The formula to calculate the Parking Ratio (PR) is:
\[ PR = \frac{RSQF}{PS} \]
Where:
A parking ratio is defined as the total ratio of the rentable square footage of a building to the total number of parking spots of that building. Typically, this ratio is reduced to parking spots per 1,000 square feet. For example, a ratio of 10,000/1 would be reduced to a ratio of 10:1.
Let's assume the following values:
Using the formula to calculate the Parking Ratio:
\[ PR = \frac{50000}{250} = 200 \text{ sq ft per spot} \]
Reduced Parking Ratio:
\[ \frac{200}{1000} = 0.2 \text{ spots per 1,000 sq ft} \]
The Parking Ratio is 200 sq ft per spot, or 0.2 spots per 1,000 sq ft.