New and exciting things are happening in the 10951 Pico neighborhood! The Expo line will connect the area around 10951 Pico with transit to Downtown and Santa Monica, as well as providing 1,795 new parking spaces. It will also feature a 250 space free Caltran commuter lot. The Expo Station will be less than a half mile from the 10951 Pico Creative Offices (at Veteran Avenue and Pico Boulevard), making the walk just under ten minutes. Compared to other cities, where a ten minute walk is nothing, LA Westsiders consider this trek an inconvenience. Even a short five-minute walk borders as unbearable. Los Angelenos just don’t walk from parking or transit to work.
Even now, there is plentiful free parking along the Expo line that is a five-minute walk from the 10951 Pico Creative Offices. However, some tenants do not recognize such parking as convenient.
In Beverly Hills for example, some office deals hinge on parking spaces next to the elevator. It can get that competitive. More transit and parking is coming, but the big question is if employees will get used to walking back and forth from the parking located 5-10 minutes away from their respective work locations. As office densities continue to increase beyond five per 1000 square feet, tenants and employees alike will need find locations near parking and transit, and learn to walk longer to work. A University of Michigan survey found that teenagers in 2010 were much less likely to drive than teenagers in 1983, so maybe times are changing.
The mixed-use project proposed at the Sepulveda/Pico site includes on-site bike and car sharing facilities, bicycle parking, and will even offer transit incentives and free or discounted Metro Passes to residents and employees by the developer. Once this project is finished, time will tell if those enticing amenities and incentives will encourage more people to use transit to get to work.To learn more, read about the proposed parking in this article.
PMI recently applied for a variance which would reduce the parking requirements on two of its office buildings in the SoMa district of San Francisco. The City granted the variance on 625 Third Street and 539 Bryant citing that San Francisco has substantially improved its public transit in the area. The City also recently changed the parking zoning requirement from a minimum number of spaces required to a maximum number of spaces allowed. Both properties are of easy walking distance to the Caltrain and within a block of municipal transit which runs every four minutes for a ten minute ride to BART. Transit options will exponentially increase for the two properties. The City has commenced construction on the new fourth street subway which will connect Caltrain SoMa with Chinatown with a stop near BART. PMI has also contributed to the transit-friendly situation. At PMI’s buildings, arrangements have been made with a garage near the Embarcadero BART Station for tenants to park their bikes at the garage overnight. Tenants can then take the BART into the city and ride their bikes the rest of the way to work. At 410 Townsend in SoMa, near Caltrain, PMI made arrangements for Zipcar, a car sharing company, to keep cars in its garage for the benefit of their tenants.
PMI Properties is an owner and investor in creative office buildings on the Westside of Los Angeles and in San Francisco. Availabilities include 2,000 square feet in Santa Monica and Marina Del Ray and up to 18,000 square feet in Culver City. For more information, go to http://www.pmiproperty.com.