5.2. SR 09-17-2007 - Laserfiche WebLink

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Elk, ~tivcr Downtown Parking Study PARKING ADEQUACY Parking adequacy is the ability of the parking supply to satisfy the demand. Adequacy is calculated by subtracting the demand for spaces from the "effective" supply of spaces. Since changes to the supply of spaces are anticipated in the future, the projected "effective" supply is used to calculate the future adequacy. Table 6 shows the parking adequacy calculations. Currently, on the survey day, there is a surplus of about 284 parking spaces in the study area. The surplus of spaces is expected to reduce to about 168 spaces when the new developments are fully occupied. The residential units in the two new developments represent a significant change in the parking demand characteristics in Downtown Elk River. However, the peak demand generated by residential units typically occurs during the evening hours and on weekends. Residential parking demand and the demand generated by service and office land uses can often share a supply of parking spaces because of the differing peak demand periods. ~:_~:. The surplus of spaces will continue to be an asset to the businesses in Downtown Elk River. Many commercial districts do not have a surplus of spaces. The estimates of demand developed in this analysis use a model of current utilization of the parking system serving Downtown. When the new developments are fully occupied the current demand patterns and parking dynamics may change. It is hoped that development projects will be occupied with successful businesses and attract more customers to Downtown and promote longer visits. The mix of businesses in the older existing buildings may also evolve and change over time. It is difficult to quantify these unpredictable effects on Downtown Elk River and the resulting impact on the parking system. The inclusion of the effective supply factors is intended to help accommodate unknown changes to commercial activity in Downtown. September 2007 Carl Walker, Inc. 13