01-14-19 Handout Mayor GlasserThe Six Pieces of Information You Need
to Accurately Budget Structured Parking
Warren Buffett once said, "Price is what you pay. Value is what you get.1
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By: Kyle Myers
Value -based pricing is a technique for setting the
price of a product or service based on the perceived
value it offers to customers. In construction, value -
based pricing can significantly affect your return
on investment. For example, if you fail to receive
a guaranteed lump sum price from your design -
builder, the value can quickly diminish as change
orders and schedule delays pile up.
Developers budgeting for structured parking often
rely on data reported in construction industry
publications. Studies conducted in 2017 show that,
depending on the source and project location, the
median price ranges from $16,500 to $26,500 per
stall. But this wide range of prices can dramatically
affect a go/no-go decision for many development
deals. Given the fact that most developers agree
one building type ideally suited to a design -build
contract is structured parking, there is a better way.
With only six pieces of information, it's possible to
receive a guaranteed lump sum price for your
specific parking structure, at little to no cost and well
below market prices.
L!Developing Your Bud eL Guaranteeing
Vc do F—ngv As 1.2.3 -
TI -e- ,c r ee- os ',e!p oe+ermine c budget
Or'y0_' r' 'r'uc'l `.d paring project.
e - • • V,' hot is the Size acral shape of
-re c`:, able !arc'? Geometr}- is the rr st critical
`cc+., o;,erc.! c cs, etficency. Understanding the
size -,-j -,�aoc _ e',ond ova1able is essential to
des gr' _ r,e ^-a-` cost-effective structure possible
0 = - How many parking
spaces ore needed and who', will the parking serve?
All of -,he requirements and uses of the structure
must be Coker ; s consideration. For instance, is
retail space desired at the ground level?
0 _ _ What other
build!rgs are arc.:ro Tne site? A full-blown site
pian isn't ess.enti; _o conceptualize the parking
structure in the early stages. However, it is important
c understandother buildings will occupy or
C- r- or tre s. -e 'heir approximate locations.
d ffer bet�Veen a parking structure
_ l - v ,encs and one that occupies
C ,.-r_ _
.s Your Bud-g�-'en-,!=
7
final Three Pieces tot
Ai*era evier r'hee rst t'rree items, there a enough i
1
nfcrn-dt ar tc cerercte a budget number for
j your 013.,eC . Tr -e :ext three itemshelp to narrow
as u I ^s ar,d rcr^e 'your budget.
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=' • e.` �_. Ho,v da you want
the ex'ericrta a^r? The designer can work with you
to uncle stc,nc the !e vel of aesthetics you require.
For exompie, aces it need to resemble the buildings
arouno 172'
What is the projects ize
and canasta- of `re so`f'a These affect foundation
types v hich can ce o significant price driver. A
site at -d project specific geotechnical report is
necessary to provide pricing for your site.
0 .. " - re there any
other eure^-lens e a. carp access, payment
stotions)? The .more refined the project specific
requirements become, the more refined your
budaet.
By working with a vertically integrated design -
build company like FINFROCK to determine final
information for each of the six criteria above,
you'll receive a guaranteed lump sum price - a
price which also includes design. We can do this
where others can't because we combine the
advantages of in-house design with the expertise
of the manufacturer and the experience of
the self -perform contractor. With all design,
manufacturing, and construction professionals
in-house, we have constant feedback from all
teams, as well as an exceptional database of
cost information. Drawing upon these resources,
FINFROCK accurately prices even the most
complex structures without complete plans
and in a timely fashion. By delivering the best
price possible, owners receive the benefit of
significant risk reduction.
About the author:
Call us for an accurate
budget or, with the right
information, a guaranteed
K
lump sum price at
0
(407)293-4000 or visit
finfrock.com
Q scan me
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go to: http://fiinfrock.com/ FINFROCK
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