Gainsville, FL has built a downtown garage and now it seems the garage isn’t generating enough money to keep the garage in the black. Read about it here. Now remember, the loss is in operating expenses. The deal assumes the garage cost nothing to build.
They think the garage will catch hold as the downtown grows, a condo is built next door, and people get used to parking inside (they seem to prefer parking on the street.)
Here’s what I think — all they need to do is raise the price of on street parking to the point it is above the price in the garage and the sucker will be full. Now, it may never pay off its true cost, but that’s a problem with which city governments don’t seem to concern themselves. However, it will come much closer to paying its operating costs.
People will learn quickly to park in the garage when they find out that it costs much less than parking on street.
By the way, take the time to click on the link above — its really a good looking facility.
J
