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Automated Parking Garage Cost

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Automated Parking Garage CostAutomated Parking Garage Cost

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AUTOMATED PARKING SYSTEM COST

Traditionally in Real-Estate developments, the value of building conventional parking goes by “cost-per-space” measure, which springs from summing all parking structure building costs and dividing it by the parking capacity (number of spaces). Naturally, a developer or architect exploring an automatic parking system for their project will ask the seller, “how much per space”?

In Automated Parking, this is often a difficult question to answer since it’s to think about the System Performance or what percentage of cars the system can process during a given time frame.

Consider the following scenarios:

Two automated parking systems with a 300 spaces capacity are built. The structure cost in each of them is identical- let’s assume $3MM.

System A features a performance level of 100 cars/hour, while system B features 200 cars/hour.

System B will have more system components (lifts, shuttles, etc.) than system A.

Let’s assume the equipment cost for system A is $4MM, and for system B, it’s $7MM.

In total, System A will cost $7MM, and system B will cost $10MM.

If divided by the capacity (which is 300 spaces for each), system A will cost $23,333 per space, while System B will cost $33,333 per space.

Doesn’t conventional parking require the same rule?

At now, you’ll probably ask yourself, “how come performance isn’t an element in conventional parking”? the truth is that performance should and does matter for conventional parking. The difference is that in conventional parking, the “system performance” is how long it takes drivers to urge to their cars (elevator/stairs), drive it down the ramp and leave through the gate.

Scenarios of automated parking system cost structure (Automated Parking Garage Cost).

The difference between conventional and automated parking cost

In a sense, in conventional parking, the driving force “pays” the performance level’s value by physically going to the car and driving it out. In contrast, there’s an equipment cost to supply the adequate performance level in an automated parking system.

There are other considerations when comparing automated parking and traditional parking costs, like revenue generation from saved space and ongoing operational costs savings which contribute to a faster ROI with automated parking systems, which we’ll touch on in future articles, except for now, when asking “how much per space?” also add “and what’s the associated performance level?”

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