Residents of the San Francisco Parkmerced apartments may be able to tap into $100 worth of transportation money for being environmentally friendly says Fast Company writer Adele Peters. Maximus Real Estate Partners, the developer of Parkmerced, wants to create a car-free living environment in the city, and so has partnered with Uber and Clipper, the local transit card for buses and trains, to provide tenants with $100 of transportation credit per month. The program will also give a flat-rate $5 UberPool rate from the apartments to nearby public transit stations.
The apartment complex has 3,200 units and houses more than 10,000 residents, and plans to expand to around 9,000 apartments. With so many residents and traffic already a problem in the area, the developers wanted to find a way to encourage residents to choose alternatives to cars.
They expect to eventually get a financial return on the investment; one way that might happen is that they may not have to offer as many parking spaces. To help with their plan for car-free living, they hope to eventually also offer bike sharing and hourly car rentals. "I think what we're really trying to do is create a comprehensive alternative to private car ownership and really incentivize multimodal transportation—grounded in the real world, not in a fairy-tale land," says Rob Rosania, founder of Maximus Real Estate Partners.