Automated parking does not cost more than conventional parking
The capital expense to build an automated parking system might be lower, similar to or higher than the cost for a conventional parking structure. Still, unlike conventional parking, the savings from having an automated parking system do not end on the capital side but continue to the operational end.
The automated parking system uses less volume (up to 50% less), which could be used for revenue-generating uses such as additional units, commercial or retail space.
The operational costs of an automated parking system are composed of maintenance and utility costs. However, those are lower than the costs of conventional garage that require workforce, 24/7 lighting, elevators and ventilation.
At the end of the day the formula is simple: Similar capital costs, combined with higher revenue from freed space and savings on parking-related costs result in better ROI.