Executive Feedback
How are you accommodating parking needs in your projects?
A: “We provide parking for all units; however, we price parking separately. This allows people to customize their purchase to fit their lifestyle. Why pay for two spaces if you only need one? Or you can buy three. Urban buyers value choices like these.” –Greg Vilkin, president, Forest City Residential West and Forest City Stapleton
A: “In new condo construction, we strive for a minimum of 1.5 parking spaces per unit. We allow for the larger, more expensive units to have up to two parking spaces if desired. In adaptive re-use and condo conversions, we may dedicate the lower level of the building into parking if the column grids and access will allow for it. … A final strategy is to secure rental parking in buildings near by. We pre-pay it for two years on behalf of each condo buyer.” –Jim Abdo, president and CEO, Abdo Development
A: “Parking is the driving force that determines density and product type today. … [S]tructured parking can solve a major constraint. We’ve successfully included below-grade and on-grade structures in Trio in Pasadena and City Lights in Orange County [respectively]. Trio involved the adaptive reuse of L.A.’s first parking structure, built in 1929.” –Don Gause, senior vice president, Shea Properties