In 2019, the median construction cost for a new parking structure was $21,500 per space and $64.77 per square foot, increasing 5.1% over 2018.
Airport Parking is Flying High (Parking Today December 2019)
• By Gary Cudney, PE, Senior Vice President, WGI; Ted Anglyn, MAI, CCIM, President, Parking
Property Advisors, LLC; Jonathan Austin, Development Director, Parking Property Advisors, LLC
Click here to download this article in PDF format.
Read the full publication on page 39 in the December issue of Parking Today.
Gary Cudney recently co-authored an article titled, “Reclaim Your Revenue – TNCs are Impacting Your Airport’s Revenue Stream,”. After that article published, Ted Anglyn with Parking Property Advisors (PPA), contacted Gary and advised that PPA was also researching Transportation Network Companies’ (TNCs) impact on airports. PPA compiled data for 23 airports including total enplanements, parking rates, parking revenue, and total revenue. In addition, these airports’ annual reports were searched to understand the impact of TNCs, like Uber and Lyft, on the airports’ overall revenue streams. This article represents a collaborative effort to evaluate the data compiled by WGI and PPA, assessing the big picture while analyzing the “TNCs effect.”
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