How to get the best ROI from your project
When you’re creating a new building design on a particularly tight or narrow site, the need to incorporate sufficient parking capacity will no doubt be a primary concern.
Whether your project is a commercial building or residential tower, including adequate parking spaces is mandatory to ensure the best ROI from your design. And of course, council requirements for parking capability simply aren’t negotiable.
Yet of course, your project won’t even be financially viable unless you can somehow design around the need for adequate vehicle parking. What’s more, traditionally a narrow site might be considered to be of lower value than larger sites, simply because many developers don’t know the value of them and what can be accomplished.
Is it any wonder that there’s recently been debate about whether skinny or narrow sites are worthwhile developing at all!
So how do you do accomplish all this within budget? The answer might lie in an unusual solution.
How much do parking ramps really cost?
You might think that losing a few parking spaces to ramps isn’t a big price to pay. However, it’s vital to carefully consider the true cost of a parking space in the specific area you’re developing in.
When you’re designing around a tight site in an upmarket area, the land will naturally be worth a great deal. This means that in Brisbane for example, each car space may be worth as much as $60,000; but in a highly sought-after area such as Potts Point in inner-city Sydney, each car space may be worth up to $220,000 or more.
You can see that, if you have to sacrifice say 8 parking places in order to make room for ramps, that’s a massive cost to be made up in your design.
Ensure you get ‘the hole story’ on parking lot excavation costs
When you’re designing a conventional parking setup for a very tight or restricted site, you’ll need to incorporate sufficient ramps at the maximum recommended gradient of not steeper than 1:8 – or other, depending on the local building regulations.
Once you’ve accounted for this, you’ll find your parking design might only be able to incorporate about 4 spaces on each level. Because of this small ratio of parks to parking level, you’ll find you need more levels... more excavation... and much more expense.
So if you’re under the impression that investing in a car lift or parking stackers is an expensive way to create sufficient parking spaces, think again. It may not be any more expensive – or even slightly cheaper – than the cost of excavation, along with the disposal of waste dirt.
A customisable solution to parking design for tight sites
A parking solution that does away with ramps completely, minimises the need for excavation, and is completely customisable to fit within a tight space, is car lifts and car stackers – or a combination of both.
By helping you to minimise ‘wasted’ space and do away with the need for ramps in your carpark design, car lifts and stackers can help make it easier for you to meet and exceed a building’s parking requirements.
Talk to us for a customised solution with car lifts and stackers
If you’d like to speak to a design consultant about how car stackers and lifts could work with your narrow or tight site, get in touch with LevantaPark on 1300 993 548 or fill out the contact form here.