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Jeremy Ogulnick
<br />May 5, 2020
<br />Page 12
<br />Road. The adjoining land uses to Apex Laguna Niguel consist of mostly residential
<br />uses, with commercial uses to the east.
<br />Based on the above descriptions of six existing sites, locational and parking -related
<br />characteristics are similar and comparable to the Project (i.e., not located in a
<br />TOD/Transit-Oriented Development, with no off -site parking nearby, which can
<br />reduce on -site parking needs), with their empirical parking demand ratios considered
<br />to be indicative of the Project's potential parking needs. The Project will be
<br />providing a supply of 2,200 spaces, which, when divided by 1,100 dwelling units,
<br />corresponds to a parking supply ratio of 2.0 spaces per dwelling unit, inclusive of 212
<br />"car lift" spaces. This supply ratio is greater than the empirical ratios from the six
<br />comparable sites most similar to the Project and helps validate adequacy of parking
<br />for the Project.
<br />Residential Component Parking Supply
<br />Based on review of Table 1, parking for the residential component of the Project will
<br />be primarily provided via structured parking, plus two (2) surface stalls. As shown, a
<br />total of 1,870 "is' access" spaces will be provided, which will be supplemented by an
<br />additional 118 "2' access (tandem)" spaces provided within the Project's parking
<br />structures, and 212 "car lift" spaces for a total supply of 2,200 stalls (1,868 + 2 + 118
<br />+ 212 = 2,200). The Project's proposed residential parking supply of 2,200 spaces
<br />allows for the provisions one parking space per bedroom, which total 1,413
<br />bedrooms, with a remaining balance of 787 spaces that could be used to
<br />accommodate residential guest parking demand and/or additional parking demand of
<br />future residents.
<br />Project Residential Parking Supply versus Demand
<br />The bottom portion of Table 5 estimates the project's parking needs based on the
<br />application of the average, 85' percentile, and 95' percentile parking rates from
<br />comparable sites. For the 1,100 units as now proposed, it is estimated that the
<br />average demand would be 1,518 spaces, the 85' percentile demand would be 1,628
<br />spaces, and the 95't' percentile demand would be 1,771 spaces. Comparing the 95'
<br />percentile demand of 1,771 spaces against the proposed supply of 2,200 spaces yields
<br />a surplus of 429 spaces. Given these results, we conclude that the proposed residential
<br />parking supply of 2,200 spaces is more than adequate and will satisfy the Project's
<br />residential parking demands.
<br />To maintain adequate parking supply at all times, it is recommended that a Parking
<br />Management Plan (PMP) be implemented to ensure parking is available for all users,
<br />inclusive of determining, based on the actual needs of the Project, and when the use
<br />of "car lifts" would be necessary in the future.
<br />NMOU2204214-The How,, 5.iiila AnalRepon\A214 The Bueer, Revised P,750-69
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