In the Cost Guide - 2 lines below the item for UG parking garages - there's an item for (Premium for unusual circumstances) with a rate of up to $215/sf. I assume it's been added as a worst case scenario.
That’s right. Which takes it to $480 PSF. I can’t show my work in public, but I am very confident that $450-million is a good ballpark number.
@innsertnamehere makes some good points. The garage will also generate revenues and serve other uses. However it will also incur its own operating costs and even, before the Therme lease expires, demolition costs.
I think the questions of cost, infrastructure and placemaking are linked. Is this the right place to concentrate large institutional uses (in big opaque buildings) that require a lot of parking?