July 8, 2008
In development, municipal codes and zoning generally dictate parking requirements. For most office projects, parking requirements are generally in the ratio of 3.3-4 spaces per 1,000 square feet. For most multi-family developments which have a mix of 1-3 br, ratios are generally in the 1.5-2 spaces or stalls per unit. Retail can vary greatly, as the required ratio of parking for various retail uses can have a big impact on parking requirements, but generally requirement of 4.5 stalls per 1,000 SF is mandated, with requirements moving to 7-9 stalls per 1,000 SF for food-intensive retail centers.
The cost of construction for these parking stalls can also vary greatly depending on what type of parking is provided; will the parking be be subterranean or surface? will it be in a parking garage or in surface lot?
Pricing can vary greatly, but some back of the envelope pricing for the construction of parking in Silicon Valley is as follows:
- Grade-Level Surface Parking – $5,000 per stall
- Parking Garage Below Building
- Above-Grade – $40,000 per stall
- Below-Grade – $60,000-90,000 per stall
- Freestanding Parking Garage
- Above-Grade – $18,000 per stall
- Below-Grade – $40,000 per stall
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