Comment 43608

By Otto Stax (anonymous) | Posted July 18, 2010 at 07:25:54

Surface parking, as downtown dwellers might guess, is relatively cheap, running $1,000-$3,000 for surface lots. Structured parking on the other hand is not. In a marginal use area, it's only efficient in terms of density considerations; it definitely doesn’t seem cost-effective for a thrifty CFL franchise.

Kitchener and St. Catharines are more expensive options ($32,000-$44,500 a space) because of scale and finish; they’re in high-visibility downtown areas so people had to make them look nicer. EM would be able to cut corners. So let’s say $20K per spot by 2,000 spots = $40 million. Assuming you see capacity use for the Tiger-Cats’ 10 games a year and charge $20 a spot (you’d maybe give it a priority exit that would shortcut the surface lot gridlock), it would pay for itself in 100 years… as long as you overlook land cost, maintenance and staffing. You could obviously slap billboards all over the thing to help subsidize costs, but even then revenue stream is relative to venue usage (which is why you generally see these structures in 365-day environments).

A Pan Am Stadium parking garage has the potential to be the invisible white elephant in the room.

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