Laserfiche WebLink
memo <br />To: <br />Santa Ana City Councilmembers <br />From: <br />Robert H. Bisno <br />Date: <br />December 20, 2017 <br />Re: <br />The Madison Mixed Use Community <br />200 North Cabrillo Park, Santa Ana, California <br />Economic Necessity Of A Parking Variance To Permit <br />Development On The Property With No More Than 1.8 Parking <br />Spaces Per Unit (468 total parking spaces) <br />As members of the Council know, I am a real estate developer and have <br />been so for many years. I have developed in Santa Ana (City Place) and many <br />other communities. Developments I have participated in include developments <br />with parking of all types from multi-level fully underground parking to parking on <br />grade to above grade parking structures. <br />I have reviewed the rental market for 200 N. Cabrillo Park Drive, Santa Ana, <br />California (the ('Property") and am familiar with construction costs in the Orange <br />County area. Additionally, I have consulted other real estate developers doing <br />business in Orange County and throughout California to determine the viability of <br />Podium Parking at more than 1.8 parking spaces per unit (468 parking spaces in <br />total) for the subject property. "Podium Parking" in this memorandum is parking in <br />a concrete structure under residential units, as opposed to parking in a separate <br />structure. Podium Parking is significantly more costly than parking in a separate <br />structure (often called "Wrap° parking, as the residential units wrap, so to speak <br />around the parking). Podium Parking provides a more desirable living environment <br />and allows more residential units per acre, increasing city revenues. <br />I have not spoken to any developer who believes they could profitably <br />develop a Podium Parking apartment or mixed use community on the Property if <br />they were required to build greater than 1.8 parking spaces per unit, unless <br />significant other concessions were received, such as reduction or elimination of <br />fees to the City or less than market financing, tax credits or similar incentives. Most <br />importantly, constructing more parking is a waste of resources and not required to <br />properly operate our proposed community. <br />Page 7 of 9 <br />75A-79 <br />