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Mr. Robert Bisno October 3, 2017 Page 7 providing a supply of 445 spaces, which, when divided by 260 dwelling units, corresponds to a parking supply ratio of 1.71 spaces per dwelling unit. This supply ratio of 1.71 spaces per dwelling units is 15% to 40% greater than the empirical ratios from the six comparable sites most similar to the Project. Project Parking Supply versus Demand The bottom portion of Table 2 estimates the project's parking needs based on the application of the average, 85`s percentile, and 95h percentile parking rates from comparable sites. For the 260 units as now proposed, it is estimated that the average demand would be 351 spaces, the 85th percentile demand would be 385 spaces, and the 95ffi percentile demand would be 419 spaces. Comparing the 95' percentile demand of 419 spaces against the proposed supply of 445 spaces yields a surplus of 26 spaces. Residential guest parking will be shared with the retail component of the Project. Based on ULI's Shared Parking publication, the peak parking time periods for retail uses occur on weekends between 1:00 PM and 5:00 PM, which does not coincide or overlap with the residential peak parking demand occurring on weeknights during overnight hours. On a theoretical basis, the "standalone" parking requirement for the 6,561 -SF retail component of the Project would be 33 spaces (calculated based on the City Code ratio for retail of 5 spaces per 1,000 SF). Applying ULI hourly profiles (i.e., 0% at 12:00 AM/midnight on a weeknight, and 100% at 2:00 to 3:00 PM on a weekend) to this 33 -space requirement yields no spaces for a weeknight, and 33 spaces for the weekend, from a "shared demand" standpoint. This indicates that the retail component will not generate any overlapping demand with the residential guest parking during the late weeknight/ovemight peak period. During the weekend/Saturday midday peak period for retail, up to 33 spaces for retail will need to be shared with residential guests. Comparing the 33 -space retail demand against the 53 guest parking spaces to be provided by the Project corresponds to a remainder of 20 spaces for residential guest use on weekend afternoons. The residential guest demand during weekend afternoons is estimated by applying an empirical ratio of 1.13 spaces per unit (the greatest Saturday afternoon ratio reported on Table 2) to 260 units, multiplying by 25% (City Code requirement for guest parking), then multiplying by 20% (the time -of -day factor per ULI's Shared Parking methodology), resulting in a residential guest demand of 15 spaces. Adding this 15 - space demand for residential guests to the 33 -space demand for retail yields a total demand of 48 spaces. Comparing the 48 -space residential guest and retail total N: _3700 2163755 - The N lxlieon, Sana Ana' Pad: ing StudyRepor63755 the Madison Padang, Study 10-3-I Zdoc 75A-52