Laserfiche WebLink
6.3.B. - Page 14 <br /> TJKM <br /> Transportation <br /> Consultants <br /> ell r Tenant Demand <br /> As employers increasingly locate in mixed-use districts and near transit stations,tenant demand for <br /> parking has decreased. Due to this reduced parking demand, developers are more able to receive <br /> I financing for projects with lower parking ratios. <br /> In-Lieu Fee Amount <br /> Table 3, below, lists current developments in various stages of the approval process that have <br /> requested payment of in-lieu parking fees. <br /> Table 3—Pending Requests for In-Lieu Parking Fee Payments <br /> # Development Site Land Use #of In-Lieu Current Status <br /> Spaces <br /> 1 2075 Broadway Avenue Office+ Retail 84 Application complete <br /> WiiliZil Application incomplete, requires a <br /> 2 30 California Street Office 25 General Plan and DTPP <br /> amendment and EIR <br /> 3 601 Marshall Street Office 118 To City Council upon appeal <br /> Application incomplete, requires a <br /> 4 851 Main Street Office 48 General Plan and DTPP <br /> iikilm amendment and EIR <br /> TOTAL 275 <br /> In recent years, widespread construction of transit oriented developments, improved transit <br /> options, increased emphasis on bicycling and walking, telecommuting and live/work units may have <br /> resulted in actual parking demand that is lower than the code requirements for a new <br /> development.This is supported by anecdotal input from developers and studies conducted by <br /> private employers and transportation management associations (TMAs). A 2015 survey of <br /> downtown Palo Alto employees concluded that nearly 40 percent of employees used walking, <br /> bicycling, transit or telecommuting. Half of the remaining 60 percent of employees who drove <br /> expressed interest in using transit if transit services improved.The survey also showed that only <br /> about half of the employees who drove parked in public or private parking facilities. <br /> P With worsening congestion on Bay Area freeways and improving non-auto modes of travel, it is <br /> likely that the parking demand will peak in the near future. Investing in pedestrian and bike <br /> facilities infrastructure and various <br /> transportation demand management <br /> (TDM) strategies are more attractive and <br /> „ — -� more cost effective options than building <br /> new parking facilities. <br /> p)., 1EhI <br /> l!° • .' it 7 2075 Broadway Avenue— <br /> ,` Proposed office & retail <br /> . `' 1i I development <br /> r '1 J .. III 11 II Till1 .. .� ,. ,u .I" + J <br /> '_,, (proposed In-Lieu Fee <br /> Payment for 84 spaces) <br /> i; <br /> Redwood City In-Lieu Parking Fee Study Page 17 <br />