I expect that underground parking probably costs on the order of 1.5x more per space, and when it is an occupied building (instead of parking) above the underground parking, I could imagine that the supports for the above structure could reduce the efficiency of the below garage.
Generally speaking, surface parking costs ~$3,500.00/ stall and underground parking is around $14-$15,000.00/stall (both numbers excluding land costs). There is a desperate need for parking in that area as it starts to get denser, but underground is likely not the answer.
I was just going thru the submission from the original plans and it had a parking structure in the back that looks to be two levels. Counting rooms the project looks to be about 75 rooms so a 2 story garage is probably enough and could work as long as they can get rates to offset the extra cost. I think they will be in the rage of 120-135 for rates and with this already being upscale in the design it will be tough for a while until the area develops more so they could raise rates. All depends on how much equity they can bring quite honestly to make the numbers work and willingness to wait on their return for a while. Its an interesting deal that I really hopes goes as I think to will be a real generator for other development in the area.
I do appreciate the "art of the deal" which is being very important. I think a well thought out scenario for the security and protection of guests and their car is right up there as being very important.
If the below ground costs are prohibited, then level two should be considered for parking. A hotel should never want to be in negligent litigation with a guest because it did not provide the fundamental blocks of safety. Hampton Suites has set the standard.
I have the same concerns with Hilton Gardens Inn (HGI) and the Ramada Inn (RI) projects on the drawing board. Leasing space in the Cowtown Parking Garage might be an option for RI. HGI plans are getting shakier as more details become available.
How are A/C Marriott and Sinclair handling their guest parking; valet?,