How Much Does It Cost to Build the Average Parking Garage?
There are many variables to such a project, and dominant issue is size. The Means CostWorks site places the average parking garage at 145,000 square feet. This is assuming a five-story construction with each story measuring in at ten feet in height.
The building of parking garage requires a knowledgeable contractor, an architect or an architectural firm, a team of subcontractors, and a cooperative developer/owner to get the job done in a reasonable time frame. It is also going to entail a great deal of site preparation and machinery costs.
- Most parking garage projects should use materials and techniques that fall under the highest quality ratings possible in order to ensure stability, safety and longevity. Such a building would run at an average of $8.56 million to complete. This does not include acquisition of the land or any demolition costs, however.
- The above figures place this construction at a $59 per square foot cost, though a national average of stands between $50 to $70 for most projects. This pricing structure assumes that masons and excavators charge an average of $70 per hour, electricians between $65 to $85 per hour, and plumbers between $45 and $65 per hour. Should the work be done in the "open shop" format, and without union labor, the total costs would decrease by an average or roughly $1.2 million. This would drop the cost per square foot to roughly $51 per square foot for the same project and materials, but not all areas can legally create structures of this kind with non-union labor.
- Materials would cost around $6.5 million, contractor fees would cost roughly $1.6 million, and the architectural costs would stand at roughly $392,000.
What is included:
- Steel framing;
- Concrete block backup;
- Brick facing on complete structure:;
- All plumbing, masonry, carpentry, and electrical services as needed;
Most developers of parking facilities rely on both an architect and a contractor, and the architect will require approximately 6% of the total building budget;
- An architect or architectural team will:
- Determine the scope of the project and establish a preliminary budget;
- Draft list of proposed work, budget, and outline of plans;
- Create the schematic design and draft floor plans with elevation drawings. Then work with any structural engineers and meet with planning agencies to verify any requirements;
- Finalize drawings and incorporate all details about materials and finishes, any fixtures or equipment, and all systems in the structure;
- Serve as the overall development manager and review the plans with any required local agencies while also obtaining necessary permits. (If contractors are to be used it is at this point that they must be selected);
- Serve in an advisory capacity to select contractor and help the client through the bid review process as well;
- Complete construction documents; and
- Administer the construction, ensure that contractor's requests for payments are accurate and that all "final" details are corrected or finished by the contractor
- A contractor will:
- Provide the services and materials required for the entire job;
- Hire subcontractors according to need;
- Suggest plans and ideas to architect/owner to help them meet goals;
- Deliver final cleanup of entire job site;
- Pull all permits for work and utility installation; and
- For doing all of the day to day management of the project the contractor earns around $12 per square foot. They might also "mark up" supplies and services as well. For example, on a parking garage project, as described here, the contractor would earn around 25% of the budget and could account for more than $1.5 million in markup and indirect fees.