PRESENTATION
Current parking situation and challenges at 197 Berry Street
1:23:39
·
127 sec
The presentation highlights the current parking situation and the challenges faced by the existing garage. Despite having 142 spaces, the garage is severely underutilized and operates at a loss.
- Garage details: Attended garage with car elevators, 28,000 gross square feet
- Utilization: Only about 80 out of 142 spaces used on average, with inflated numbers due to below-market rates
- Challenges: Residents dislike using the garage due to delays in retrieving cars, and the Open Streets program may further reduce demand
Adam Taubman
1:23:39
If you can go to the next slide, please we'll see some close-up images of that entrance.
1:23:46
Park Garage's access from Barry Street, as I said, and located primarily leap below grade on the 2nd sub seller level.
1:23:52
It is an attended garage.
1:23:54
Cars are dropped off with an attended in an approximately 80 by twenty six foot entrance area shown here.
1:24:01
The rear of the entry area contains 2 car elevators that attendants use to bring cars down to and up from the sub seller parking level.
1:24:09
The garage contains a total of 28,000 gross square feet, 2000 of which comprise this entrance area, and the remaining 26 1000 of which are located on the below grade parking level.
1:24:20
Next slide, please.
1:24:23
These are images of the below grade parking area.
1:24:25
You can see the 2 car elevator doors in the upper left image.
1:24:31
Really, the story that these images tell us that the car garage is severely underutilized today.
1:24:36
When we started this process a couple years ago, on average, only approximately 80 of the 142 Park spaces were utilized at any given time.
1:24:45
That number has gone down as we've worked our way through this application process, and it's actually an inflated number and that the garage charges rates that are well below market rates in the surrounding area.
1:24:56
Those below market rates inflate utilization of the parking garage and even with those lower rates, and the high utilization the garage still operates at a loss.
1:25:07
So we've identified a few reasons for this.
1:25:09
First, the zoning regulations that are in effect today do not reflect the observation that the city has recently made in other contexts, which is that development sites in transit rich areas do not require as much parking as other areas.
1:25:23
But there are also a few factors specific to this location.
1:25:26
Chief among those, is that residents in the building have told Avi on a number of occasions that they don't like to use the garage because the operation of those car elevators results in significant delays in retrieving cars.
1:25:38
And further, we believe that the implementation of the Open Streets program will only further reduce demand for the parking garage.
1:25:46
Next slide, please.
