It’s a double parking whammy as underutilized downtown surface area parking lots are replaced by new housing developments with more people than parking spaces.
“Parking demand in San Francisco is rising daily,” [City Park CEO Tim Leonoudakis] said. “The ‘Manhattanization’ of downtown parking will be complete with the opening of the residential towers in South of Market, which are all ‘under parked.'”
Legislation passed last summer limits parking at new residential projects in the city’s downtown to one space per every four units — though developers can secure up to three spots for every four units under certain conditions.
Leonoudakis said most tenants need more than one space and that demand is not being satisfied on site. Tenants, he said, will overflow into the surrounding neighborhood and “that’s going to impact commuter parking.”
“There’s a dynamic under way that we should all be paying attention to,” he said.
The issue has already gotten attention, in part due to a controversial measure to increase parking allotments all over the city that is likely to appear on the ballot in November.
The measure would boost the number of allowed spaces at new multi-unit residential projects downtown from a maximum to a minimum of three slots for every four units, according to Jim Ross, a political consultant who’s running the campaign for the initiative. It would also increase parking to a minimum of one space for each new residential unit built outside of downtown, and “allows for but doesn’t require” minimum numbers of spaces for new retail and other commercial projects, Ross said.”
And regardless of your position on this issue, there’s likely one thing on which we can all agree: the cost/value of parking in the city is going up. Now about those $225,000 parking spaces in Manhattan…
∙ S.F. parking in tight spot [Business Times]
∙ For Parking Space, the Price Is Right at $225,000 [New York Times]