Monday, January 16, 2012

What are 23 parking spaces worth?





C'mon, seriously: Are those 23 spaces crucial to the future of downtown?
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5 comments:

Ryan Rogers said...

Actually could be a great place for a permanent food truck installation.

8:33 PM
dan chandler said...

Go to any mall such as Oxmoor, St. Matthews or Green Tree. The stores with the highest foot traffic are those along the main corridor, furthest from the parking. Space by the mall entrances, closest to parking, attracts fewer shoppers. The whole point of a mall is that each store get cross traffic from other stores’ customers. Enclosed mall space commands higher rents than strip mall space because customers walk past stores they otherwise would not have considered visiting, but visit they do. If each mall store had its own parking spaces, there would be no cross traffic customers.

The same principle works downtown. The more downtown merchants and restaurateurs insist that customers need not walk past other storefronts, the less they benefit from each other’s customers. Most downtown businesses will benefit by thinking of themselves as part of a shopping and entertainment district instead of cluster of unrelated businesses whose customers never cross.

Cross traffic is highest when the walking experience is most enjoyable. Historically, the mall had an advantage; part of the walk was past attractive storefronts. Downtown, much of the walk was past weed filled lots and boarded up buildings. The more pleasant the walkway, the more cross traffic will walk there. Mall operators know the importance of continuous attractive storefronts. Most mall leases contain a “lights out” clause that basically terminates the lease if the tenant closes the store, even though they continue to pay rent. If it’s not a pleasing environment, all tenants are hurt by reduced cross traffic.

So no, easy parking and foot traffic are not inextricably linked. Downtown has seen a business boom in the last five years despite no new parking. I don’t think this is coincidence. If you want isolated stores, you can get that anywhere; if you want a district, downtown NA offers something not found anywhere else in metro Louisville. Customers don’t like walking past places that are dirty, unattractive, loud or dangerous. So merchants, instead of making each other’s customers walk past bare concrete lots to get to your storefront, make sure your neighbor’s customers have an enticing trail to your storefront. Attractive facades do this. Attractive landscaping does this. Safe sidewalks do this. And calm, slow, quiet, two-way streets do this. These make places customers enjoy on foot.

12:21 AM
Antiques Attic said...

Couldn't agree more!!

12:33 PM
G Coyle said...

I think as a "lot" disproportionally tied to the success of downtown. It's been there for too too long reminding everyone of what has been lost, and what was created in return.

Expanding on Dan's comment, the downtown grid is screaming for some circle somewhere, just to break up the grid. Just to allow cross foot traffic that lot would be ideal. And we could have a big circle fountain in the middle, kinda up the ante on aesthetics, just a great spot also for people to sit and rest as they cross walk the area.

4:16 PM
Jeff Gillenwater said...

I suggested a return to the market houses on Market Street - or at least an open air, public gathering place where they used to be - a long time ago. We have the space and it would be relatively inexpensive. A fountain/circle at the intersection of Pearl and Market could work well as part of that.

Regardless of precise fountain location decisions, though, the overall notion is the same: people first in the downtown CBD with car parking concentrated at the periphery (all of a block or two away).

5:07 PM

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