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<br />is a small percent, 210 out of the 1,900 units of new residential units the market study identified; <br />there is a small market in The Loop for that development type. Regarding the issue of condos vs. <br />parking, he stated that they see those two things happening together and would not recommend <br />that the City invest in construction of a parking garage to attract condo development. He stated <br />that the Plan is making a recommendation on a potential development market and this type of <br />condo development requires <br />He stated that by expanding that proposed parking structure, you could account for the need for <br />increased public parking and you could finance a large portion of the parking structure for the <br /> it is not something that has to happen. <br /> <br />Mr. Lai stated that it was refreshing to hear that the consultant for the market study, by saying <br />they could look at different markets in the St. Louis metro area, that The Loop is a niche market, <br />and only some pockets in the metro area that people and consumers are looking for and this is <br />one of those areas; they recognize the national economy, but in the market study they state this <br />could be something in the future, people who may want to be within walking distance of The <br />Loop. <br /> <br />Ms. Lewis stated that was the concern she had. She stated that we looked at the fire station and it <br />was close to high-end condos and those people stated they did not want to be around a bunch of <br />She stated she thinks the area north of Olive would be a better area and the homes are not all <br />taken care of and they are small; that is prime real estate for that vision and it is still within <br />walking distance of The Loop. <br /> <br />Mr. Breihan stated that the Kingsland Walk development is already being proposed as well as <br />other residential types being proposed in that area. He stated they would be more affordable than <br />what the market study indicated for the north parking lot. He stated that in terms of property <br />available and need for development; the area north of Olive is a prime area as well. <br /> <br />Mr. Senturia asked Mr. Breihan about sufficiency of parking and if the consultants did any <br />studies on sufficiency of parking. <br /> <br />Mr. Breihan stated they did not do a day-to-day parking analysis. He stated that as residents of <br />the St. Louis area and visiting The Loop for various reasons, they recognized there were times <br />when it was difficult to find a space and times when it was relatively easy. He stated that the <br />general recommendations in terms of numbers are attempting to correlate to that and, from a <br />ratio standpoint, they would be providing twice as much parking. He stated that hopefully those <br />concerns would be able to be resolved; going out and counting was not part of the process. <br /> <br />Mr. Senturia asked if, in terms of configuration around the parking lot, the consultants looked at <br />alternatives for configuration to get the desired density. <br /> <br />Mr. Breihan stated they did. He stated they looked at a tower. He stated that what was currently <br />shown is a liner building with a parking structure in the middle, a single-loaded building that <br />surrounds three sides of the property with a parking garage in the center. He stated they looked <br />tm; <br /> šE <br /> <br /> <br /> <br />