3 Enormous Benefits to Charging the Right Price for Parking

2 Apr

See on Scoop.itCommunity Revitalization for Districts and Downtowns

“Costanza’s universal theory of parking states that drivers should never pay for a spot because, if they apply themselves, they’ll get it for free. Most U.S. cities do everything they can to abide the theory. They undervalue the price of street spaces. They keep parking so cheap it encourages driving (and thus undermines their own transit investments, leading to more driving). And they require a minimum number of parking spaces for new developments whether residents need them or not.

These policies conspire to create a situation in which even someone as lazy as George Costanza can eventually find a free — or, at least, very cheap — parking space in the city. But what’s thrilling for Georgie Boy (assuming no one steals his space by pulling in head first) is bad for the city as a whole.”

Heather Garbo‘s insight:

“We have a parking problem” is a common refrain we hear in many communities. But, we occasionally hear, “We wish we had a parking problem!” These studies suggest the latter is the right attitude: a “parking problem” may be better viewed as an opportunity. Determining the right price for your city’s parking can have major benefits: less driving and parking congestion, the embracing of other modes of transportation, and even greater tax revenues.

 

All that plus a Seinfeld reference.

See on www.theatlanticcities.com

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