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IBJ, it’s East Maryland at Penn, not West Maryland.
Cool,so many more projects are in the pipeline and more coming.
Another correction:
HRI ‘s parking structure is south not west.
Does anyone know the status of the Simon plan to build a hotel and apartment building directly across from Gainbridge’s Fieldhouse?
They are are not shown on the Downtown Indy map of future development projects.
Good news, this parking lot has turned into an eyesore with the weeds and dilapidated fence. It’s nice to infill these prominent sites.
Such a boring design
It should be required to have its own parking.
There are several parking garages within walking distance.
Downtown Indy has HUGE parking garages that sit half-empty most of the time. It’s in the city’s best interest to have property developers leverage existing resources.
The national average (looking at 50 years worth of data) is 1.24 on site parking spaces per hotel room. This can vary depending on local regulations and tends to range from 1.21 to 1.32 parking spots per room (to accommodate guest plus staff). Generally speaking, higher end (luxury) hotels have more parking spaces than the national average as they offer more services and can also include convention facilities, therefore requiring higher number of parking spaces per room (can approach 3 or 4 parking spaces per room). Cities have found that if hotels do not require hotels to build their own parking facilities, the local population pays a much higher rate for parking as the demand increases for parking (often times in downtown locations) therefore, supply and demand takes over and parking rates increase accordingly, sometimes doubling and tripling parking rates. Some cities charge the developer an impact fee that can be six and seven figures when they are short of the minimum parking requirements.
Hope the city’s historic society doesn’t do what they did before and kill this because “It doesn’t match the aesthetics of this corner of downtown.”