Today we take another look at how demand driven pricing for on-street parking spaces is proceeding in a number of large cities in the USA. Results indicate substantial increases in revenue (24-36%), along with increased availability of parking spaces when needed and general economic improvement for local business- as well as, incidentally, improved air quality as a result of less traffic circling the block looking for a space.
Key Quotes:
“These days, the emphasis is on making more efficient use of the existing parking supply” “Defying conventional wisdom that "Main Street" must have free parking to compete with shopping malls, these communities are finding that demand-responsive parking pricing can smooth out parking crunches, fix deficits, and help motorists find available parking more quickly”
"If a customer is having a good time in a restaurant, and they are happy to pay the market price for their parking spot, do we want them to wrap up their evening early because their time limit wasn't long enough? Do we want them to skip dessert or that last cappuccino in order to avoid a ticket?"
[before in Oak Park Illinois] “high-demand streets in the commercial district had an average occupancy rate of 91 percent, often peaking at 100 percent. At the time of the study, the price of parking ranged from 25 cents to 50 cents an hour for on-street and off-street lots, with fees collected from 8 a.m. to 6 p.m
[after in Oak Park] “the village board voted to create four tiered demand zones, increase rates to range from 50 cents to $1.50, and extend pricing until 8 p.m. All time limits were removed to let pricing drive the system.. the increased cost of street parking is "fantastic" for local businesses, and that they have "heard no complaints" from customers now that parking is always available at the curb... Overall parking revenues also have grown 37 percent; revenues in some months grew by 70 percent or more”
[San Francisco] “At all of the program's 7,000 on-street spaces (one-quarter of the city's total metered on-street spaces), located in eight pilot districts, new meters allow drivers to use coins, credit cards, or debit cards to pay for parking. Pay-by-phone technology is also available at all meters citywide. SFpark meters have longer time limits to allow longer stays for shopping.. showed a $6 million (35 percent) drop in revenue from parking fines along with a $5.2 million (24 percent) increase in meter revenue.”
Lessons learned:
- “Support downtown revitalization with a renewed focus on increasing availability of existing parking…
- Recognize that new garages won't get customers the front-door access they want..
- Use parking management as a tool to accommodate "low traffic" growth…
- Move away from a reliance on time limits and tickets, and motorists will pay more for more convenience…
- Acknowledge, as Chicago has, that parking may be more valuable than you think; and
- Use net parking proceeds to fund merchant priorities..”
Related articles
- New gadget could tell drivers where the nearest empty parking space is - and do away with traffic wardens FOREVER (dailymail.co.uk)
- Make money from your parking space (confused.com)
- Parking Panda Helps You Find, Rent & Rent Out Parking Spaces (mashable.com)
- How Does San Francisco Price On-Street Parking? (pollutionfree.wordpress.com)
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