It is estimated that an underground parking space in New York City costs between $30,000 and $50,000. Even at the lower estimate, that’s $50 million dollars that the developer plans to spend building underground parking. What if instead of providing so much parking, the developer only built half of the parking and diverted the rest of the money to improving transit service? What about an express bus service during peak hours from the development to, say, Union Square? Radical thinking, perhaps, but without innovative solutions, New York City’s growth will stagnate.
Shuttle buses and water taxis are not the answer. The former just make it more efficient to bring the overcrowding to the subway, while the latter will peel off at best 75 to 150 passengers per hour in good weather (and the City has said it won’t be built at the Domino site anyway).
(And for the record, New Domino’s reps estimated the average cost per space at $50k, so the total cost of their structured parking is more like $85 million.)