MCCORD AND BOSCH COLLABORATE AT GENERATION PARK

Smart City Parking Lot Sensors at Generation Park to Help Reduce Emissions, Collect Utilization Data for Future of Development

HOUSTON, January 21, 2021 – McCord, owner and developer of Houston’s 4,200 acre Generation Park, has collaborated with Bosch to implement solution-based Parking Lot Sensors (PLS) in McCord’s smart cities initiative to gain crucial parking data, reduce parking traffic, and create a greener community through the reduction of emissions. The PLS enables intelligent management of all digitally connected parking spaces including search, navigation and reservation of spaces.

“We’re excited to work together with the Bosch team. At McCord, one aspect of digital innovation is through forming to leveraging cutting-edge technologies like the Parking Lot Sensors,” said Vice President of Digital Innovation at McCord, Nick Cardwell, Ph.D. “With these sensors, we’ll quickly gain insight on utilization patterns within Redemption Square, which will ultimately guide our decisions for future developments, roadways, and parking at Generation Park.”

As the fourth largest city in the United States, Houston experiences its share of traffic jams, parking occupancy woes, and vehicle emissions. Bosch notes that close to 30% of inner-city traffic in large cities can be attributed to locating a parking space.  Therefore, related emissions can potentially be reduced as parking traffic is optimized.

“Through our collaboration with the McCord Team and their development, Generation Park, we have a very unique opportunity to impact next-generation traffic systems with the latest technology and data for a brand-new smart city,” said Drew Ferraro, General Manager – Americas of Bosch Connected Devices and Solutions. “We look forward to working with McCord on a smart and green solution to Generation Parktilizing our Parking Lot Sensors.”

Each PLS is equipped with a robust algorithm for occupancy detection, a magnetometer sensor and a radar sensor, independent of one another. Once a parking space is occupied, within 30 seconds, the space availability information is processed, allowing drivers to efficiently find the next available space.

The PLS are slated for installation within the mixed-use lifestyle district, Redemption Square, at the beginning of 2021. Generation Park will install sensors along Assay Street, Redemption Square Road, and in the Redemption Square Garage. Following installation, a joint 3-month study will be conducted between the two groups. McCord is the first privately held entity to install the Bosch Parking Lot Sensors within the United States.

For more information about McCord and to follow along in its smart city initiative, visit mccord.com.

About Generation Park

Generation Park, one of the world’s largest privately held commercial developments, is a master-planned business and lifestyle destination in Houston, Texas. Over a quarter the size of Manhattan and with convenient access to all major land, air and sea transportation corridors in Houston, Generation Park is driving the expansion of one of Houston fastest growing economic and residential centers, Lake Houston. Generation Park’s flagship entertainment and lifestyle destination, Redemption Square, is home to a growing collection of curated retailers, restaurants, and many future developments. For more information, please visit generationpark.com.

About McCord

McCord is a Houston-based opportunistic real estate company with a longstanding track record of creating substantial value through the acquisition, development, and management of office, industrial, land, single family, and multifamily assets. Since 1973, McCord has acquired or developed over $3 billion in successful projects across the United States. To learn more, visit mccord.com.