CITY OF OMAHA OMAHA, NEBRASKA
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1 DOWNTOWN PARKING NEEDS ASSESSMENT UPDATE CITY OF OMAHA OMAHA, NEBRASKA Prepared for: City of Omaha Parking Division October 15, 2014 FINAL REPORT
2 TABLE OF CONTENTS EXECUTIVE SUMMARY... 1 Study Purpose... 1 Conclusions... 1 Current Conditions... 1 Future Conditions... 2 INTRODUCTION... 3 Project Scope... 3 Description of Study Area... 4 EXISTING CONDITIONS... 5 Parking Inventory... 6 Parking Occupancy... 7 Effective Supply Current Parking Adequacy Old Market On-Street Parking Summary of Current Parking Conditions FUTURE CONDITIONS Plan Future Parking Demand Calculations Projected Future Parking Adequacy New Office Tower Exhibit 1: Downtown Study Area... 4 Exhibit 2: Historical Unemployment Rates... 5 Exhibit 3: Study Area Parking Supply by Location and Type Exhibit 4: Parking Inventory... 6 Exhibit 5: Weekday Parking Occupancy... 7 Exhibit 6: Evening Parking Occupancy... 7 Exhibit 7: Daytime Occupancy... 8 Exhibit 8: Evening Occupancy... 9 Exhibit 9: Current Parking Occupancy by Study Area Zone Exhibit 10: Effective Parking Supply Summary Exhibit 11: Current Parking Effective Supply by Zone Exhibit 12: Weekday Daytime Current Parking Adequacy by Zone Exhibit 13: Weekday Evening Current Parking Adequacy by Zone Exhibit 14: Old Market Average Length of Stay for On-Street Parking Exhibit 15: Potential Future Developments within the Study Area 2030 Plan Exhibit 16: Projected Weekday and Evening Parking Adequacy Exhibit 17: Projected Weekday Day Parking Demand Exhibit 18: Projected Weekday Evening Parking Demand Exhibit 19: Potential Development Sites 350,000 Sq. Ft. Office Tower... 20
3 EXECUTIVE SUMMARY Walker Parking Consultants was retained by the City of Omaha in 2014 to prepare a Downtown Parking Needs Assessment. In 2011, Walker was engaged by the City of Omaha Metropolitan Area Planning Agency to develop a comprehensive parking management plan for downtown Omaha. Since that time, several changes have materialized within the area studied that may have impacted parking conditions. The objective of this analysis is to provide an independent evaluation of the downtown parking conditions and provide future parking adequacy projections that help the Parking Department improve public access and support economic development initiatives in downtown Omaha. The information presented in this report is intended to help inform the City and Parking Department and help guide future parking planning decisions in downtown Omaha. STUDY PURPOSE The purpose of this study is to update the previous parking inventory and occupancy data collected and the supply/demand analysis, including current and projected future parking adequacy. The results of the analysis provide a quantitative base from which the City of Omaha Parking Department can make informed decisions on strategic objectives that improve the delivery of public parking services. CONCLUSIONS CURRENT CONDITIONS A total of 41,063± parking spaces are located in the 136-block study area. Of the total inventory, approximately 36,147± or 88 percent are located off-street and 4,916± or 12 percent are onstreet. Approximately 21,302± spaces or about 52 percent of the total supply is designated for private use, while the remaining 19,761± spaces or 48 percent are open to the general public. The purpose for evaluating the current parking inventory and occupancy during peak weekday and evening conditions is to determine whether or not the parking supply is adequate to serve the needs of the downtown community. Although localized parking challenges exist within the study area, there are opportunities to improve the current parking conditions and maximize use of underutilized parking resources through improved shared parking practices. Approximately 56 percent of the total parking supply is utilized during typical peak weekday conditions and 45 percent during typical peak weekday evening conditions. This translates to 18,025± unoccupied parking spaces during the weekday and 22,403± during the weekday evening. There are locations in the study area that exhibit higher demand patterns than other areas. The corporate tenants located in the Central Business District have a need for employee parking during the weekday. The demand for employee parking is serviced by a combination of public and private parking facilities. The demand patterns in the downtown study area indicate that significant amounts of unoccupied parking supply are located within two to four blocks from the core Central Business District. The challenge is not a shortage of supply, but rather the location of supply. The City should explore opportunities to increase access to the unoccupied parking supply. 1
4 FUTURE CONDITIONS Walker evaluated two future development scenarios that focused on the 2030 Plan and a proposed new office tower development. The 2030 Plan analysis incorporated land use planning information from the City of Omaha 2030 Plan. At full build-out, there is a projected deficit of parking in the CBD, but an overall surplus of parking in the study area. The office tower evaluation focuses on the development of a new office tower with a maximum development capacity of 350,000 square feet. Specific project sites were considered to assess the potential impact on the parking market and need for additional supply. Peak weekday parking demand generated by the office tower is projected at 1,120± spaces. Sites could accommodate 1,080 to 1,400 structured parking spaces. If an office tower is built at any of the locations, new on-site parking would likely be built to serve on-site tenants and visitors. Public parking would accommodate any overflow parking needs. Similar to the projected impact of the 2030 Plan, the parking demand generated by a new 350,000 sq. ft. office tower would increase the occupancy levels of surrounding public parking facilities. However, new on-site parking built to serve an office tower could meet most, if not all of the office parking needs. DEMAND MANAGEMENT OPPORTUNITIES Increase use of underutilized public and private parking assets by employing a community shared parking program. A shared Parking program will allow private owners to market and lease unused excess supply and generate additional local revenue. Value-price public parking facilities based on demand levels and location. Implement a price management strategy that improves access to destinations and parking choices. 2
5 INTRODUCTION One of Downtown Omaha s defining characteristics is its focus on being a place where the community comes together to live, work and play. Within this vibrant economic environment, the public parking assets are a critical component of a larger network of mobility and accessibility options made available to the public. The recently formed City of Omaha Parking Department provides public access to over 4,600 parking spaces through five parking structures, seven parking lots and more than 4,900 on-street parking spaces. Maintaining this public infrastructure is important to the continued success of the downtown community. The Parking Department intends to continue delivering parking services by ensuring that it operates in an efficient and financially sustainable manner with an emphasis on maximizing the use of existing resources. To this end, the Parking Department is working to improve access to downtown destinations, increase the use of underutilized public parking facilities, and continually pursue ways to improve the overall delivery of parking services. PROJECT PURPOSE The purpose of this analysis is to quantify downtown Omaha s current and future parking needs. The objective is to provide an independent evaluation of the downtown parking conditions and provide information that helps the Parking Department improve public access to downtown Omaha. As the City and Parking Department plan for further downtown economic growth and increasing demand for public parking, this study intends to address the following questions: 1. What is the current parking adequacy in downtown Omaha? 2. What is the future parking adequacy in downtown Omaha? PROJECT SCOPE The project scope includes the following key tasks. DATA COLLECTION Obtain from the City master and development plans of significant projects located within the Study Area, downtown employment data, and downtown residential data. ANALYSIS Model parking demand with the Study Area including the impacts of proposed developments identified in the Master Plan or specifically identified by the City. Update inventory of on-street and off-street parking spaces in the Study Area. Analyze the existing and future parking demand and break down into study area zones, taking into consideration current parking counts, existing land uses, and proposed developments. Perform a parking space occupancy count survey for all public and private parking faculties located with the Study Area during weekday business hours and Friday evening hours. Quantify parking adequacy in each zone and on a block-by-block basis under existing and future conditions, including a five- to ten-year planning horizon. 3
6 DESCRIPTION OF STUDY AREA The study area is defined for the purpose of this analysis as the geographical area generally bound by Cummings Street to the north, Leavenworth Street to the south, the Missouri River to the east, and 24 th Street to the west. The geographical area defined as the study area represents two market components; one from which the majority of existing and potential parking patrons will be drawn, and another in which the primary parking resources are located. The 136-block study area is not uniform in size or shape, nor does it extend equally in all directions. Rather, the study area generally encompasses the central business district of downtown Omaha and is organized into fourteen (14) subareas or market zones. A map of the study area is presented in the following exhibit. Exhibit 1: Downtown Study Area 4
7 EXISTING CONDITIONS This section of the report identifies the current parking characteristics within the study area. The information contained herein serves as the basis for analysis of the existing and future parking needs. Included is a discussion of market indices, current parking supply, effective supply, parking demand, and parking adequacy. Key indices commonly used to evaluate the current parking conditions in a local market area include the unemployment rate, office building vacancy rates, parking facility peak occupancy rates, and public parking policies. Trends in unemployment rates and occupied office space are among the most reliable indicators of parking demand in an urban market, because firms that occupy office space exhibit a strong propensity to attract employees and commercial visitors. Since 2005, the historical unemployment rates in Omaha exhibit a similar trending line to state and national unemployment statistics. The historical trend for unemployment rates in Omaha-Council Bluffs MSA is shown in the following exhibit. Exhibit 2: Historical Unemployment Rates 10.0% 9.0% 8.0% 7.0% Unemployment Rate 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% United States 5.3% 4.7% 4.6% 5.0% 7.8% 9.7% 9.0% 7.9% 6.7% 6.1% Nebraska 5.3% 4.2% 4.0% 3.8% 5.1% 6.2% 4.3% 4.0% 3.6% 3.5% Omaha-Council Bluffs MSA 4.0% 3.3% 2.8% 2.8% 4.1% 5.0% 5.5% 3.6% 4.3% 3.8% Source: U.S. National Bureau of Labor and Statistics represents a partial year up to the month of May. At present, a total of 4,608,777± square feet of commercial office space is located in Downtown Omaha 1 and the current office vacancy rate is approximately 8.4 percent. In support of the existing and increasing downtown employee base, complementary developments such as residential, commercial and lodging properties are being added to the market. Many of the new developments include provisions for employee and visitor parking that include the use of private and public parking resources. 1 Colliers International, Research & Forecast Report, Q2 2014, Office, Omaha Metro Area 5
8 PARKING INVENTORY A total of 41,063± parking spaces are located in the 136-block study area. Of the total inventory, approximately 36,147± or 88 percent are located off-street and 4,916± or 12 percent are on-street. Approximately 21,302± spaces or about 52 percent of the total supply is designated for private use, while the remaining 19,761± spaces or 48 percent are open to the general public. A summary of the parking inventory within the study area is shown in the following two exhibits. Exhibit 3: Study Area Parking Supply by Location and Type Parking Access Parking Type Parking Location Public 19,761 48% Private 21,302 52% Surface Lot 18,748 46% Garage 17,399 42% On-Street 4,916 12% Off-Street 36,147 88% On-Street 4,916 12% Source: Walker Parking Consultants, May 2014 Exhibit 4: Parking Inventory Public Private Public Private Off-Street On-Street On-Street On-Street On-Street Zone Garage Garage Lot Lot Total Metered No Meter Private Total Total % of Total Creighton - 1, ,928 3, ,725 9% North Downtown ,108 1, ,090 5% TD Ameritrade/ CenturyLink 1,485-4, , ,459 16% Civic 591 1,400 1, , ,767 12% West Downtown 1, ,108 2, ,888 7% CBD 1,455 3, , ,056 15% South Downtown ,372 2, ,730 7% Southwest Downtown ,439 4% North Old Market 1, , ,128 8% Old Market 1, , ,684 9% ConAgra/ Union Pacific - 1, , ,392 6% River Front % Gallup % Miller's Landing % Total 7,535 9,864 7,504 11,244 36,147 3,416 1, ,916 41, % Source: Walker Parking Consultants, May
9 PARKING OCCUPANCY Approximately 56 percent of the total parking supply is utilized during typical peak weekday conditions and 45 percent during typical peak weekday evening conditions. Weekday and evening parking occupancy figures for each market zone are shown below. Exhibit 5: Weekday Parking Occupancy Public Private Public Private Off-Street On-Street On-Street On-Street On-Street Total Total Zone Garage Garage Lot Lot Total Metered No Meter Private Total Vehicles Occupancy Creighton ,183 1, ,201 59% North Downtown % TD Ameritrade/ CenturyLink , ,200 19% Civic , ,384 50% West Downtown 1, , ,837 64% CBD 1,414 3, , ,219 86% South Downtown , ,900 70% Southwest Downtown % North Old Market 1, , ,158 69% Old Market , ,163 59% ConAgra/ Union Pacific - 1, , ,063 86% River Front % Gallup % Miller's Landing % Total Occupancy 5,281 8,162 1,112 5,992 20,547 1, ,491 23,038 56% Total Supply 7,535 9,864 7,504 11,244 36,147 3,416 1, ,916 41,063 % Occupancy 70% 83% 15% 53% 57% 49% 56% 54% 51% 56% Exhibit 6: Evening Parking Occupancy Public Private Public Off-Street On-Street On-Street On-Street On-Street Total Total Zone Garage Garage Lot Private Lot Total Metered No Meter Private Total Vehicles Occupancy Creighton , ,412 38% North Downtown % TD Ameritrade/ CenturyLink 1, , ,340 36% Civic , ,374 29% West Downtown , ,189 41% CBD 700 2, , ,479 57% South Downtown , ,764 65% Southwest Downtown % North Old Market , ,524 49% Old Market , ,379 65% ConAgra/ Union Pacific - 1, , ,896 79% River Front % Gallup % Miller's Landing % Total 3,776 7,336 1,193 3,267 15,572 2, ,101 18,660 45% Total Supply 7,535 9,864 7,504 11,244 36,147 3,416 1, ,916 41,063 % Occupancy 50% 74% 16% 29% 43% 77% 28% 46% 63% 45% Source: Walker Parking Consultants, May Data collection occurred on a Wednesday, Thursday and Friday. 7
10 The following two exhibits provide a visual depiction of the parking occupancy levels during a typical weekday and evening on a block-by-block basis. Exhibit 7: Daytime Occupancy Source: Walker Parking Consultants, May 2014 Weekday parking demand is most intense near major downtown office building with low vacancy rates located in the core Central Business District and near the Creighton University campus. While localized areas of intense demand exist (Red), there are also localized areas with a significant number of unoccupied parking spaces (Green). 8
11 Exhibit 8: Evening Occupancy Source: Walker Parking Consultants, May 2014 Evening parking demand is most intense near the Old Market and Central Business District. Similar to the daytime, while there are localized areas of high demand (Red), there are also areas with a significant amount of unoccupied supply (Green). 9
12 In evaluating the parking occupancy data, peak occupancy for a specific zone may reflect a relatively low number, but a parking market segment in the same zone may be utilized at a higher rate. For example, on-street meters may be utilized at a higher rate than off-street garages or lots. A breakdown of weekday and evening occupancy rates by zone and parking type are shown in the next exhibit. Exhibit 9: Current Parking Occupancy by Study Area Zone Zone Public Garage Private Garage Public Lot Private Lot Off-Street Total Metered No Meter Private On-Street Total Total Occupancy Creighton Weekday - 62% 49% 61% 61% 26% 51% 61% 48% 59% Evening - 67% 55% 23% 40% 31% 25% 8% 25% 38% North Downtown Weekday - - 5% 52% 38% 38% 15% - 29% 36% Evening - - 1% 19% 13% 33% 4% - 21% 15% TD Ameritrade/ CenturyLink Weekday 51% - 5% 83% 18% 38% 9% 80% 26% 19% Evening 83% - 19% 82% 36% 90% 5% 80% 47% 36% Civic Weekday 39% 70% 36% 56% 50% 54% 35% - 50% 50% Evening 24% 68% 6% 3% 29% 34% 12% - 29% 29% West Downtown Weekday 84% 100% - 32% 63% 49% 763% - 68% 64% Evening 50% 100% - 15% 40% 44% 438% - 54% 41% CBD Weekday 97% 84% - 84% 88% 51% 255% 60% 69% 86% Evening 48% 59% - 33% 55% 93% 71% 20% 85% 57% South Downtown Weekday - 100% 51% 62% 74% 47% 75% - 54% 70% Evening - 100% 54% 40% 59% 103% 20% - 84% 65% Southwest Downtown Weekday - 100% 31% 48% 48% 25% 32% - 29% 42% Evening - 100% 3% 12% 14% 66% 12% - 37% 22% North Old Market Weekday 76% 79% - 57% 71% 37% 233% - 52% 69% Evening 20% 88% 43% 36% 42% 102% 100% - 102% 49% Old Market Weekday 57% 82% 31% 48% 57% 64% 59% 48% 63% 59% Evening 57% 94% 7% 22% 52% 101% 97% 86% 99% 65% ConAgra/ Union Pacific Weekday - 100% - 75% 89% 27% 44% 70% 39% 86% Evening - 100% - 52% 79% 96% 85% 0% 81% 79% River Front Weekday % 27% - 28% - 28% 27% Evening % 52% - 52% - 52% 50% Gallup Weekday % 45% % Evening % 18% % Miller's Landing Weekday % 32% % Evening % 44% % Source: Walker Parking Consultants, May
13 EFFECTIVE SUPPLY An important concept in the analysis of parking adequacy is that of the effective supply. To further analyze the inventory, Walker adjusted actual supply to reflect the effective parking supply for each category. A parking system operates at an optimum efficiency somewhat less than the actual capacity. In the early years of parking planning, ratios for parking systems were developed based on observation on a day selected to represent a busy day. All too often, this supply was subsequently determined to be inadequate due to the users perception and complaints that the supply was inadequate. The occupancy at which optimum efficient is reached varies, but generally ranges from 85 percent to 95 percent. Key determinants are size of the system and the type(s) of users. The excess spaces reduce the need to search an entire system for the last few available spaces, as well as provide for vehicle maneuvers, operating fluctuations and vacancies created by spaces reserved for certain users (such as parking for persons with disabilities), and losses due to misparked vehicles, snow cover, etc. The effective supply cushion in a system also provides for unusual peaks in demand; on some, if not all, peak days, the parking system may not operate as efficiently as is desirable, but can absorb the occasional higher demand. For this analysis, Walker applied the following effective supply factors: Private Off-Street = 95% Public Off-Street = 90% Public On-Street = 85% Exhibit 10: Effective Parking Supply Summary Parking Supply Private Off-Street Public Off-Street On-Street Total Actual Supply 21,108 15,039 4,916 41,063 Effective Supply 20,053 13,535 4,179 37,766 Effective Supply Cushion (#) 1,055 1, ,297 Effective Supply Cushion (%) 5% 10% 15% 8.7% Source: Walker Parking Consultants, 2014 The following table shows the detailed parking inventory and calculated effective supply by zone. Exhibit 11: Current Parking Effective Supply by Zone Zone Actual Supply Private Off-Street Public Off-Street On-Street Effective Supply Factor Effective Supply Actual Supply Effective Supply Factor Effective Supply Actual Supply Effective Supply Factor Effective Supply Total Effective Supply Creighton 3,018 95% 2, % % 399 3,480 North Downtown 1,108 95% 1, % % 452 1,910 TD Ameritrade/ CenturyLink % 224 6,136 90% 5, % 74 5,821 Civic 1,962 95% 1,864 2,292 90% 2, % 436 4,363 West Downtown 1,354 95% 1,286 1,237 90% 1, % 252 2,652 CBD 4,162 95% 3,954 1,455 90% 1, % 373 5,637 South Downtown 2,052 95% 1, % % 502 2,530 Southwest Downtown % % % 400 1,314 North Old Market 1,354 95% 1,286 1,412 90% 1, % 308 2,865 Old Market 1,074 95% 1,020 1,612 90% 1, % 848 3,319 ConAgra/ Union Pacific 2,260 95% 2, % 112 2,259 River Front % % Gallup % Miller's Landing % Total 21,108 20,053 15,039 13,535 4,916 4,179 37,766 Source: Walker Parking Consultants,
14 CURRENT PARKING ADEQUACY Parking adequacy refers to the number of unoccupied parking spaces in a given area. This number is important because it compares the current vehicle occupancy to the effective parking supply. Areas that were observed to have move vehicles parked than the effective supply will be shown as a negative number. Negative adequacy represents a shortage of parking in that area. Shown in the following two exhibits are the calculated parking adequacies by zone for weekday and evening periods. Exhibit 12: Weekday Daytime Current Parking Adequacy by Zone Zone Effective Supply Private Off-Street Public Off-Street On-Street Peak Occupancy Adeqaucy Effective Supply Peak Occupancy Adequacy Effective Supply Peak Occupancy Adequacy Total Surplus / (Deficit) Creighton 2,867 1,858 1, ,279 North Downtown 1, ,160 TD Ameritrade/ CenturyLink , , ,621 Civic 1,864 1, , , ,979 West Downtown 1, ,113 1, CBD 3,954 3, ,310 1, South Downtown 1,949 1, Southwest Downtown North Old Market 1, ,271 1, Old Market 1, , ,156 ConAgra/ Union Pacific 2,147 2, River Front Gallup Miller's Landing Total 20,053 14,154 5,899 13,535 6,393 7,142 4,179 2,492 1,687 14,727 Source: Walker Parking Consultants, 2014 Exhibit 13: Weekday Evening Current Parking Adequacy by Zone Private Off-Street Public Off-Street On-Street Zone Effective Peak Effective Peak Effective Peak Total Surplus / Adeqaucy Adequacy Adequacy Supply Occupancy Supply Occupancy Supply Occupancy (Deficit) Creighton 2,867 1,166 1, ,068 North Downtown 1, ,587 TD Ameritrade/ CenturyLink ,522 2,105 3, ,481 Civic 1, , , ,989 West Downtown 1, , ,463 CBD 3,954 2,407 1,547 1, ,158 South Downtown 1,949 1, Southwest Downtown ,004 North Old Market 1, , ,341 Old Market 1, , ConAgra/ Union Pacific 2,147 1, River Front Gallup Miller's Landing Total 20,053 10,603 9,450 13,535 4,969 8,566 4,179 3,101 1,078 19,093 Source: Walker Parking Consultants, 2014 The current parking adequacy indicates ample parking availability in the study area. Localized parking challenges exist during the weekday in the CBD and during the evening in Old Market. The large amount of unoccupied parking supply located in the study area presents an opportunity to share parking resources during peak conditions and manage demand. 12
15 OLD MARKET ON-STREET PARKING The on-street parking in the Old Market area is highly utilized during a typical evening. The spaces are used by patrons, employees and residents of the area. In 2012, new automated on-street meters that accept credit/debit card and coin payment were installed to improve parking management and offer patrons a higher level of service and convenience. Since the installation, the Parking Department also implemented a new mobile application payment option that offers greater convenience for the end users. The on-street meters are enforced from 8:30AM to 5:00PM, Monday through Friday and the time limits and rates include three options; 2 hours at $1.00 per hour, 3 hours at $0.75 per hour, and 10 hours at $0.25 per hour. Walker conducted field observations to determine the average duration a car is parked on-street in the central area of the Old Market. The average length of stay was approximately two hours on a weekday between the hours of 10:00AM and 5:00PM. The average length of stay increased to approximately two hour and thirty minutes during a Friday between the hours of 12:00PM and 11:00PM. In addition to Walker s field observations, the Parking Department provided the following on-street parking data that coincides with Walker s field observations. Exhibit 14: Old Market Average Length of Stay for On-Street Parking Old Market Weekday Old Market Weekend <3 Hours >3 Hours >4 Hours >5 Hours >6 Hours 90.52% 6.56% <3 Hours >3 Hours >4 Hours >5 Hours >6 Hours 84.46% 12.14% Source: City of Omaha Parking Department
16 SUMMARY OF CURRENT CONDITIONS The purpose for evaluating the current parking inventory and occupancy during peak weekday and evening conditions is to determine whether or not the parking supply is adequate to serve the needs of the downtown community. Although localized parking challenges exist within the study area, there are opportunities to improve the current parking conditions and maximize use of underutilized parking resources through improved shared parking practices. Peak weekday parking demand occurs between the hours of 10:00 AM and 1:00 PM. During that period, the overall parking occupancy is 56 percent. With a total parking supply of 41,063± spaces, during peak weekday conditions there are approximately 44 percent or 18,025± unoccupied spaces in the downtown study area. There are locations in the study area that exhibit higher demand patterns than other areas. The corporate tenants located in the Central Business District have a need for employee parking during the weekday. The demand for employee parking is serviced by a combination of public and private parking facilities. The demand patterns in the downtown study area indicate that significant amounts of unoccupied parking supply are located within four to six blocks from the core Central Business District. The challenge is not a shortage of supply, but rather the location of supply. 14
17 FUTURE CONDITIONS Parking adequacy relates directly to changes in land uses within the defined study area. The land use information used to evaluate future parking conditions comes directly from 1) the Downtown Omaha 2030 Plan and 2) information on potential development sites provided by the City of Omaha Planning Department. The 2030 Plan is strategic in nature and identifies multiple projects and potential development scenarios within and adjacent to the study area. The site planning information from the City is also general, but focuses on specific parcels of land PLAN The following exhibit provides a summary of Downtown Omaha 2030 projects included in our analysis. Data includes the development by land use, provided parking, and impacted block numbers. Exhibit 15: Potential Future Developments within the Study Area 2030 Plan Land Use Detail Downtown Core Total Square Footage Comm. SF Office SF Flex SF Resid SF Hotel SF Misc SF Resid Units Hotel Rooms Parking Provided Walker Block/s Capitol Heights 1,159,990 50, ,240 4, , , Flatiron Park 654,560 63, , , Downtown Infill 3,801, ,370 2,334, , , , ,154 North Downtown & TD Ameritrade/Centurylink Areas Lot B 753, , , , , , Lob D 225,325 13, , , , , Pinnacle Site 1,156,050 38, , , , , , Civic & West Downtown Areas Joslyn Heights 746, , , , Joslyn Terrace 856, , , , , Joslyn District Infill 646,300 42, , South Old Market Area Near South Infill 197, , North Downtown NoDo 807, , , , , ; Riverfront Grand Lawn 434,800 21, , , Old Market District Old Market East 654,650 31, , Old Market Green 335,550 84,750 41, , Old Market Infill 470, , ,050 77, , Southwest Downtown Leavenworth Infill 698,080 89, , Saint Mary's Green 136, , ConAgra /Union Pacific & South Riverfront Areas Riverview 621,000 22, , Downtown Plan Totals 14,355,775 1,391,995 4,491,300 25,470 5,823, ,260 1,360,140 3,712 1,203 23,545 15
18 Each new project includes new demand as well as a projection of parking supply for the project. Walker assumes parking is added as projected in the plan for each development through private participation. Other factors outside these developments may also impact parking conditions, such as increased building occupancy levels, other new redevelopment, increases in employment, and mass-transit initiatives. FUTURE PARKING DEMAND CALCULATION To calculate the projected future parking demand, Walker reviewed the planned future developments and applied parking demand ratios. The basis of these applied parking demand ratios is the Urban Land Institute (ULI), the Institute of Transportation Engineers (ITE) and Walker s research of parking generation based on each specific land use. Specific base ratios, percentage of total square footage, and assumptions used in our analysis include: Commercial (10%) Mix of retail and restaurant uses; 5.50 spaces /1,000 sf (blended rate) Office (31%) Mix of office space; 3.80 spaces /1,000 sf Residential (43%) Mix of apartment and condominium units; 1.65 spaces /unit Hotel (6%) Primarily a business hotel; 1.25 spaces /unit Based on these demand ratios and land use sizes, Walker modeled the base parking demand for a typical weekday and weekend. Land uses not included in the projection are Flex (0.2%) and Miscellaneous (9%). Although not detailed in the 2030 plan, they are assumed to include green space, entryways, public areas, and event type venues not included in the land uses listed above. To evaluate and calibrate our projections, a comparison was made with the parking demand projection provided within the 2030 Plan before making adjustments. Three adjustments were applied to the base demand ratios: Time of Day, Drive Ratio, and Non- Captive adjustments. These adjustments were applied to reflect the anticipated parking demand during a typical weekday during business hours and during a typical weekend. The adjustments are summarized as follows: Time of Day Adjustment: Different land uses have different occupancy characteristics depending on the time of day. During business hours on a typical weekday residential parking is adjusted to reflect a larger portion of the parking demand to be away from the land use. Conversely, office parking demand is adjusted to reflect peak demand during this time period. Drive Ratio Adjustment: This reduction accounts for patrons arriving to the development via means other than a private vehicle. This includes mass transit, walking, carpooling, etc. The basis for this reduction is U.S. Census data as well as transportation characteristics of the study area. Non-Captive Adjustment: This reduction accounts for patrons using multiple land uses in one trip. An example is an office worker visiting a retail establishment or restaurant during the day. 16
19 The Downtown Omaha 2030 Plan provides an overview of potential developments within the study area. These developments account for more than 14 million square feet of development. The largest portion of which are residential units (+3,700 units), followed by office space (+4.4 million sf). In addition to the new land uses, a portion of parking for the developments is included; although not sufficient to meet all of the projected parking demand of each of the developments. Residential parking presents its own unique challenges, such as reserved parking and limited potential for sharing with other land uses. Commercial space includes both retail and restaurant space, both of which have very different demand ratios and peak hours of usage. Land Use Summary Downtown Omaha 2030 Plan Residential 43% Hotel 6% Commercial 10% Office 31% Misc & Flex 10% Based on the data, overall future parking is projected to be a d e q u a t e during a w e e k d a y day and weekday evening in all but the CBD Zone. The CBD or Downtown Core r epresents over 5.6 million square feet of development or about a third of the developments listed in the 2030 Plan. A summary of the projected impact of the 2030 Plan on weekday day and evening parking conditions is provided in the following exhibit. As shown, the most notable impacts to parking from the 2030 Plan are projected to occur in the CBD, South Downtown and Old Market areas of downtown Omaha. Exhibit 16: Projected Weekday and Evening Parking Adequacy Weekday Daytime Weekday Evening Zone Projected Demand Projected Peak Occupancy Projected Demand Projected Peak Occupancy Creighton 1,722 46% 1,469 39% North Downtown 2,590 53% 2,368 47% TD Ameritrade/ CenturyLink 5,581 42% 4,355 31% Civic 6,636 65% 4,318 43% West Downtown 2,500 70% 2,786 61% CBD 9, % 4,959 76% South Downtown 5, % 3,433 75% Southwest Downtown 2,352 65% 1,929 50% North Old Market / Old Mark 6,812 85% 5,383 67% ConAgra/ Union Pacific 3,243 73% 3,558 80% River Front % % Gallup % 67 13% Miller's Landing 4 3% 29 13% Total 46,595 73% 35,421 53% Note: Assumes parking and all developments within 2030 Plan come to fruition. No other growth is assumed. Source: Walker Parking Consultants 2014, Downtown Omaha 2030 Plan 17
20 PROJECTED FUTURE PARKING ADEQUACY The projected weekday and evening parking adequacy is shown in the next two exhibits. Exhibit 17: Projected Weekday Day Parking Demand At full build-out, there is a projected deficit of parking in the CBD, but an overall surplus of parking in the study area. 18
21 Exhibit 18: Projected Weekday Evening Parking Demand 19
22 NEW OFFICE TOWER An additional analysis was performed to assess the potential impact future developments may have on the parking system in downtown Omaha. The City of Omaha provided multiple sites that could accommodate new office, commercial and parking development. Each potential site was evaluated based on a maximum development capacity of 25,000 sq. ft. floor plates and a total of 350,000 sq. ft. The potential development sites are shown in the following exhibit. Exhibit 19: Potential Development Sites 350,000 Sq. Ft. Office Tower Potential Office Tower Development Sites Potential Employee Shuttle Routes 20
23 All locations offer opportunities to leverage the existing parking supply and mitigate building new parking. Peak weekday parking demand is projected at 1,120± spaces. Assumes 95 percent building occupancy rate. A downtown transit circulator available to all downtown employees could materially increase access to unoccupied parking areas and reduce the need to build structured parking in the near-term. Sites could accommodate 1,080 to 1,400 structured parking spaces. If an office tower is built at any of the locations, new on-site parking would likely be built to serve on-site tenants and visitors. Public parking would accommodate any overflow parking needs. Similar to the projected impact of the 2030 Plan, the parking demand generated by a new 350,000 sq. ft. office tower would increase the occupancy levels of surrounding public parking facilities. However, new on-site parking built to serve an office tower could meet most, if not all of the office parking needs. 21
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