Planning for Structured Parking

Smith, Mary S.

doi:10.1007/978-1-4615-1577-7_2

Cited by 2 publications

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“…To pay for itself, a parking structure must earn enough to cover the cost of constructing and maintaining the new spaces. Smith (2001) estimates that the capital-plusoperating cost per space for an unattended aboveground parking garage is at least $5 a day ($150 a month, or $1800 a year). 41 Structured spaces should therefore earn at least $5 a day to justify their cost.…”

Section: Revenue Per Curb Spacementioning

confidence: 99%

The Ideal Source of Local Public Revenue

Shoup¹

2017

The High Cost of Free Parking

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Free or underpriced curb parking creates a classic commons problem. Studies have found that between 8% and 74% of cars in congested traffic were cruising in search of curb parking, and that the average time to find a curb space ranged between 3 and 14 min. Cities can eliminate the economic incentive to cruise by charging market-clearing prices for curb parking spaces. Market-priced curb parking can yield between 5% and 8% of the total land rent in a city, and in some neighborhoods can yield more revenue than the property tax.

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Section: Revenue Per Curb Spacementioning

confidence: 99%