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El-~'~ <br />l~ivcr <br />Downtown Parking Study <br />SUPPORTING ADDITIONAL DEVELOPMENT <br />Clearly the existing parking system has an adequate number of spaces to <br />support the existing businesses and the anticipated demand generated by <br />residents and businesses in the new developments. The calculations of future <br />adequacy indicate that a surplus of spaces will exist even after the new <br />developments are fully occupied. The calculations of existing and future <br />adequacy include the publicly controlled parking and the privately controlled <br />spaces in the study area. To assess the amount of additional development that <br />could be accommodated with the anticipated surplus it is necessary to consider <br />only the publicly controlled spaces. The privately owned spaces may not be <br />available to help satisfy demand. <br />Table 7 presents an estimate of the amount of future development that could be <br />accommodated with the anticipated surplus of spaces in the publicly controlled <br />areas. This estimate includes the spaces in the municipal lots located north of <br />Highway 10. The estimate also conservatively uses a parking demand ratio of <br />4.00 spaces per 1,000 S.F. of development. The existing parking demand model <br />ratios range from 2.00 to 3.50 spaces per 1,000 S.F. Using the entire municipal <br />parking supply, the surplus could accommodate approximately 15,700 S.F. of <br />development. <br />Table 7 <br />Parking Available for Future Development <br />Including Lots North of Highway 10 <br />Municipal Lots -Approximate Existing Vacancy -Observed <br />King Avenue Lot 73 <br />South of RR Tracks 27 <br />North of RR Tracks 14 <br />On-Street Spaces 60 <br />Subtotal -Available Spaces 174 <br />Bluffs and Jackson Place <br />Estimated "Public" Demand 104 <br />(Commercial and Residential Visitors) <br />Remaining Spaces Available 70 <br />Effective Supply Factor 90% <br />Effective Spaces Available 63 <br />Assumed Demand Ratio 4.00 ! 1,000 S. F. of Development <br />Anticipated Surplus Supports Approximately 15,700 S.F. Additional Development <br />September 2007 <br />Carl Walker, Inc. <br />15 <br />