Date of Award
Master of Landscape Architecture (MLA)
Cunningham , Miller
Ford , Daniel
Innovative techniques for parking lot design over the past 15 years have resulted in new approaches which address stormwater concerns on commercial real estate sites. A mixed method approach was taken to establish financial value in these new techniques being used. Sheraton Station, a proposed mixed use Transit Oriented Development (TOD) site with multi modal transportation in Hollywood, Florida was used as a research and demonstration project to evaluate ways to make sustainable parking lots more cost effective for real estate developers. After conducting interviews and a survey to evaluate real estate developers' perceptions on the use of sustainable features in parking lot design, a sustainable design application was used on the current site plan. The sites current design was compared to the altered sustainable design for water runoff effectiveness as well as the financial feasibility of the parking lot, but not the parking garages. The preliminary results of the altered design suggests that implementing a sustainable parking lot costs approximately 24% more upfront in construction material costs and in ongoing maintenance based on a 20 year parking lot useful life. In order to mitigate the increased cost and due to sites reduction in stormwater runoff by 66%, the stormwater detention pond located in the southeast corner of the site was removed and the land was evaluated for an alternative and more cost effective use for the developer of the site. The land used for the stormwater detention pond in this study was to be used for the construction of an additional 6,500 sqft building. The rental income generated by the proposed increase in square footage from the additional building was able to offset the cost of the new sustainable features implemented in the parking lot. By adding the additional building the site remained sustainable from a stormwater runoff perspective while allowing it to become cost effective.
Letzeiser, Ryan, "VALUE ADD AND SUSTAINABLE PARKING STRATEGIES: A FINANCIAL EVALUATION AND REAL ESTATE DEVELOPER PERSPECTIVE" (2012). All Theses. 1376.