If your city commission just asked you to prepare a comprehensive downtown parking study, you are probably wondering:
- What should the study include?
- How do I make sure I do not miss anything?
- Most importantly—how much will this cost?
You are not alone. These are the exact questions we hear from city planners, downtown development authorities, and municipal leaders every day. In this guide, we break down the major cost drivers and provide you with practical tips to build a realistic budget.
Plan your Scope and Priorities
Develop an itemized plan that considers labor, data collection, analysis, and stakeholder engagement, with a final report and presentation to your administration and commission. Consider the needs for future growth and redevelopment. Keep your future growth goals realistic. Planning horizons greater than five years can often create expectations that do not align with actual project timelines, as most planning projects adhere to a two-year window.
Estimate Consultant Time and Costs
Estimate the time it will take for urban planners, operations, and technology consultants to manage and execute the study. Typical hourly or contract rates will apply, and costs may range from $40,000 to $100,000±, depending on the size of your city and the complexity of land use and future needs.
Collect and Analyze the Right Data
Data means everything. To establish a baseline analysis of current conditions, include on-site parking inventory counts, occupancy studies at different times, and potentially traffic counts and camera analytics sensors. We suggest budgeting as little as $5,000 for small towns to $40,000± for cities with advanced technology or large geographic areas.
Engage Stakeholders Early and Often
Collaboration means that stakeholders will always be partners in this process. Parking can be an emotional issue, and many policies that seem intuitive can actually create unintended consequences. We suggest budgeting for stakeholder and public meetings, online surveys, and print materials. Outreach can cost anywhere from $5,000 to $25,000.
Account for Mapping, Modeling, and Reporting
Lastly, you should account for GIS mapping, demand/usage modeling, report writing, and draft presentations of the findings and recommendations. Depending on direction from your administration and commission, these items can add $5,000 to $20,000 to your final budget appropriations.
What are your next steps?
Most importantly, don’t “short-sheet” your opportunity. You may have only one chance to get this right every ten years, so it’s worth making a proper investment. Taking advantage of federal, state, or local funding opportunities can improve your project’s feasibility, help fill financial gaps, and lower risk.
If you’re unsure of funding sources, consider combining budget allocation amounts over multiple fiscal years or partnering with your downtown development and management districts. You may find your peer organizations have just as much stake in the game as you.
Exploring all funding opportunities can help you better understand your options. Your consultant can research funding opportunities in your area and help you determine if your project qualifies.
Schedule a 15-minute consultation with one of our experts to pressure-test your assumptions and right-size your scope.