Southern California Association of Governmentssustain.scag.ca.gov/Documents/1-Parking Planning and...
Transcript of Southern California Association of Governmentssustain.scag.ca.gov/Documents/1-Parking Planning and...
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September 27, 2011
Southern California Association of Governments
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Parking Planning and Costs – Overview
• Building structured parking is usually the last thing you want to do.
• How many spaces do you “need?”
• Considerations
• Costs• Construction
• Maintenance – Long and Short Term
• Operations
• Cost/net new space
• Cost/use
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• Is building a parking structure a foregone conclusion?
• Are the number of spaces already decided?
• What are the cost-effective alternatives?
• “Has there been any discussion of cost?”
How Many Spaces Do We Need?
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It depends on your definition of “need” . . .
• Code
• Leasing, marketing or lending requirements
• Projected (modeled or observed) demand
• Design day
• Alternatives to driving alone
• Characteristics of the parking users
Given the High Costs, How Many Spaces Do We Really “Need?”
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Parking Preferences Comparedto Cost to Provide
Preferences for parking locations compared with cost
to provide:
On-street
Surface Parking Lots - $
Elevated Parking Structures – Opened - $$
Underground Parking Structure 1st Level - $$$$
Underground Structure Several Levels Below Ground - $$$$$$
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Operations Considerations are Crucial
• Adequate number of spaces is not enough to ensure success - Single vs. Tandem?
• Select method of operation/PARCS (Parking Access and Revenue Control System) best suited for application and user groups
• Tailor garage design to accommodate proposed operation
• PARCS costs = $30k - $100k per lane
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How Much Does it Cost to Build Parking? It Depends . . .
• Above or below-ground structure, surface lot• Efficiency of footprint (sq ft of parking area/space)• Topography and water table• Design • Construction delivery method• Method of operation• Parking user• Percentage of net new spaces• Façade• Land and opportunity cost for proposed site
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Costs to Provide Parking
• Above grade $14k to $20k per space • Underground $25k per space. Each level down +50%• Structures with plazas over top +$40K• Soft costs 35% of construction cost
• Design• Fees• Testing• Admin• Financing
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Covering the Cost of Parking
• To own and operate a parking space financed by GO bonds and service 100% of the debt without subsidies or equity payments, with NO land cost, requires:• at least $150 to $200/space/month
• $2/space/hour with typical CBD turnover, if operated 5 days/week
• >$1/space/hour with retail/dining/entertainment if operated 6 days/week
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Providing and Financing Parking
• Facilities financed with revenue bonds require at least twice the revenue/space to stand alone (although revenue bonds usually backed by other parking revenues)
• Private development would require 50% more revenue per space
• It is extremely rare for a new parking structure to generate enough revenue to pay for itself.
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Surface Parking Lots
Construction Costs: $2,000 - $3,500/spaceOperating Costs: Wide range – Median: $87/space
Average: $130/space
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Sample Operating Expenses
Payroll and Benefits 264.00$ Sample Size 16Security 3.00$
Management Fees 29.00$ Average # of Spaces 938
Supplies 13.00$ Median 773Accounting/Banking 7.00$ Smallest 134Insurance 20.00$ Largest 3637Utilities (All) 38.00$ Maintenance 21.00$ Miscellaneous 22.00$ Total Cost/Space 417.00$
Expense Category - Above-ground West
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Many, if Not Most, Owners Don’t Spend Enough on Maintenance
Type of Maintenance CIP Post TensionedRoutine (every year) $53/sp/yrPreventive (sinking fund for periodic exp)
$31/sp/yr
PARCS Replacement(every 10 yrs)
$20 to $40/sp/yr for PARCS replacement
Replacement (future capital repairs, 25 years)
$41/sp/yr
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Before Moving Forward
• Increase the efficiency of existing parking spaces• Public/Private/Peripheral
• Identify and implement drive-alone alternatives
• Determine realistic operational requirements.
• Understand the true costs• Land
• Construction
• Operations/Maintenance