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Puzzle Lift Parking

February 9, 2021

How Automated Parking Helps Increase Profit-per-Square-Foot by 5X

 For years, developers and architects planning exciting new projects often paid little attention to parking requirements. Parking facilities traditionally have been regarded as inefficient, expensive and a poor use of valuable land. Parking was simply a necessary expense, and a challenge to profitable projects. building Worse yet, the inability to meet parking requirements, has sidelined many projects permanently. Automated parking has the potential to change all that.

 The limitations of traditional parking underscore why developers and architects should consider automated parking options for all current and future projects.  We are true believers that parking models that worked in the past, including surface lots and traditional parking structures, are already obsolete in many areas.  How could this be?

 Global trend towards urbanization will continue. More than 4 billion people now live in urban areas, and it’s estimated that number will reach 7 billion by 2050, according to United Nations estimates.

 That means valuable land will only become more valuable, as city centers expand outward and population density increases. We’re already seeing this in vibrant, fast-growing cities like Austin, Nashville, and Salt Lake City. The same is true with larger metros including Miami, Seattle, and Denver.

 How can automated parking boost ROI?

The rule in any project that includes parking is that living space is more important – and much more profitable – than parking space.

 So, our objective is to shrink the parking footprint as much as possible – without compromising the parking experience for tenants or visitors – to free up space for income-producing assets.

 In some cases, developers will choose to use space savings to add attractive project amenities that are desirable to homebuyers, renters, or shoppers. Let’s explore your profit potential with a simple example of a planned residential project. You can watch the video below, or scroll down to see the steps to 5X profits!

Most CityLift installs are in multifamily projects using our Puzzle Parking Lift systems. Let’s compare the space savings, and bottom-line profit potential of replacing a traditional parking solution with a state-of-the-art puzzle parking system for a residential application:

Free Up Space With Automated Parking Chart by CityLift

Now comes the exciting part. Let’s take a look at the potential to increase parking revenue, and the opportunity to increase profits on parking space that’s been repurposed for living space:

Turn extra parking space into profit CityLift

By turning parking space into living space, it’s possible to achieve dramatic returns. Again, savings vary depending on project specifics – but space savings from automated parking enables you to create additional apartment units within your project’s current space requirements. Contact us to learn how to turn extra space into ROI. In our example, one extra space is created, but we have had many clients who were able to add multiple units to multiply their profits!

  • Space savings will depend on land values and specific project plans and requirements. Densely populated areas with higher property prices will yield the greatest ROI.
  • Automated parking offers a more versatile and scalable solution for future needs at a price that’s typically comparable to conventional parking.  
  • Any additional investments in living space that was allocated to parking is “found money” that previously wasn’t in your project plan.

Bottom Line: 5X more profit per square foot for your project

 In addition to the bottom-line ROI, there are several advantages to using automated Puzzle Lift Parking rather than conventional parking in residential projects, including:

  •  Puzzle Lift Parking is a proven technology that has been in use for more than 25 years, and more than 70,000 automated parking spaces have been installed globally.
  • Proven versatility and adaptability to individual projects. Puzzle Lifts can be built up to seven levels, with or without tandem configurations & pits to accommodate below-grade parking.
  • Available built-in electric vehicle (EV) charging solutions. Charging solutions can be customized to fit your project’s current and future needs.
  • Finally, automated parking can provide a faster, more convenient, and secure parking experience for tenants. Cars parked on a lift are secure and safe from damage. Puzzle systems provide independent access for tenants using their mobile phone to park and retrieve their vehicle.
  • No valet required. Some of our clients use their space savings for additional units, and some have added attractive amenities, including a basketball court, additional storage, and fitness facilities.
Puzzle Lift Parking Options by CityLift

How you use your free space is up to you. You can learn more about CityLift Puzzle LiftTM systems and puzzle parking and other custom parking solutions at our website or check out the videos at CityLift’s YouTube Channel.

To get started with your own Puzzle Lift Parking project, contact a CityLift Smart Parking Concierge today. You can also check out our previous post, Parking Doesn’t Need to be a Puzzle – but Maybe it Should Be.

 In some cases, developers will choose to use space savings to add attractive project amenities that are desirable to homebuyers, renters, or shoppers. Let’s explore your profit potential with a simple example of a planned residential project.

Most CityLift installs are in multifamily projects using our Puzzle Parking Lift systems. Let’s compare the space savings, and bottom-line profit potential of replacing a traditional parking solution with a state-of-the-art puzzle parking system for a residential application:

In some cases, developers will choose to use space savings to add attractive project amenities that are desirable to homebuyers, renters, or shoppers. Let’s explore your profit potential with a simple example of a planned residential project.

You can learn more about CityLift Puzzle LiftTM systems and puzzle parking and other custom parking solutions at our website, or check out the videos at CityLift’s YouTube Channel.

To get started with your own Puzzle Lift Parking project, contact a CityLift Smart Parking Concierge today.

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