I love working in downtown London because I’m right in the heart of the city. There’s a great energy & atmosphere (especially in the summer), you’re within walking distance to restaurants, stores and entertainment venues.
That’s great, because parking downtown is a bit of a nightmare. It’s hard to find a spot where you want to go and it’s expensive. I spend $100/month (which is actually pretty good) to park at a surface parking lot a few blocks from the radio station.
I have to be honest, I was a little shocked when I came across this story on 980 CFPL’s website that said the City of London is looking into phasing out surface parking lots. I mean, how can less parking spots help the parking clear up the congestion (insert Alanis Morrisette’s “Ironic”).
Luckily I read more than the headline and found that there is a strategy and unique approach behind this idea, here are the highlights from the article:
- The planning and environment committee will meet on Monday at 3:30pm to discuss a report that recommends phasing out surface parking lots in favour of parking garages. The report suggests the city working with developers to include public parking in garages below new high-rise buildings.
- According to the report, 25% of all land used in the downtown core is by surface parking lots, where they could be replaced with business or residential buildings with underground parking garages.
- Parking in the downtown is at about 77% capacity and it’s estimated that the central part of the core will need 300 additional parking spots.
- There are 15,435 parking spots in the 49 lots in downtown London, with each spot bringing in $2,000-$3,000 per year…plus $500 from fines. The report estimates a 100 car surface parking lot could generate a profit of around $300,000.
- Staff say if the 10 high-rise developments that are currently in the zoning or construction phase were to include a parking garage, it would create an additional 1,500 spots.