The Florham Park-based company Boomerang Systems Inc. that developed a fully-automated parking system announced Monday that it has executed an agreement to provide 240 parking spaces using the RoboticValet Parking System to be incorporated into a student housing project at the University of Illinois.
According to the announcement, the 16-story project is adjacent to the campus and is being developed as a joint venture between Chicago-based developers HERE Enterprises, LLC and Campus Acquisitions. Construction of the parking system has already started and is anticipated to be completed by 2015. Financial terms of the transaction were not disclosed.
The RoboticValet Parking System is a fully-integrated automated parking solution that incorporates robotics, software and hardware with technology that has long been used in warehouses and automobile manufacturing plants. Developers can now fulfill parking requirements by eliminating the need for ramps and travel lanes by using flat, low-lying robots to move vehicles to and from spaces inside their facilities, allowing twice the density of cars in half of the space that the typical parking garage has, the company said in a statement.