ITEM NO.

_7a_Supp________

DATE OF
MEETING:

Oct 11, 2011_____

City of SeaTac Park & Fly Program
Potential Impacts on
Seattle-Tacoma International Airport

City Center Zoning Code Revisions
• Ad Hoc Committee (AHC)
- Council requested AHC review of City Center Parking
Program
- 11 members including business reps, citizens and 2
Councilmembers
- Identified two options for consideration by Planning
Commission and City Council

• Recommendations Not Yet Reviewed

City Center Zoning Code Revisions
• Proposed Model #2
- Could result in as many as 7,000 stalls
- Possible use of Sound Transit bridge for pedestrian
access to Airport

• Recent Garage Development Under Existing Code
- Wally Park:
- Master Park:

1,595 stalls
1,061 stalls

City Center

Park & Fly Trends/Projections
Total market stalls - projected supply & demand
Parking stalls

40,000

35,000

30,000

25,000

20,000

Historic supply

15,000

Supply incl. airport garage 1st/2nd floors, plus stalls under construction, plus 7,000
Supply incl. airport garage 1st/2nd floors, plus stalls under construction

10,000

Historic demand
Demand assuming historic high parking to passenger ratio

5,000

0
2007

Demand assuming year 2010 parking to passenger ratio

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

Park & Fly Trends
14

1.8
Airport O&D
enplanements

12

1.6

Millions

Millions

Annual O&D enplanements and
parking demand

1.4
Long-term parking
demand (estimated
market-wide)

8

1.2
1.0
0.8

6

0.6
4
0.4
2

0
2002

0.2

2003

2004

2005

2006

2007

2008

2009

0.0
2010

Parking transactions

O&D enplanements

10

Potential Revenue Loss
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%

Potential revenue
loss (low end)

Potential revenue
loss (high end)

Non-aeronautical
income after debt
service

Potential Impacts to Airport
• Estimated 7,000 new stalls with pedestrian bridge
access to Airport
• Direct competition to Airport garage = $5M to
$11M annual impact on airport revenues

• Reduction in Airport's ability to fund critical
projects and community amenities