NORTHPOINT | THE SITE
NORTHPOINT | OVERVIEW
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NORTHPOINT |CHALLENGES OF URBAN PARKING
 Parking doesn’t pay for itself (Challenging Returns & Underwriting)
 High costs...
SHARED PARKING COUNT
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SHARED PARKING COUNT
Land Use User
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NORTHPOINT |PARKING PARAMETERS
 North Point considered its own Parking District
 Shared parking utilized to reduce overa...
NORTHPOINT |PARKING PARAMETERS
 Flexibility within the NorthPoint District:
 Residential uses (min. of 0.5 spaces/unit, ...
MAPC sPARKing New Ideas Parking Symposium: Presentation by Doug Manz
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MAPC sPARKing New Ideas Parking Symposium: Presentation by Doug Manz

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MAPC sPARKing New Ideas Parking Symposium: Presentation by Doug Manz

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Transcript of "MAPC sPARKing New Ideas Parking Symposium: Presentation by Doug Manz"

  1. 1. NORTHPOINT | THE SITE
  2. 2. NORTHPOINT | OVERVIEW A B C D E F H KJ M L N I Q R V S T G U
  3. 3. NORTHPOINT |CHALLENGES OF URBAN PARKING  Parking doesn’t pay for itself (Challenging Returns & Underwriting)  High costs in urban markets ($50,000 - $100,000 per space)  In-efficient use of parking spaces (Sitting vacant at different times for different uses)  Permit Challenges  Above grade parking undesirable by neighborhoods and counts against FAR  Desire to Reduce Trip Generation by cities and towns  Market Challenges  Commercial Broker & Tenant Resistance to lower parking ratios  Limited precedent/examples of Shared Parking  Shared versus Reserved Parking  Result: Projects with too much Parking
  4. 4. SHARED PARKING COUNT 6:00 AM 7:00 AM 8:00 AM 9:00 AM 10:00 AM 11:00 AM 12:00 PM 1:00 PM 2:00 PM 3:00 PM 4:00 PM 5:00 PM 6:00 PM 7:00 PM 8:00 PM 9:00 PM 10:00 PM 11:00 PM 12:00 AM Office/R&D 3% 30% 75% 95% 100% 100% 90% 90% 100% 100% 90% 50% 25% 10% 7% 3% 1% 0% 0% Retail (Visitor) 1% 5% 15% 35% 65% 85% 95% 100% 95% 90% 90% 95% 95% 95% 80% 50% 30% 10% 0% Retail (Employee) 10% 15% 40% 75% 85% 95% 100% 100% 100% 100% 100% 95% 95% 95% 90% 75% 40% 15% 0% Supermarket 5% 10% 25% 50% 72% 85% 90% 89% 80% 84% 85% 90% 93% 90% 73% 50% 12% 3% 0% Residential (Shared) 100% 91% 84% 68% 60% 60% 60% 60% 61% 63% 64% 61% 71% 76% 83% 100% 100% 100% 100% Hotel (Guest) 95% 90% 80% 70% 60% 60% 55% 55% 60% 60% 65% 70% 75% 75% 80% 85% 95% 100% 100% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% ParkingDemand(%Occupied) Time of Day
  5. 5. SHARED PARKING COUNT Land Use User Group Unadjusted Demand Drive Factor Unshared Demand Monthly Adj. (Dec.) Peak Hour Adj. (10 AM) Non Captive Factor Shared Demand Office Emp. 3,012 40% 1,205 100% 100% 98% 1,181 Vis. 232 50% 116 100% 100% 100% 116 Lab R & D Emp. 1,499 40% 600 100% 100% 98% 588 Vis. 115 50% 58 100% 100% 100% 58 Anc. Retail Emp. 123 10% 12 100% 85% 100% 10 Vis. 508 10% 51 100% 65% 0% - Gen. Retail Emp. 53 10% 5 100% 85% 100% 4 Vis. 218 31% 67 100% 65% 50% 22 Supermarket Emp. 40 10% 4 95% 72% 100% 3 Vis. 160 50% 80 95% 72% 65% 36 Residential Shared 958 68% 652 100% 75% 100% 489 Reserved 1,278 100% 1,278 100% 100% 100% 1,278 Hotel Emp. 38 10% 4 100% 100% 100% 4 Vis. 150 30% 45 67% 60% 100% 18 Total Parking Space Demand 8,384 4,177 3,807
  6. 6. NORTHPOINT |PARKING PARAMETERS  North Point considered its own Parking District  Shared parking utilized to reduce overall parking count  Original NorthPoint approvals contained 4,980 spaces  New space count will be 3,800 – Reduction of 1,180 spaces  Update Zoning Ratios to be Consistent with other Cambridge Districts  Commercial .9 spaces per 1,000 SF  Lab .8 spaces per 1,000 SF  Residential .75 spaces per unit  Hotel .5 spaces per key  Retail .5 spaces per 1,000 SF  Major City Benefit of Capping Peak Hour Vehicular Trips
  7. 7. NORTHPOINT |PARKING PARAMETERS  Flexibility within the NorthPoint District:  Residential uses (min. of 0.5 spaces/unit, max. of 1.0 space/unit, avg. of 0.75 spaces/unit)  Ability for early parcels to build more parking (1.25 spaces per 1,000 SF)  Improved Tenant flexibility for parking supply (Less restrictions within District)  Improved parking efficiencies, revenue per space and parking returns (Market Driven)  Supporting Factors for Shared Parking Strategy  Mixed-Use Development Parcel (Ability to Share Parking)  NorthPoint has a detailed PTDM Plan (Joint City & Developer Effort)  Shifting Demographics Trends (Age Profile, Urban, Car Ownership %)  Two Subway Lines and the EZ Ride Shuttle  Alternate Modes (Hubway, Zipcar)  Shared Parking Challenges  Comfort level for Lenders & Investors (Leasing & Sale)  Comfort level for Brokers and Tenants (Perception vs. Reality)  Retail and public parking
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