APPENDIX D: Estimated Construction Costs for Parking

Assumptions:

Prices for Garage parking includes hard and soft costs
Soft costs are calculated as 18% of total hard costs
Prices for Garage parking based upon actual costs for Tuttle
6% annual inflation factor for garage costs, per Office of the University Architect and Physical Planning (APPO).
No major underground or environmental factors

Cost per garage space:

Calendar Year	Garage with Retail Shell			Garage without Retail shell
	Hard Costs	Soft Costs (18%)	Total	Hard Costs	Soft Costs (18%)	Total
1998	$12,000	$2160*	$14,160	$11,400	$2052	$13,452
1999	$12,720	$2290	$15,010	$12,084	$2175	$14,259
2000	$13,483	$2427	$15,910	$12,809	$2306	$15,115
2001	$14,292	$2573	$16,865	$13,578	$2444	$16,022
2002	$15,150	$2727	$17,877	$14,392	$2591	$16,983
2003	$16,059	$2890	$18,949	$15,256	$2746	$18,002
2004	$17,022	$3064	$20,086	$16,171	$2911	$19,082
2005	$18,044	$3247	$21,291	$17,141	$3086	$20,227

* Actual soft costs for Tuttle averaged 12%, or $1,440 per space, which is extremely low.

Cost per surface space:

Large lots (over 100 spaces): FY99-00 cost was $1,700 per space. Costs are estimated to increase to at least $1904 per space due to recent increases in oil prices.
Small lots (under 100 spaces): FY99-00 cost was $3,000 per space. Costs are estimated to increase to at least $3,360 due to recent increases in oil prices.

Source: OSU APPO

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