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onamiento* (The transient turn on the space, adjusted for monthly


vehicles, is three to four turns a day, depending on the day of the week. During the Christmas season, the space turnover increases to almost six times a day.) The parking operation at Centro Santa Fe is an all-cash


collection business, as credit cards are not accepted at this time.About 30%of the cash collection is in coin; the task of moving this amount of coin daily is better than a workout at the gym! The logistics of simply collecting the money from the individual cashier booths, transporting it to the parking office, counting and banding the money, and then transport- ing the cash to the bank is understandably a closely guarded secret, but I understand that many days there are in excess of 20 bank deposits. Think of the task of reconciling that bank statement at the end of themonth! At peak times of the day, the parking facility’s PARCS is


processingmore than 400 transactions aminute between tick- ets being issued,monthly card dips, and cash register transac- tions.With 6.4 million tickets and the amount of cash collec- tions, even PT the Auditor and her entire litter would have their work cut out for themat this facility. By November 2009, an estimated 200,000 square feet of


retail space will be added, along with an ice-skating rink to complement the existing golf driving range, health club and 16-screen movie theater. This will bring the shopping center to about 400 tenants. The developers also are adding a 30-story office building


and two hotels, which will come online in late 2010 and early 2011.And the piece de resistance (at least for us parking afi- cionados) is 4,200 parking spaceswill be added to address the needs of this development. The addition of 2.2 acres of land to the project willmean


five more entrances and 12 exit lanes, for a total of 18 entrances and 28 exits for 9,500 parking spaces.With 46 lanes of traffic, add in 35 or 40 pay-on-foot machines within the mall – now that is impressive!Adding hotel and commercial office parking into the shopping centermixmakes this devel- opment a world-class facility, and parking is at the very core of it.


We don’t knowwhat the final traffic volume at full build-


out and occupancy will be, but 27,000 to 32,000 transient tickets and 4,000 monthlies a day is within expectations on average days, and at Christmas time, a 50,000-ticket day is certainly within reach. Now you are talking about serious parking and a lot of pesos! Other than the SMMegamall in Ortigas Center, a suburb


of Manila, Philippines, I do not know of any other shop- ping center with paid parking and this level of sustained parking volume.


Dennis Cunning is an auditor and consultant. He can be reached at dlc_park@is.netcom.com.


For more information on this project, log on to www.centrosantafe.com.mx. Or contact Jesus Garcia at jsgarcia@centrosantafe.com.


PT


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