Quote:
Originally Posted by i-215
It won't happen if there is 1.2 spaces per unit. There needs to be 0.0-0.2 spaces per unit for it to be truly T.O.D. If parking is available, it will be used.
Problem is, it's chicken and the egg -- transit needs to be in place first, and what we have is woefully inadequate to require/allow 0.0-0.2 spaces per unit. And there's no way banks will lend on that.
On the flip side, banks will lend on 1.2-3.0 spaces per unit, no problem. But that's basically a suburban apartment complex stacked on top of itself. You could have the best transit in the world next door and people will still park and drive.
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Ha. Now I know why I was thinking of chickens and eggs. I also agree with this - TOD that features too much parking isn't true TOD, and won't benefit the city the way a true TOD would.
So, since much of the 'TOD' built in Utah seems to come with massive parking garages, I think it's worth discussing how economical it is to convert a parking garage into a more useful space.
https://www.wired.com/2016/11/time-think-living-old-parking-garages/
http://www.latimes.com/business/la-fi-car-future-real-estate-20170405-story.html
The idea goes like this:
1) A transit line with low utility is built - like the S Line with 1 car ever 20 minutes.
2) Developers are allowed to build bigger developments in the vicinity of the transit line; however, they build with the same ratio of parking the would elsewhere (or something close to it) because they and everyone else can plainly see the transit line is of low utility (aka, 'it 🞵🞵🞵🞵🞵').
3) The developments along the transit line fill the low-utility transit line to its very low capacity; this brings on calls for transit utility to increase by lengthening trains and increasing frequency. The improvements are made, and the transit line achieves at least moderate utility.
4) An increased capacity of the transit line increases property values along its corridor. Rent prices rise. Demand for housing along the corridor also increases. Developers look to find a way to increase the number of units they have on-site, so they do the one thing at their disposal: They take parking spaces in their garages, and turn them into apartments too. Or turn them into luxury features (gyms, pools, lounges, whatever) to justify the high rent prices. They are allowed to get rid of parking spaces like this because the transit line actually works (aka, 'it doesn't 🞵🞵🞵🞵 anymore') and most of the people in the developments can depend on it.
(There is also the scenario I predict in which ride-sharing and autonomous vehicles also decrease the need for parking spaces)
And then, this virtuous cycle increases. More ridership spur more improvements which spur more development which spur more ridership. Of course, this only works when the transit agency is given the means for improvements, which is far from certain.
(I think UTA ought to receive its funding based on a metric of ridership, not just whatever is made in sales taxes. Like, if UTA got $X per rider, $Y per passenger mile, and $Z for every ADA rider, UTA would be much more rider-oriented, rather than development-oriented.)
OK, that's too many different ideas or one post. My question is this:
Do the new modern parking garages being built as part of the TODs in Salt Lake have the capacity to be converted into anything other than parking garages? Because if they do, I don't mind them so much. If they don't, then...