TimHaahs’ Parking Database is a great resource for all of your parking-related questions. With information related to planning, studies, design, construction, and operations and management, the Parking Database provides a wide variety of information related to parking planning, design, and management.
TimHaahs’ parking specialists understand the many complex issues related to parking planning, design, and management. We have combined our research and first-hand knowledge of many of these issues into this valuable tool.
Check out the TimHaahs Parking Database today – https://www.timhaahs.com/parkingdatabase/.
Here is this week’s question:
What is the value of a parking space?
There are several ways to value a parking space. Depending on the project type, location, and users, the value of a parking space depends on a number of factors:
- Current and future parking adequacy vs. supply and demand
- Availability of real estate
- Land acquisition costs
- Market costs for constructing surface or structured parking
- Development and revitalization of the area
- Using parking as a catalyst for development
- Sharing parking between land uses and “rightsizing” parking supply
For example, in an area with a large parking supply and plenty of land available, one would value the parking space based on the amount of market revenue that it can generate. However, if the parking supply is low, and the campus, neighborhood, or development does not have a large amount of unused land, the cost could be valued based either on its revenue-generating ability, or on the cost to build structured parking.