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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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MAPC sPARKing New Ideas Parking Symposium: Presentation by Doug Manz

MAPC sPARKing New Ideas Parking Symposium: Presentation by Doug Manz


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  • 1. NORTHPOINT | THE SITE
  • 2. NORTHPOINT | OVERVIEW A B C D E F H KJ M L N I Q R V S T G U
  • 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. 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. 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. 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. 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