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Jeremy Ogulnick August 5, 2020 Page 12 Road. The adjoining land uses to Apex Laguna Niguel consist of mostly residential uses, with commercial uses to the east. Based on the above descriptions of six existing sites, locational and parking -related characteristics are similar and comparable to the Project (i.e., not located in a TOD/Transit-Oriented Development, with no off -site parking nearby, which can reduce on -site parking needs), with their empirical parking demand ratios considered to be indicative of the Project's potential parking needs. The Project will be providing a supply of 2,200 spaces, which, when divided by 1,100 dwelling units, corresponds to a parking supply ratio of 2.0 spaces per dwelling unit, inclusive of 163 "car lift" spaces. This supply ratio is greater than the empirical ratios from the six comparable sites most similar to the Project and helps validate adequacy of parking for the Project. Residential Component Parking Supply Based on review of Table 1, parking for the residential component of the Project will be primarily provided via structured parking, plus two (2) surface stalls. As shown, a total of 1,918 "lst access" spaces will be provided, which will be supplemented by an additional 117 "2°d access (tandem)" spaces provided within the Project's parking structures, and 163 "car lift" spaces for a total supply of 2,200 stalls (1,918 + 2 + 117 + 163 = 2,200). The Project's proposed residential parking supply of 2,200 spaces allows for the provisions one parking space per bedroom, which total 1,404 bedrooms, with a remaining balance of 796 spaces that could be used to accommodate residential guest parking demand and/or additional parking demand of future residents. Project Residential Parking Supply versus Demand The bottom portion of Table 5 estimates the project's parking needs based on the application of the average, 85d' percentile, and 95d' percentile parking rates from comparable sites. For the 1,100 units as now proposed, it is estimated that the average demand would be 1,518 spaces, the 85d' percentile demand would be 1,628 spaces, and the 95d' percentile demand would be 1,771 spaces. Comparing the 95d' percentile demand of 1,771 spaces against the proposed supply of 2,200 spaces yields a surplus of 429 spaces. Given these results, we conclude that the proposed residential parking supply of 2,200 spaces is more than adequate and will satisfy the Project's residential parking demands. To maintain adequate parking supply at all times, it is recommended that a Parking Management Plan (PMP) be implemented to ensure parking is available for all users, inclusive of determining, based on the actual needs of the Project, and when the use of "car lifts" would be necessary in the future. N'.\42=2204T14-The Bowery, Santa Ma ,.ftk274 The Wam RedhillR RedSANd029L,mat Plan 08-05-2020. doer