Member News: WGI Releases Parking Structure Cost Outlook for 2021
WGI’s parking experts analyzed data from hundreds of completed parking structure projects of varying size, scope, and geographic location.
Material and labor shortages are the new normal, resulting in cost increases for both design and construction. These challenges are joined by above-average demand, manufacturing and shipping bottlenecks, and the ongoing recovery of local construction markets.
What does this mean for new parking garage construction and the cost for these facilities in 2021 and near term?