Projected parking revenues delayed

Delays in the construction of university apartments in Westwood
will not cause UCLA Transportation Services to lose money, though
the department financed several multi-million dollar parking lots
below the buildings.

Renee Fortier, director of Transportation Services, said though
her office planned on receiving over $779,000 in additional revenue
from the lots this year, transportation’s final budget will
not be affected, as it does not need to begin paying off its debt
until building is over.

She also said this year’s delays will not result in any
changes in future parking availability and fees.

The parking lots below Weyburn Terrace, the new housing complex
for single graduate students on Veteran and Weyburn Avenues, will
have more than 1,280 spaces for the 1,387 residents who will be
living there when all units open.

Transportation Services paid just under $29.5 million for the
lots, with UCLA Housing purchasing the space where the lots are
located for roughly $4.5 million, Fortier said.

Each spot costs $210 per quarter, and permits allow residents to
park on campus after 4:30 p.m.

Many students living in Weyburn Terrace said the parking is too
expensive, since many graduate students depend on their cars to
commute to work.

“Graduate students have cars ““ they need
them,” said Jason Meltzer, who is studying computer science.
“It’s not as if there’s limited parking. …
There’s basically a space for every unit.”

Fortier said all revenue from the Weyburn Terrace lots will go
toward financing Transportation Services’ contribution to
construction costs, and that it will take about 30 years for her
department to repay the debt from Weyburn.

By Charlotte Hsu, Bruin senior staff.