Early morning parking spots on R Street NW.
Ever drive around for hours (seemingly) looking for a parking space downtown? That could soon change…but at a price.
The DC Council’s Committee on the Environment, Public Works and Transportation approved a plan on Thursday to expand “performance parking”, a strategy that could lead to much higher parking rates during peak times, reported The Examiner this morning.
Performance parking, already in place in Wards 1 and 6, attempts to do a better job of matching rates to demand, free market-style. On busy nights when everyone wants a space downtown or near the action, rates are hiked up. For example, on H Street, where the program is already in place, rates triple to $2 per hour at night as compared to their daytime rate, according to The Examiner. The increased fare will presumably lower demand, making it easier for those who really want/need them to find spaces.
Of course, DC acknowledges that in addition to balancing out demand, the program will bring in a rewarding side benefit: Mayor Gray predicts that the expansion could raise about $3 million for the city, while Councilman Tommy Wells thinks that number could be as high as $10 million.
See other articles related to: performance parking
This article originally published at http://dc.urbanturf.com/articles/blog/dc_to_expand_performance_parking/5498
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