Quote:
Originally Posted by ThomJames
I really don't think that there are many developers that are willing to skimp on parking. They would be taking a major risk. For most tenants/ purchasers, parking is the first question out of there mouths.
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You keep making these statements.
"a lot of people"
"most tenants"
I'm sorry, but do you have any FACTS to back up these meaningless terms?
As Brudy pointed out, in Manhattan the car ownership rate is under 20%. Most of us wouldnt say that's "a lot"
You also fail to understand the induced demand principal. You build a parking space and make someone pay for it as part of their rent, they might as well fill it with a car. You dont, and guess what, the people who move in wont bring cars with them.
Quote:
Originally Posted by ThomJames
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Most new high rises I have seen in NY have quite a bit of parking.
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Uh, [citation needed]
Also, not in Los Angeles, but in the East Coast I was part of a parking study in an urban area. We looked at garage utilization of 4 major garages for residential buildings.
None of them ever went past 50% utilization. We're talking 4,000 spaces, and yet 2,000 ALWAYS sat empty, even when local events drew more people than normal.
Oh, but that didnt stop the local hospital from starting construction on a new 600 stall garage.
Problem is, everybody is territorial. The condo building with the 300 spot garage and 50% utilization is not going to rent extra spots to the hospital, ever. It's "residents only", and those residents are paying for something they dont want or need.
And the hospital is not going to lease 500 spots that sit empty in the municipal garage because they want to have their own. It's because of stupid budgeting crap: they have a capital budget they can spend (Millions for a garage!) but they dont want to / can't take on a monthly rental expense which will save the money in the end because the budget isnt set up for that.
It's idiotic, and we as a country as pouring billions down the drain for this crap.
Quote:
Originally Posted by BOYCOTT 90210
The rendering is missing the balcony rails. Lol
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I think it's intentional. it's the dead-space parking podium