Garage Construction Holds Firm for 2007

In this article the author describes the state of the parking garage construction market in 2007. The market for such construction, like many others, plummeted in the wake of the terrorist attacks on the World Trade Center in 2001, when many projects were delayed or abandoned. The market has, however, experienced a minor recovery since 2005. Construction costs are up, which has somewhat retarded efforts at recovery- with lots that would have previously been estimated at $11,000 per space now requiring about $16,000 a space. This price increase, it is noted, has caused builders to re-evaluate the number of spaces in their structures. Currently, the top geographical markets for the construction of new parking structures are, in order, California, Florida, and Washington, D.C., Texas, and New York.

Language

  • English

Media Info

Subject/Index Terms

  • TRT Terms: Construction; Costs; Parking garages
  • Subject Areas: Administration and Management; Construction; Finance; Highways; Terminals and Facilities; I10: Economics and Administration;

Filing Info

  • Accession Number: 01050401
  • Record Type: Publication
  • Source Agency: UC Berkeley Transportation Library
  • Files: BTRIS, TRIS
  • Created Date: May 9 2007 5:17PM