4 ms·
Building a parking spot in a modern building can cost $20k, which is hard to recoup with parking revenue. If the break even target is 10 years with no interest
by owowow 6y ago
Building a parking spot in a modern building can cost $20k, which is hard to recoup with parking revenue.
If the break even target is 10 years with no interest accrued, we are talking about $5.47 a day in revenue needs to be generated (plus the overhead of managing the lot itself).
How many paid parking lots do you see that are full on a regular basis? Are they really generating revenue even half time?
- adrianN 6y agoSo you're arguing parking is way too cheap and we should make it more expensive. I think that's generally a consensus opinion among city planners.