So much for that BART transit-oriented development policy:
The BART board is expected to consider on Thursday an additional $37.1 million, 655-space parking garage to the Dublin station.
The proposed six-story garage would replace a current surface parking lot of 118 spots. A net 540 spaces would be added, according to a BART report. The estimated $37.1 million would include $8.6 million in design and $28.5 million in construction costs. Operating costs are expected to be $240,000 annually.
Some quick calculations show the annualized capital cost (at 5% interest rate) is $1.855 million. Including the maintenance cost ($240k) and daily parking fee ($2.50) that comes out to a daily $8 subsidy per commuter!
There are currently 3,100 people on the reserved parking waiting list. So even after spending all that money, it won’t do anything to improve parking availability.