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I take it you don't have any $5/hour parking meters where you live.
by CodeWriter23 10y ago
I take it you don't have any $5/hour parking meters where you live.
- unchocked 10y agoAnd what do you think market rent is for the commercial property across the sidewalk from the $5/hr parking spot?
- tedunangst 10y agoIf you don't want to pay $40 to park for 8 hours, park somewhere else. The whole point is to prevent people from parking there for that long.
- CodeWriter23 10y agoThe point of my comment was to reply to this part of the parent comment: "but in terms of the revenue raised per square foot it's one of the least profitable uses of real estate around". At $60/day earned by the city for a 172 sq ft parking space, that translates to about $10.50 per sq ft per month, rivaling most office buildings.
- cperciva 10y agoNot at all. The parking spot may earn $10.50 per square foot per month, but the office tower earns $10 or more per square foot per floor per month.