2012 @ 18:01 PM

Affordable Efficient Hybrid Parking Garages

Cost of Parking

ARE YOU TRYING TO GET YOUR HEAD AROUND THE COST OF PARKING?

Owners need to know what it costs to deliver parking to their campus or development.

How parking is delivered is the key to optimizing your cost of development while still providing safe and patron friendly parking solutions.

Parking, especially structured parking, traditionally has been a considerable cost of development and site planning, this will be no different in the future. 

As the construction industry regains it's footing we should re evaluate how we meet our development proformas in the new economy and determine what is needed in the near and long term for our optimal parking planning.

Local codes, FAR, balanced site requirements (urban vs. suburban), sustainability, durability, patron friendliness, safety, operating costs, maintenance and the hidden costs of preserving infrastructure are drivers for all parking approaches internationally.

To follow are "LINKS" to several interesting articles that may be a helpful place to start when you start considering what you want for parking and a suitable parking approach for your campus or development.

Knowing your costs, both capital and hidden, is the first step in insuring your team of consultants and contractors deliver what you want.  Having experts tell you what you need and setting your proforma and expectation with the smartest person at the table or "group think" will never guarantee that you "get what you want".  Parking is "simply the creation of new land", nothing else and it needs to be approached with this in mind inevitably taking into account your local neighborhood, campus, traffic patterns, usage, patron friendliness, and safety.

Setting the expectation and the goal posts is the owner's most important first step in having the most affordable and patron friendly parking solution for their campus or development.  Leaving the details up to the experts has been the way parking has been delivered for the past twenty years, but in the new economy a different more collaborative, affordable and informative approach to parking plannig will yield the optimal/greatest value for each unique/individual clients campus or development.

I hope the following will help you in setting your unique "parking expectation" as you investigate what you want your team to deliver in the end.  Critical thinking, collaboration, transparency and setting the goal vs. group think, in the end, will always lead you to best value.

To be clear, experts are vital to a parking developments success, however knowing what "you" (the individual and unique client) "wants" is ultimately the most important step in delivering "you" what "you" expect.

HAVE YOU CONSIDERED THIS WHEN CONSIDERING THE COST OF PARKING?

US PARKING COST ESTIMATES:

Transportation Cost and Benefit Analysis II – Parking Costs (Victoria Transport Policy Institute)

US PARKING COST ESTIMATES: http://www.vtpi.org/tca/tca0504.pdf

 

PARKING GARAGE DESIGN GUIDE:

Whole Building Design Guide – Parking Garages (National Institute of Building Sciences)

http://www.wbdg.org/design/parking.php

 

Parkhaus   Car Park web resized 600

 

PARKING SPACE AUCTIONS:

http://ideasspotter.com/2011/09/drivers-auction-public-parking-spaces/

 

Cost of Urban Parking

 

THE COST OF URBAN PARKING:

http://www.rideboldly.org/2011/01/21/the-cost-of-urban-parking/

 

True Cost of Parking

 

THE HIDDEN COSTS OF PARKING:

http://www.cat-bus.com/2010/08/hidden-costs-of-parking/

Famous Quotes:

"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)

 

Topics: parking garages, hybrid parking garages, parking, garages, cost of parking, parking garage construction, parking garage feasibility, cost to build parking, parking design, Parking for adaptive reuse, parking garage design, design build, parking garage design build, steel and precast, steel garage, hospital parking, hospital garages, hospital development cost, robotic valet

How much does a Parking Garage Cost to build?

Posted by William Wieners on Mon, Jan 23, 2012 @ 02:01 AM

Affordable Efficient Hybrid Parking Garages

Hybrid Parking Garages

 HOW MUCH DOES A PARKING GARAGE COST TO BUILD?

"Park it Right Here"Cost of Parking

 

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

Famous Quotes:  

"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)

 

Topics: parking garages, hybrid parking garages, parking, garages, cost of parking, parking garage construction, parking garage feasibility, cost to build parking, parking design, Parking for adaptive reuse, parking garage design, design build, parking garage design build, steel and precast, steel garage, hospital parking, hospital garages, hospital development cost, robotic valet