City of Manhattan Beach
Lot 3 Options
Summary of Analysis
December 9, 2024
2301 Rosecrans Ave., Suite 4140
El Segundo, CA 90245
TEL: 424-297-1070 | www.kosmont.com
MANHATTAN BEACH LOT 3 ANALYSIS | DECEMBER 9, 2024 | 2
OUTLINE
Background
Lot 3 Profile
Downtown Parking Lots & Revenue
Local Market Conditions
Alternatives Considered
New Self-Parking Structure
New Automated Garage
Redevelop Site with Hotel
Public Parking on Alternative Sites
Summary & Next Steps
MANHATTAN BEACH LOT 3 ANALYSIS | DECEMBER 9, 2024 | 3
BACKGROUND
Kosmont Companies (“Kosmont”) is retained by City to evaluate potential options related to Parking Lot 3
Parking Lot 3 was demolished, will be replaced with a temporary surface lot Businesses proximate to Lot 3 reported notable impacts to business activity with even the partial closure of the structure
City requested a review of options including:
Reconstruction of the former structure
Development of an automated garage
Alternative reuse options for the site and certain off-site parking options Kosmont’s findings follow herein
All costs provided herein are preliminary order of magnitude estimates based on conceptual designs and subject to significant change
MANHATTAN BEACH LOT 3 ANALYSIS | DECEMBER 9, 2024 | 4
PRELIMINARY FINDINGS
There is likely a need to replace parking capacity (145 stalls) previously provided by Lot 3 Surface parking the Lot 3 Site will provide about 50% of the parking capacity of the former structure
If an automated parking structure is acceptable, the Lot 3 site has sufficient footprint to support the same amount of parking, plus additional uses, or an increase in total parking capacity
If a self-parked structure is desired, there will likely be a need to develop a partially subterranean structure to replace the prior parking capacity (due to height limitations and circulation constraints
T o the extent a subterranean structure is developed, City may desire to expand the subterranean footprint for parking and consider the viability of developing an amenity above Lot 3 site (e.g., hotel, restaurant, retail, etc.)
MANHATTAN BEACH LOT 3 ANALYSIS | DECEMBER 9, 2024 | 5
LOT 3 – FORMER STRUCTURE PROFILE
Former Lot 3 was three levels and had a total of 145 stalls, and 142 parking meters
Street level: 51 stalls / 48 meters
Middle deck: 38 stalls / 38 meters
T op deck: 56 stalls / 56 meters
Structure was constrained in width, but still fairly efficient at ~360 square feet / parking space
Street level: ~90’ in width / ~300 SF per space
Middle Deck: ~99’ in width / ~440 SF per space
T op deck: ~117’ in width / ~355 SF per space
Structure was ~170’ in length
MANHATTAN BEACH LOT 3 ANALYSIS | DECEMBER 9, 2024 | 6
LOT 3 – FORMER STRUCTURE PROFILE (CONTINUED)
Ground level utilized alley and 12th
Street for circulation / access to some
parking stalls
T op deck was cantilevered over alley
and 12
th Street
Ramp from top to middle deck
cantilevered over Morningside Drive
Structure utilized former Crest Drive
right of way
Lot area is 13,500 square feet without
Crest Drive ROW , 15,300 square
feet with Crest Drive ROW
MANHATTAN BEACH LOT 3 ANALYSIS | DECEMBER 9, 2024 | 7
STATUS OF EXISTING STRUCTURE
Lot will be repaved and provide ~70 stalls
Fundamental question becomes does it make sense
to make investment for:
Incremental increase in parking capacity
Potential to add commercial and/or other uses
on the site
Area businesses reported notable impact from July
2024 closure of top deck which reduced parking
count to ~89 stalls, suggests market demand for
more parking
MANHATTAN BEACH LOT 3 ANALYSIS | DECEMBER 9, 2024 | 8
Destination Share
Manhattan State Beach 6.9%
Metlox 5.2%
The Strand House 2.8%
Manhattan Beach Post 2.3%
The Izaka-YA by Katsu-Ya Manhattan Beach 2.3%
Simmzy's Restaurant Manhattan Beach 1.8%
Hennessey's Tavern 1.7%
SUGARFISH By SUSHI NOZAWA 1.1%
Rock'N Fish Restaurant 1.0%
The Rockefeller 0.9%
brewco social 0.9%
Shellback Tavern 0.8%
Shade Hotel Manhattan Beach 0.7%
Manhattan Beach Roundhouse Aquarium 0.7%
Love & Salt 0.7%
Pitfire Pizza 0.7%
Chase Bank 0.6%
VONS 0.5%
Esperanza Cocina de la Playa 0.5%
Beach by Everything But Water 0.5%
Splendid 0.4%
Culture Brewing Co Manhattan Beach 0.4%
Dash Dashi Sushi and Sake Bar 0.3%
Manhattan Beach Creamery 0.3%
The Coffee Bean & Tea Leaf 0.3%
LOT 3 – WHERE PEOPLE ARE GOING (TOP 25 DESTINATIONS, 2017-2023) More
Source: Placer.ai
MANHATTAN BEACH LOT 3 ANALYSIS | DECEMBER 9, 2024 | 9
LOT 3 – WHERE PEOPLE ARE COMING FROM
At least one visit in 2017
-
2023
At least one visit per year 2017
-
2023
Primary Users 2017
-
2023
Blue = Lower Visitorship
Red = Higher Visitorship
Blue = Lower Visitorship
Red = Higher Visitorship
Light Blue = Lower Visitorship
Dark Blue = Higher Visitorship
Source: Placer.ai
MANHATTAN BEACH LOT 3 ANALYSIS | DECEMBER 9, 2024 | 10 LOT 3 UTILIZATION PATTERNS (2017-2023)
2017 2018 2019 2020 2021 2022 2023
Year
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Month of Year
12:00 AM
1:00 AM
2:00 AM
3:00 AM
4:00 AM
5:00 AM
6:00 AM
7:00 AM
8:00 AM
9:00 AM
10:00 AM
11:00 AM
12:00 PM
1:00 PM
2:00 PM
3:00 PM
4:00 PM
5:00 PM
6:00 PM
7:00 PM
8:00 PM
9:00 PM
10:00 PM
11:00 PM
Time of Day
Source: Placer.ai
MANHATTAN BEACH LOT 3 ANALYSIS | DECEMBER 9, 2024 | 11
DOWNTOWN LOTS
Civic
Center
Metlox
Lot 3
Lot 1
Lot 7
Lot 2
Upper
Pier
Lower
Pier
Lot 8
Lot 6
Civic Center: 175 stalls / 81 meters
Lower Pier: 70 stalls / 68 meters
Upper Pier: 54 stalls / 50 meters
Metlox: 460 stalls / 419 meters
Lot 1: 47 stalls / 45 meters
Lot 2: 64 stalls / 61 meters
Lot 3: 145 stalls / 142 meters
Lot 6: 25 stalls / 23 meters
Lot 7: 19 stalls / 17 meters
Lot 8: 47 stalls / 0 meters
Downtown Streets: 339 stalls / 336 meters
Downtown T otal: 1,445 stalls / 1,242 meters
Source: City of Manhattan Beach
MANHATTAN BEACH LOT 3 ANALYSIS | DECEMBER 9, 2024 | 12
REVENUE PER STALL PER DAY
Civic Center
(Lower)
$3.26
Metlox
$5.08/
Lot 3
$11.90
Lot 1
$7.22
Lot 7
$8.78
Lot 2
$11.41
Pier Lots
$19.47
Lot 8
Lot 6
$15.56
Downtown Streets
$17.12
Gross revenue per meter per day within the City ranges from $3.26 at the Lower Civic Center Lot to $19.47 at
Pier Lots
Revenue for parking lots not shown: Bruce’s Beach -
$10.70, El Porto - $10.48, Lot 4 (Rosecrans & Highland) - $10.56
Loss of 75 stalls (145 versus 70 replacement) = loss of ~$900 per day / ~$325,000 per year in revenue (absent
higher utilization of substitute parking)
Gross meter revenue from Lot 3 may be able to directly support financing of ~$75,000 in replacement costs per
stall
City survey data suggest heavy utilization amongst the various City lots
Note: Lot enforcement hours and rates can vary by location. Titles in italics on map denote lots with high permit utilization.
North MB Streets
$8.89
Source: City of Manhattan Beach
MANHATTAN BEACH LOT 3 ANALYSIS | DECEMBER 9, 2024 | 13 Meters FY 21-22 FY 22-23 FY 23-24 Avg. / Day
Bruce's Beach 68 299,774$ 239,275$ 257,456$ 10.70$ Civic Center 81 101,281 94,047 94,178 3.26 El Porto 227 1,041,811 811,918 750,293 10.48 Lot 1 45 121,471 119,130 115,358 7.22 Lot 2 61 263,065 255,574 243,545 11.41 Lot 3 142 617,809 619,899 612,836 11.90 Lot 4 64 252,718 243,968 243,583 10.56 Lot 6 23 138,383 126,667 126,845 15.56 Lot 7 17 60,932 51,151 51,268 8.78 Parkview / Village 52 51,353 42,767 46,538 2.47 Metlox 419 867,383 751,010 712,140 5.08 Pier Lots 118 911,090 832,532 772,327 19.47 Downtown Streets 336 1,985,867 2,031,257 2,280,031 17.12 North MB Streets 31 104,169 97,495 100,271 8.89 Total 1,684 6,817,105$ 6,316,691$ 6,406,669$ 10.60$
GROSS ANNUAL REVENUE BY LOT
Note: Gray shading denotes lots impacted by permit holders. Lot 3 also impacted by permit holders.
Source: City of Manhattan Beach
MANHATTAN BEACH LOT 3 ANALYSIS | DECEMBER 9, 2024 | 14 PROXIMATE COMMERCIAL LEASE COMPARABLES – STRONG RENTS
1. 1215 Highland Ave
1,883 SF (1st & 2nd Floor)
$87 / SF MG (2/2023)
2. 1141 Highland Ave
1,000 SF (2nd Floor Office)
$84 / SF MG (9/2024)
3. 1110-12 Manhattan Ave
2,400 SF (1st Floor)
$66 / SF Asking (12/2021)
4. 1100 Manhattan Ave
1,200 SF (1st Floor)
$55 / SF Asking (2/2023)
5. 1015-25 Manhattan Ave
1,000 SF (2nd Floor)
$72 / SF Asking (9/2023)
6. 401 Manhattan Beach Blvd
2,518 SF (Plus Patio)
$145 / SF NNN (1/2024)
7. 451 Manhattan Beach Blvd
1,228 SF (1st Floor Retail)
$119 / SF NNN (1/2024)
8. 451 Manhattan Beach Blvd
2,620 SF (1st Floor Retail)
$117 / SF NNN (1/2023)
9. 451 Manhattan Beach Blvd
2,952 SF (2nd Floor Office)
$78 / SF N (1/2024)
10. 300 Manhattan Beach Blvd
4,833 SF (2nd Floor Office)
$81 / SF Asking (9/2021)
1 2
3 4
5 6
7 -
9 10
Source: CoStar
MANHATTAN BEACH LOT 3 ANALYSIS | DECEMBER 9, 2024 | 15 PROXIMATE COMMERCIAL SALES COMPARABLES – STRONG SALE VALUES
1. 229 13th St
1,318 SF (w/ T wo 1-Bed DU)
$1.7k / SF (6/2022)
2. 1300 Highland Ave #209
300 SF (2nd Floor Office)
$2.4k / SF (6/2024)
3. 1300 Highland Ave #108
300 SF (1st Floor Office)
$2.0k / SF (5/2023) 4.2% Cap
4. 1212-20 Highland Ave
4,093 SF (Retail / Office)
$2.7k / SF (5/2022)
5. 128 Manhattan Beach Blvd
2,250 SF (Restaurant)
$2.9k / SF (9/2021)
1 2&3
4 7
6. 1117 Manhattan Ave
4,482 SF (Retail)
$2.9k / SF (9/2021)
7. 208 Manhattan Beach Blvd
772 SF (Restaurant)
$2.7k / SF (7/2022)
8. 904 Manhattan Ave
7,404 SF (Retail / Office)
$1.6k / SF (12/2021)
9. 808 Manhattan Ave
3,134 SF (Office)
$940 / SF (9/2023)
5&6
9 8
Source: CoStar
MANHATTAN BEACH LOT 3 ANALYSIS | DECEMBER 9, 2024 | 16
ALTERNATIVES CONSIDERED
Refurbish Existing Structure
1. New Self-Park Structure
A. Include connection to Metlox parking garage
B. Consider inclusion of other commercial amenities
2. New Automated Garage
A. Include connection to Metlox parking garage
B. Include other commercial amenities
3. Hotel Use
4. Public Parking on Alternative Sites
MANHATTAN BEACH LOT 3 ANALYSIS | DECEMBER 9, 2024 | 17
SCENARIO I - NEW SELF-PARK STRUCTURE
Existing structure configuration was reasonably efficient, but required overhangs / encroachment on alley, 12th street
It is expected that new self-park structure on the same site would not be able to duplicate prior configuration due to current design requirements
May result in loss of 30% or more parking stall capacity versus prior structure Preliminary estimate of ~105 stall capacity if designed without overhangs Preliminary order of magnitude cost of reconstruction of existing facility is $65,000+ per stall Ultimately dependent on construction material, span length, foundation type, etc. Could elect to add one or more subterranean levels, but footprint may not be conducive to efficient circulation / configuration = costly
Assuming ~$65,000 cost per stall, direct replacement cost on the order of ~$7 MM+ (estimated ~$400k per year if financed)
Ongoing operating costs vary based on construction material, etc. but preliminary information suggests ~$600 per stall per year as a fair placeholder (~$63k per year for 105 stalls) MANHATTAN BEACH LOT 3 ANALYSIS | DECEMBER 9, 2024 | 18
SCENARIO I - NEW SELF-PARK STRUCTURE
Given a cost of ~$7 MM to increase parking from 70 surface stalls to ~105 structured stalls, the cost of each incremental stall is ~$195,000 Roughly equivalent to buying land for ~$560 per square foot This cost is substantially lower than estimated residual land value / trying to buy additional land for parking (easily ~$1,000+ per square foot of land for premium property without improvements)
If additional parking provided via subterranean option, would likely want to pursue larger deck layout below grade (depending on location of utilities) Could encroach under alley, Morningside Drive, and 12th Street Preliminary order of magnitude of $70,000 to 90,000 per stall for 1-2 subterranean levels At $70,000 - $90,000 and essentially buying land for $200 – 260 per square foot (given 350 square feet per stall)
MANHATTAN BEACH LOT 3 ANALYSIS | DECEMBER 9, 2024 | 19 SCENARIO 1A: SELF-PARK WITH CONNECTION TO METLOX PARKING Should a structure with subterranean level(s) be
constructed, it could be conducive to add subterranean
connection to Metlox
Would likely want a bi-directional vehicular connection as well as pedestrian pathway
Potentially 25’+ wide connection
Could enhance utilization of Metlox parking garage and help balance loads between the two facilities
Likely a “cut & cover” / trenching construction process Preliminary order of magnitude cost estimate of a few million to add a small linkage as part of other
subterranean work (absent need for utility relocation)
There is a storm drain line, and may be other utilities in Morningside Drive right of way
(Metlox 2
nd
subterranean level)
Side View at Metlox
Possible expansion
of subterranean
footprint
Possible
subterranean
connection to
Metlox garage
MANHATTAN BEACH LOT 3 ANALYSIS | DECEMBER 9, 2024 | 20 SCENARIO 1B: SELF-PARK WITH ADDITIONAL AMENITIES
If possible to reduce total replacement parking, or
provide replacement parking via subterranean option, it may be accretive to add a commercial (or public)
amenity on the site
Best location may be fronting Morningside Drive
However, such use would constrain already confined
parking configuration
Requires further study if a desired alternative
Commercial rents for restaurant, retail, and second floor office are strong
Placeholder rents of $100 NNN ground floor and $80 MG 2nd floor yield and average of ~$60–90 per square foot net These net rent amounts could yield on the order of $850 – $1,300 per square foot in financing capacity
Possible 1
st
/ 2
nd
floor
commercial amenity
MANHATTAN BEACH LOT 3 ANALYSIS | DECEMBER 9, 2024 | 21 SCENARIO 1B: SELF-PARK WITH ADDITIONAL AMENITIES
It could cost City $600 – 1,000 per square foot to construct, but some potential net financial benefit from adding commercial space
Alternatively, City could ground lease to a private developer to build out commercial amenity Under either model, adding commercial component expected to support financing costs (of commercial buildout and/or subterranean parking if required) and be at least marginally accretive Additional retail / restaurant space would also generate sales tax for City If City considers new self-park garage with subterranean stalls, it could conceptually replace a third-floor deck with commercial and/or public use without reducing prior Lot 3 capacity Would have to work within 26’ height limit
Economics appear to support some commercial use of top floor, but less accretive than street frontage opportunity
Could readily cost the City $800 - $1,000 per square foot for buildout of City / public use if desired Ultimately an urban planning exercise and financial decision based on desired use of site MANHATTAN BEACH LOT 3 ANALYSIS | DECEMBER 9, 2024 | 22 SCENARIO 2 - AUTOMATED GARAGE
Valet like experience
Can reduce time to park and vehicular emissions while looking for parking / exiting structure Can greatly reduce massing required for a given number of parking stalls Eliminates majority of circulation area of typical structure Deck to deck / floor to floor height can be reduced
Allows for substantial flexibility in layout / configurations Cost per stall can be same or (often) less than self-park structure Can readily be integrated with EV charging systems
Systems designed to provide redundancy, backup power, advance notice of maintenance needs, 99.9% uptime
However, some systems not able to accommodate all vehicle types (e.g., low or large) MANHATTAN BEACH LOT 3 ANALYSIS | DECEMBER 9, 2024 | 23 SCENARIO 2 – AUTOMATEDGARAGE
A variety of different providers / systems
available
Systems without proprietary technology
preferred (e.g., desire use of “off the
shelf” components)
Existing structures in the area
UCLA Health Santa Monica – 242
stalls, 2021
Helms Bakery – 247 stalls, 2017
WeHo City Hall – 200 stalls, 2015
Still novel, requires due diligence
M & O questions based on proximity to
ocean
Source: LPA, RMA Photography Inc., Stefano Ukmar, Utron MANHATTAN BEACH LOT 3 ANALYSIS | DECEMBER 9, 2024 | 24 SCENARIO 2A: AUTOMATED GARAGE WITHCONNECTION TO METLOX Could add an access point to
automated garage from bottom level
of Metlox garage
Could conceptually require smaller
corridor than providing subterranean
access to self-park drivers
Likely constructed via “cut and cover”
Could enhance Metlox parking
operations / provide overflow capacity
Ability for user to use any access point
to park or retrieve car
Possible larger footprint for two
subterranean levels
(Metlox 2
nd
subterranean level)
Source: Utron, Kosmont
MANHATTAN BEACH LOT 3 ANALYSIS | DECEMBER 9, 2024 | 25 SCENARIO 2B - AUTOMATED GARAGE WITH ADDITIONAL AMENITIES Automated garage with three levels above
grade, one or two levels below
Up to ~8,500 SF two story commercial
Could include 2nd floor patio over
commercial in-lieu of some enclosed area
~140 / 200 stalls with one or two levels of
subterranean
Restore / expand sidewalk at grade
Expanded
subterranean
footprint
Restore alley & eliminate overhang
Commercial
frontage
MANHATTAN BEACH LOT 3 ANALYSIS | DECEMBER 9, 2024 | 26 SCENARIO 2A/B - AUTOMATED GARAGE WITHAMENITIES AND METLOX CONNECTION Development
Opportunity
~50’
Sample 1
st
Floor
Sample Subterranean
and 2
nd
+ Floor
90’
Could reopen Crest Drive for
pedestrian circulation if desired
Possible larger footprint for
subterranean and/or 2
nd
+ floor
Possible subterranean car
conveyor connection to
Metlox garage
In
In
Out
Source: Utron, Kosmont
MANHATTAN BEACH LOT 3 ANALYSIS | DECEMBER 9, 2024 | 27 SCENARIO 2 - AUTOMATED GARAGE
Could reopen Crest Drive alleyway if desired / would provide pedestrian access around automated structure that would otherwise may be eliminated Potential to eliminate alley, 12th Street, and Morningside Drive overhang Opportunity to add commercial amenity on Morningside Drive Opportunity to add rooftop amenity above structure and/or commercial amenity Can readily incorporate different footprints on different levels (e.g., subterranean and/or 2nd+ Floors)
Can reduce height per parking deck to ~8’ (versus ~10’+ floor to floor for self-park structure) Grade + one deck above ground level = ~18’
Grade + two decks above ground level = ~26’ (height limit for Lot 3 site) MANHATTAN BEACH LOT 3 ANALYSIS | DECEMBER 9, 2024 | 28 Provides ~140 / 200 parking stalls if one / two levels subterranean garage Enhances pedestrian access and feel by expanding sidewalk, restoring Crest Drive, and removing overhang from alley
Potential for 2nd / 3rd level of garage to be setback a few feet on 12th street for preferred massing
Provides opportunity for ~8,500+ square feet of restaurant / retail / patio / office amenities fronting Morningside Drive
Potential to reduce portions of or entire 3rd level of above grade parking to expand commercial / patio opportunities on top of parking garage Completely eliminating 3rd level would reduce parking capacity by ~30 stalls to ~110 / 170 stalls Would increase potential commercial / patio footprint by ~8,500 square feet Potential for view opportunities from top level
SCENARIO 2A/B - AUTOMATED GARAGE WITHAMENITIES AND METLOX CONNECTION MANHATTAN BEACH LOT 3 ANALYSIS | DECEMBER 9, 2024 | 29 Preliminary pricing suggests costs on the order of $60,000 per stall Cost ultimate depends on system type, construction material, stall count, façade quality, surface versus subterranean count, etc.
T otal cost on the order of ~$8.4 MM for 140 stalls, ~$12 MM for 200 stalls Represents approximately $500 / $700k per year if financed Ongoing operating costs vary, preliminary information suggests ~$500 - $1,000 per stall is a reasonable placeholder ($70k - 140k for 140 stalls / $100k - $200k for 200 stalls) Ability to add commercial amenity could help offset higher operating costs (relative to self-park option)
Potential for on the order of $30k+ per year if a ground lease, plus $40k+ per year in sales tax revenue SCENARIO 2A/B - AUTOMATED GARAGE WITHAMENITIES AND METLOX CONNECTION MANHATTAN BEACH LOT 3 ANALYSIS | DECEMBER 9, 2024 | 30 SCENARIO 3. HOTEL & ADDITIONAL OFF-SITE PARKING
Instead of replacing parking, one alternative considered was to construct a hotel on the site The developable area was assumed to be constrained to the lot area, excluding the vacated alley (90’x 150’ = 13,500 SF)
Given height limitations (26’) it is expected that such use would likely be developed with two stories over a level of semi-subterranean parking (sufficient to park the hotel) Assuming a moderately tight allowance of 700 square feet per room / key, a total of approximately 35 rooms and limited other amenities could conceptually be developed on site Estimated that such a program could support ground rent on the order of approximately $250,000 per year, plus approximately $500,000 per year in Transient Occupancy Tax (“TOT”) revenue
MANHATTAN BEACH LOT 3 ANALYSIS | DECEMBER 9, 2024 | 31 SCENARIO 3. HOTEL & ADDITIONAL OFF-SITE PARKING
Of the various potential commercial uses, it is anticipated that the development of a hotel on the site would yield the greatest revenue to the City
If the development of public parking were also desired as part of this scenario, it is anticipated that such parking would have to be constructed in a subterranean garage An automated garage is likely the most appropriate for a mixed development scenario (e.g., hotel and parking)
MANHATTAN BEACH LOT 3 ANALYSIS | DECEMBER 9, 2024 | 32
4. SHARED USE / PUBLIC PARKING ON ALTERNATIVE SITES
Area properties were conceptually reviewed for
potential shared use and/or public parking
opportunities
Review of the Von’s and US Bank sites (east of the
intersection of Manhattan Beach Boulevard and
Morningside Drive) is a concept-only presentation
Combined site is large, underutilized, and reasonably close to existing Lot 3
Site likely presents an opportunity in future if overall site redeveloped
Opportunity for commercial frontage on Manhattan
Beach Boulevard, and structured public / private
parking behind
Further review of conceptual opportunities might
consider full block alternatives
MANHATTAN BEACH LOT 3 ANALYSIS | DECEMBER 9, 2024 | 33
4. SHARED USE / PUBLIC PARKING ON ALTERNATIVE SITES
Bank of America and adjacent building may be secondary opportunity (north of the intersection of Highland Avenue and 12
th Street)
Site is proximate to existing Lot 3 and similar in size Site is constrained, but may present an opportunity in future of property redeveloped
Lot 3 likely a more appropriate location for parking use (Highland Avenue frontage is more valuable than Lot 3 location), but subterranean or alley parking may present opportunity Overall, Lot 3 is a good location for parking amenity Lot 2 also has heavy utilization
Conceptually, addition of proximate propertieswould yield efficiency gains
City can consider additional opportunities / sites should they arise
MANHATTAN BEACH LOT 3 ANALYSIS | DECEMBER 9, 2024 | 34
SUMMARY OF FINDINGS
Scenario 1 – New Self-Park Garage: Replace existing Lot 3 structure Straightforward, most conservative, reliable, and possibly quickest solution Would likely result in reduced parking capacity unless additional height or subterranean level added Possible, but costly to add subterranean levels and connection to Metlox Difficult to add any additional commercial amenities on site Scenario 2 – Automated Garage
Requires commercially viable and reliable system that can operate near marine environment Provides opportunities for additional commercial amenities and connection to Metlox Could readily increase parking stall count / capacity (200+ stalls) Similar economics / funding as self-park garage unless demand for additional stalls Would require due diligence as to weather / salt air impact to reliability MANHATTAN BEACH LOT 3 ANALYSIS | DECEMBER 9, 2024 | 35
SUMMARY OF FINDINGS
Scenario 3 – Hotel Reuse on Site
On the order of $750k per year (initially) in estimated revenues to City Potential to add subterranean parking below hotel use If no public parking provided, could need to replace existing / lost parking elsewhere If provided in subterranean garage, could create complicated long-term operating / maintenance conflicts (hotel vs. public parking)
Scenario 4 - Public Parking on Alternative Sites
Monitor area properties for acquisition opportunities as appropriate (e.g., US Bank site) Consider investment in shared parking opportunities if larger sites are redeveloped (e.g., Von's site, with or without the U.S. Bank Site)
MANHATTAN BEACH LOT 3 ANALYSIS | DECEMBER 9, 2024 | 36
PRELIMINARY FINDINGS
There is likely a need to replace parking capacity (145 stalls) previously provided by Lot 3 Surface parking the Lot 3 Site will provide about 50% of the parking capacity of the former structure
If an automated parking structure is acceptable, the Lot 3 site has sufficient footprint to support the same amount of parking, plus additional uses, or an increase in total parking capacity
If a self-parked structure is desired, there will likely be a need to develop a partially subterranean structure to replace the prior parking capacity (due to height limitations and circulation constraints
T o the extent a subterranean structure is developed, City may desire to expand the subterranean footprint for parking and consider the viability of developing an amenity above Lot 3 site (e.g., hotel, restaurant, retail, etc.)
MANHATTAN BEACH LOT 3 ANALYSIS | DECEMBER 9, 2024 | 37
NEXT STEPS
Determine preferred long-term approach
Self-park structure vs. automated garage vs. reuse of site Complete additional due diligence on automated garage options if appropriate Consider desire for commercial amenity and/or hotel
Review possible connection points to Metlox and utility of same Ongoing exploration of off-site parking locations / sites as may be advantageous If self-park preferred, work with design firm to evaluate potential configuration Prepare refined cost estimates for preferred alternative(s)
MANHATTAN BEACH LOT 3 ANALYSIS | DECEMBER 9, 2024 | 38 APPENDIX: HYPOTHETICAL SAMPLE PARKING DECK <90’ WIDTH
34 Stalls
Source: Nitterhouse Concrete Products, Kosmont
MANHATTAN BEACH LOT 3 ANALYSIS | DECEMBER 9, 2024 | 39 APPENDIX: UTILIZATION SURVEYS
Source: City of Manhattan Beach
MANHATTAN BEACH LOT 3 ANALYSIS | DECEMBER 9, 2024 | 40 APPENDIX: REVENUE IMPACTS FROM LOT 3 CLOSURE
Source: City of Manhattan Beach