Our costs do not explicitly include the cost of land but do reflect a relatively higher cost compared to the baseline costs cited in the national VTPI report. Todd Litman, VTPI (and GreenTRIP Advisory Committee member), puts surface parking at $10,000/space and garage at $20-40,000/space (p. 5.4 – 17). We don’t currently have a cost for bike parking. Litman estimates it at 5% of a car parking space (p. 5.4 – 22). The table below shows the values we used to calculate the cost of parking construction:
Type of Parking Spaces |
Cost |
Surface Spaces (outside uncovered, or with canopy, but not enclosed, on-site and off-street) |
$20,000 |
Garage Structured Spaces (enclosed within a common garage at street level or above) |
$50,000 |
Underground Spaces (below street level, including partially underground) |
$80,000 |