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�'.� /� <br /> non-downtown settings (or if they are in downtowns but have "keep out" signs in their parking <br /> lots) then they each need a parking lot which has at least 500 spaces, which creates a total of <br /> 1,400 parking spaces between them. But, if they are located in a downtown environment and <br /> they agree to share parking, then they may only need 500 spaces for both buildings, or only 250 <br /> each! This is because of their differing periods of activity. During the day when the office <br /> building is bustling with activity, the theater is closed and empty. At night, all of the office <br /> workers go home and the theater doesn't get busy until and hour or two later. Assuming a cost of <br /> $20,000 per parking space, this represents a savings of $10 million! <br /> This applies at the district level, too. To illustrate this, we will devise a hypothetical downtown. <br /> This downtown has 1 million square feet of office space, 545,500 square feet of retail space, <br /> 150,000 square feet of restaurants, theaters with a total of 10,000 seats, and hotels with a total of <br /> 3,000 rooms. This means that at their peak, of these land use categories needs 3,OQQ s�aces. <br /> The chart below, based on mixed-use parking standards developed by the Urban Land Institute, <br /> demonstrates the efficiencies of shared parking in our hypothetical downtown. The thin lines <br /> show the parking needs of different uses throughout the day and week. The thick red line <br /> represents the total number of parking spaces occupied at any given time. The thick blue line <br /> represents the maximum number of stalls ever needed by each use, combi�led. In a suburban <br /> setting, the blue line would be the number of stalls necessary, due to a lack of shared parking, <br /> wallcability, and density. However, due the efficiencies of a downtown, the actual number of <br /> spaces occupied at any given time (red) never cames close to the theoretical need (blue). <br /> The "Shared Parking" Efficiencies of Downtowns <br /> � s.000 <br /> 14,000 <br /> y 12,000 <br /> .? <br /> U <br /> O ��,�Q� � t��CB <br /> � .� �—Retall <br /> o = <br /> a z:- Restaurant <br /> � �-- Errtertainment <br /> � 8,000 <br /> —*— Hotel <br /> R '�� � � ' tTotal Dpwntown Demand <br /> a - ' ��Combined Peaks <br /> � 6,000 <br /> � <br /> � <br /> Z 4,000 <br /> 'C'�. <br /> 2,000 � <br /> - ¢ � <br /> - ""�� t` <br /> 0 0�o $ o 0 0 0 0 0��� o o�o 0 0 0 0��0 0�0� �o 0 0 0�o m�$ o�o 0 0 0�0 �o 0 <br /> 000 000000g000Q0000000000000 op0000goo <br /> tOAG0�0 �� ^�^� �� �NN NNOfD I�C001 O Nf7 ��t0 ���N NN N� <br /> W eekdays Saturday <br /> pa�e S <br />