Res15 15448 - Laserfiche WebLink

Browse Search

__ _ , _ � 6.3.B. - Page 14 10/12/2015 TJKM � Transportacion � Consu6cants _ � ' Tenant Demand �1► i As employers increasingly locate in mixed-use districts and near transit stations,tenant demand for ; parking has decreased. Due to this reduced parking demand, developers are more able to receive financing for projects with lower parking ratios. ' In-Lieu Fee Amount Table 3, below, lists current developments in various stages of the approval process that have � requested payment of in-lieu parking fees. ' Table 3—Pending Requests for In-Lieu Parking Fee Payments ' # Development Site Land Use #of In-Lieu Current Status Spaces 1 2075 Broadway Avenue Office+Retail 84 Application complete ' Application incomplete, requires a ' 2 30 California Street Office 25 General Plan and DTPP amendment and EIR 3 601 Marshall Street Office 118 To City Council upon appeal ' Application incomplete, requires a ' 4 851 Main Street Office 48 General Plan and DTPP amendment and EIR ' TOTAL 275 In recent years,widespread construction of transit oriented developments, improved transit ' options, increased emphasis on bicycling and walking,telecommuting and live/work units may have resulted in actual parking demand that is lower than the code requirements for a new � "� development.This is supported by anecdotal input from developers and studies conducted by private employers and transportation management associations (TMAs). A 2015 survey of " downtown Palo Alto employees concluded that nearly 40 percent of employees used walking, i bicycling,transit or telecommuting. Half of the remaining 60 percent of employees who drove expressed interest in using transit if transit services improved.The survey also showed that only about half of the employees who drove parked in public or private parking facilities. � With worsenin con estion on Ba Area freewa s and im rovin non-auto modes of travel, it is �.r g g Y Y P g ��r likely that the parking demand will peak in the near future. Investing in pedestrian and bike facilities infrastructure and various transportation demand management ', (TDM)strategies are more attractive and ' =."�- more cost effective options than building � � �M�;�-� new parking facilities. , �"� 1�l` `�}�� 3:. �a� � I � � a j D � � ; � i,: � � � a ¢ ' 2075 Broadway Avenue— � , , � ' ° � � Proposed office & retail � � ��. development (proposed In-Lieu Fee �� Pa ment for 84 s aces Y p ) Redwood City In-Lieu Parking Fee Study Page � 7 9 RESO.#15448 MUFF#703