• Abstract and Figures
• Public Full-text

Anup Nitin Patel, PMP August 14, 2020 Senior Project Manager Venice Community Housing, (VCH) 200 Lincoln Los Angeles, CA 90291 Dear Mr. Patel, It is with great enthusiasm that we herein submit our qualifications as a Parking Partner for the Reese Davidson Community (RDC) parking component development. Our firm is grounded on doing what is right for the environment & community, and we would be delighted to be involved in this exciting project. Founded in 2003, today Parking Design Group, LLP can offer what no other proposer can on this P3 or any other parking project in the country. A unit of Parking Design Group LLP, Park Green ® LLC equips parking asset owners to make their facilities able to generate significantly more revenue, as well as safer and sustainable. By partnering with our team, the City can license a Park Green ® management system for the RDC facility, and benefit enormously from the patented real-time parking management solution, our leading-edge of pedestrian safety devices and premises liability expertise and over 100 years of combined in-house parking planning, design and mobility consulting experience on over 3,000 domestic and international projects. While the RDC project is absolutely unique in its mission and needs, our experience advising AECOM Capital on the Ivy Station project in Culver City and Sunset West Hollywood in West Hollywood, CA seems most specifically relevant in scope. Although these were larger projects, at Ivy Station, we were able to help the client re-envision the parking plan the subterranean garage, realign ramping and vertical circulation elements, develop an appropriate PARCS and operational approach for the facility, and integrate additional amenities that enhanced the overall experience for office, retail, hotel, and residential user groups. On the Sunset West Hollywood project, we similarly refined ramping solutions and maximized parking efficiency in a limited footprint while adhering to local parking design ordinances. If selected, the Parking Design Group team will collaborate with the co-developers to deliver the country’s first truly sustainable parking concession agreement and parking facility. The facility will generate a significant upside revenue stream and also equip the City to measure and respond to demand on a daily basis. Our team can then partner with the City to leverage meaningful percentages of this up-side revenue back into the community as part of a comprehensive corporate philanthropic model and convey that approach to Venice Beach and Reese Davidson Community residents and parking consumers on a daily basis. Respectfully, Warren C. Vander Helm - Partner Parking Design Group LLP 712-722-1586 Direct A. Executive summary Over the last five years or so, being inspired by Donald Shoup, Phd. and others, we’ve been fortunate to be able to patent and bring to the domestic marketplace the intellectual property key to the complete transformation of the commercial parking industry, on a global scale. That key is selling parking spaces like seats on a commercial airline. Parking Design Group (PDG) partners began in 1982 as consultants to the nations largest parking operator and then subsequently operated fifty-five parking facilities in the Dallas market as Vice President of Operations for that same firm as well as Director of Design on a national level. Subsequently in 2003, under the Parking Design Group LLP moniker, the partners oversaw and directed the design of over 3,000 parking facilities globally in all market types, the vast majority in California. We have also recently advised the residential developer Greystar with three “Texas wrap” projects in the State. Parking Design Group LLP has evolved into an industry think tank and a firm recognized as specialists and experts in the field, specifically offering expert testimony in premises liability associated with parking facilities, as well as other areas of the commercial parking practice. We have additionally gained a thorough understanding of the planning, design and construction of the appropriate self-park, robotic or hybrid solution for a given property by conceptualizing competent solutions on a daily basis for many years. Each site is unique and the agility and expertise of the consultants guiding the planning and conceptualizing process can reap big dividends for municipalities, owners and all stakeholders. Ready in 2020, we can now equip the City with a RDC parking facility that will allow customers to purchase their space or tier upon entry to the facility and then be guided to their pre-determined Park Green ® space. Tracking daily patron choices will aid the City, its planners and policymakers in setting future maximum parking requirements based on timely, actionable data. Charging market rates for individually managed spaces will allow the City to do more with less spaces at the RDC facility by leveraging the best performing spaces in real-time. Most importantly, the City can now realize significant upside revenue streams to reinvest in the community. 3 B. Problem Statement & Management Summary Density The most obvious major issue given this project site is providing enough density within the proposed parking envelope while observing height and depth of construction limitations. We understand that a 35 ft vertical height limit applies in this instance along with depth limits associated with close proximity to the coast. For our team, a major issue in many projects is encouraging the owner to right-size the facility to the benefit of the environment and community. In this instance, all stakeholders can move ahead confidently since the parking capacity target of 220 spaces is a replacement number only, and that number also happens to be approximately the maximum parking capacity the garage envelope can feasibly accommodate, as our concept drawings will demonstrate. We have already engaged in a thorough conceptual design process where we carefully study any and all reasonable potential options for this site. We have determined that the only financially feasible approach given the available building envelope is to construct a 3-level, flat-floor parking facility that includes vehicle lift systems on both the ground level and roof level. This design yields 209 parking spaces with (49) of those being lift spaces. One way the capacity can be expanded to 220 spaces is by adding 11 more lifts to the roof level. Obviously, we’ll fully vet this approach in concert with EOM Architects and the development team if selected. (see appendix) Financial feasibility We have already engaged in our own financial feasibility study for this location, to estimate revenue, expenses and financial performance. Within the study structure we considered specifics like current and future demand estimates; turnover and occupancy considerations; historical and current rates for public and private parking; proposed parking rates, use estimates and projected revenues; estimates on operating and maintenance expenses and limiting assumptions. We can then work to ensure financial feasibility by developing a competent operating proforma including debt service payments for any option being considered. In most instances this step in the process will 4 clearly illustrate the most financially feasible approach. Again, we have already engaged in development of operating proforma illustrating how a 220-space self-park facility with lifts and attendants on this site can be managed with each one of the valuable spaces as an individual profit center, to enable a fair and equitable demand-driven rate structure. Our operating pro forma and revenue projections are as follows and illustrate the first five years and final 2 years of the 30-year proposed lease term: 5 Revenue & Expense Assumptions 1. Beach and Venice retail parkers will be the primary user group. 2. Building occupancy is shown as 100% to be conservative and fair to both Park Green ® and traditional revenue projections. 3. The average ticket/transaction of $12.83 as shown in the revenue-expense projection combines the three Park Green ® tiers as a demand-driven, “snap-shot-in-time” with regard to price of the tier and number of spaces in the tier, both which will fluctuate from day to day. 4. Our selection as Parking Partner will mean that the residents living on-site will have the opportunity to be employed in the facility as a manager, parking ambassador or attendant. It is our intent to operate the facility without engaging a traditional parking “operator” for staffing and accounting functions but rather to train and employ those individuals from the on-site resident group who seek employment with fair and equitable compensation and benefits. An allocation for 4 fulltime individuals is included in the projection. 5. The Park Green ® licensing fee equates to $2,700 per space one-time fee paid during years 1-3 and then an 4% annual royalty calculated on gross receipts in perpetuity. 6. Undedicated revenue in bottom line A will be transferred to the owner just as in any subsequent Park Green ® deal or concession agreement. This is a significant revenue stream that we will be encouraging the City/LADOT to invest a considerable share of back into the Reese Davidson and Venice community over the 30-year term, in a philanthropic manner. 7. Alternate net revenue is shown in bottom line B and assumes only traditional one price fits all parking revenues are achieved and that there would be no Park Green ® license fee or royalty. 6 Important steps All can agree that financially self-supporting parking facilities are a rarity in this country, but no one in the industry has ever revealed the fundamental problem. Ever since the 1950’s commercial parking facilities began operating in the US, the management approach required patrons to search for a space in a facility where just one price, or level of utility was offered. Virtually every other business model offered price- point choices to consumers of nearly all other goods and services.

Load more

  25

Copy Link