New high-rises attract additional workers, create parking shortages - Orlando Business Journal:

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Due to a shortage of hundredds of parkingspaces downtown, Erikson sets alar clocks to remind visitorx and employees forced to park in a metered lot when it'sw time to feed the "When people get busy with work here, they lose track of time," Erikson says. "But if they don't pay for a minute or two, they get a $32 Parking in downtown Orlando is becominf agrowing problem, especially for daytime officd workers, thanks to new emerginhg high-rises that are bringing more residents and white-collaer workers. In fact, the current parking pickle could even cause some companiexs to seek alternatives to downtownoffice space, say commercia l real estate experts.
To address the developers are planning parking garages as part of their new projectsa and the city intends to addmore parking. But more parkinbg garages are only part ofthe solution, says Orlandoo Transportation Director Roger Neiswender. The city determinef 15 years ago thatit wouldn't be able to meet its futures population's needs downtown by simply accommodating more The city's core also needs bettee connectivity and walkability, says Neiswender. "In the long the goal is to be able to tie tens of thousandsz of rooftops to The greatest issue for downtown business especially those new tothe area, is getting monthlt parking permits for theirr workers, says Erikson.
During the last two years, Erikson says he trierd several times to get a monthly parkingb permit fromthe city, withougt success. "They are all oversubscribed, unlesss we want to park at the courthousee a dozen or more blocks he says. Erikson finally learned about a new surface lot downtownm and was able to get one space for station PresidentMark Astrom. But the station'ws other employees and visitors still have nowhereto park, so the station' s management keeps $50 in quarters on hand for them to feed the New downtown development projects exacerbate Orlando's parking As part of an unprecedented buildinhg boom, a total of 41 project valued at more than $1.
5 billion are under constructionh or proposed for downtown. The projects are expectex to attract more than 1 million visitors to the area each The construction also takes certain parking garagezsand on-street parking out of use at various leaving downtown with only 9,0054 public parking spaces. "We know in the short we're 600 spaces from where we' want to be," says Inadequate parking is the greatest challenge to leasin g commercial real estate in theinned city, according to a recent Black's Guidwe survey.
Downtown Orlando could lose prospective corporate tenants to nearby including 's Southgate Business Park, whichb offers free on-site surface parking to its offic e tenants, says Mary Hurley, leasing manager of Pineloch "During the day, the tenantse are really challenged to find spaces in the parkingb garages where they are Hurley says. "It affects productivity, and it affectsa costs." However, Frank Billingsley, executive director of the , expect s corporate tenants to continue to favo r downtown due to its central location and itsfledglinv around-the-clock city lifestyle.
To accommodate the anticipated crushof downtown'sd growing population, the city is replacing 176 surfacew parking spaces in a lot between Washington Street and Jefferson Avenuwe with a 1,100-space, seven-story parking garage by In addition, many developers are including parkinvg garages in their new downtown For example, will demolishj the 380-space Market parking garage and replacr it with a 480-space garagew as part of its planned 55 West on the Esplanadwe project, a 32-story, 405-unit cond high-rise to be done in earlg 2008. In addition, parking deckws at Premiere Trade Plaza, where construction is well undedr way, will add 1,400 new parking spaces.
Another major downtown project on the drawintboard -- the $175 million, 1.4 million-square-foot, mixed-use Traditionn Towers -- will house the University Club of Orlandoo and will include a 900-space parking garage. the city, which owns most of the public parking is studying its future parkin needs as part of a new downtow ntransportation plan. The 20-poin strategic plan discusses creating interconnectec places that will allow downtown to bea pedestrian-, transit- and automobile-friendly area. The city expects to completew the parking aspect of the plan next Inthe meantime, if the city gets in a it will open surface parking at the says Billingsley.
Exactly how many parking spaces the city will need in the future is notyet known. "There's no absolute answer," Neiswender says. "Ity depends on the pace of development."