Please don’t forget to register for this event next week. If you would like to see a less auto-centric Miami, we need to have a sober discussion about the effects of minimum parking requirements on the development of our city.
Here’s an article about a condo in downtown that will be built without parking. You can also read my interview with developer Harvey Hernandez about Centro.
A 3 bedroom, 4.5 bath condo at the Apogee South Beach has sold for $12.4 Million, the second most expensive sale in the building. The 4,154 square foot unit fetched nearly $3,000 per square foot. The listing agent, Carlo Gambino, Executive Vice President at Douglas Elliman, was also behind the priciest sale in the building – a penthouse unit which sold for $16.5 Million in 2008.
The unit was recently renovated by famed architect/designer Peter Hawrylewicz of PH Design Group and includes polished concrete flooring that extends into the outside wraparound terrace. The walls are designed with raked granite, cherry wood, and hand-trowled plaster.
This pad also comes with some high-tech touches including a keyless fingerprint door entry, private air-conditioned two-car garage, and private elevator. The space also enjoys an intricately crafted self-adjusting light and shade system, and surround sound.
This unit traded for $7,000,000 in 2008.
Looks pretty slick… You can see the listing over at StreetEasy.
There are currently 2 units for sale and 1 for rent at Apogee.
Notice Florida: Perpetual Real Estate Boom/Bust
Miami’s excessively high minimum parking requirements can prevent a great project from moving forward. A developer may have a brilliant idea for a site, but if he or she cannot accommodate parking within the footprint of the site the project will likely not break ground. The sad truth is that parking dictates development in Miami and minimum parking requirements have a significant negative impact on the development of our city.
Livable Places gives a great summary of the problems created with minimum parking requirements. Below you will also find some of their suggested “Smart” solutions for dealing with parking.
Creates excess parking
Minimum parking requirements are usually set arbitrarily by city planners from standardized transportation planning manuals, which typically measure parking and trip generation rates in suburban areas at peak periods with ample free parking and no public transit. These parking standards can cause an oversupply of parking – taking up valuable land and lowering the price of parking below cost.
Promotes automobile use
Providing plentiful and free parking encourages automobile use and discourages walking, cycling and transit use. Donald Shoup, a professor of urban planning at UCLA recognized as a leading scholar on parking issues, compares minimum parking requirements that mandate excessive off-street parking to “fertility drugs for cars.” By generating more car trips, inefficient parking requirements contribute to increased air pollution and reduced physical activity.
Increases the cost of development
Requiring developers to provide large amounts of off-street parking significantly adds to the cost of new development, especially in urban areas where land costs are high. These costs are typically passed to consumers, through higher housing prices and rents.
| Average development cost of parking (excluding land) | |
|
Type of parking facility |
Cost/space |
| Surface lot | $2,000 |
| Multi-level above ground | $10,000 |
| Subterranean | $20,000 |
Reduce minimum parking standards
Urban planners need to re-examine parking demand in urban areas where land and parking costs are higher, and transportation alternatives exist. Reducing minimum parking requirements will help to create more livable communities by reducing the abundant supply of free parking and encouraging transit use.
Establish maximum parking requirements near major transit stops
In areas well served by transit, planners should consider the use of maximum parking requirements to limit the amount of off-street parking built. These requirements prevent auto-oriented uses from occupying land near rail and bus stations, and encourage the creation of transit-oriented districts, or transit villages.
Unbundle the cost of parking in residential projects
Typically, the cost of parking is included in the home price or rent of a condominium or apartment. Unbundling the cost of parking from housing costs allows off-street parking to be priced in response to the actual demand for parking, and lets consumers pay the cost of their transportation choices.
Shared parking
Shared parking is an effective tool for reducing the number of parking spaces needed for a project or neighborhood. Shared parking strategies can be implemented within a new mixed-use development, through simple agreements between adjacent, or through a parking management district. Parking districts can also encourage pedestrian activity by encouraging people to park once and walk from destination to destination.
Car Sharing
Car sharing programs allow many individuals to share access to a vehicle. Located within a housing development, car sharing can lower the average household vehicle ownership rate, reducing the demand for parking. Several car sharing companies are starting to partner with housing developers to include car sharing programs within their new developments.
Thankfully ULI will host an event on July 19th to discuss this very important issue that affects all of us and the future development of our city. Please forward this event notice to your city commissioners and your developer friends. It’s really important that they attend this event. Click here to signup.