London parking a bargain

A comparison shows London's rates rank with the least expensive in Canada.
JOE BELANGER, Free Press City Hall Reporter 2005-08-04 02:48:50



Their parking spots might not be where they want them, but London drivers have some of Canada's cheapest downtown parking, figures suggest.

"I've been saying that all along," said Janette MacDonald, manager of Main Street London. "I think Londoners just need an attitude change. To some, there's lot of parking and it's cheap, but to others, there is none because there's nothing free. We can't expect to get things free. We're not a burg or a hamlet. We're a major city and we have to pay."

In its fifth annual North America parking rate survey, real-estate services company Colliers International found parking rates had risen in most major cities for the second straight year.

London wasn't included in that study, but a recent informal survey shows reserved monthly parking can be had for as little as $20 a month, with a top price of $120.

That stands in sharp contrast to the rates turned up in the latest Colliers survey, which said rates for unreserved spots rose an average 2.4 per cent across Canada in the latest year, with the median price $170.53 a month.

The survey includes covered or underground garages in prime business districts.

Daily parking rates in London run between $4 and $11, with most lot operators offering the lower price.

Rates vary mostly by location. For instance, the closer you park to the intersection of Richmond Street and Queens Avenue, the higher the price.

By comparison, one-month reserving parking in Toronto now costs $285 to $460, compared with $247.50 to $361 in Montreal, $200 to $225 in Ottawa, $145 to $212.50 in Vancouver and up to $128 in Regina.

Nationwide, the median daily rate is $11.61, the report said.

The median price for a one-day parking spot in Ottawa is $17, Toronto $16, Montreal $14 and Vancouver $13.

Edmontonians can park for $8.50, while drivers in Saskatoon pay about $5.10.

Despite the lower cost, parking has become a serious issue in London. Downtown landlords complain there isn't enough close-proximity parking for older office towers built before parking became a high-rise requirement.

As a result, an estimated 26 per cent of the core area's 5.2-million square feet of office space is vacant.

In response, the city will soon hire a consultant to examine the issue with a final report expected in the fall.

The consultant will determine the need and try to identify potential sites for a garage with 500 to 1,000 spaces.

The consultant will also prepare a business case that considers the cost of construction, parking revenue and potential tax revenue if vacant office buildings were leased.

It's been argued that if more people lived and worked downtown, professional and service industries would follow, along with more retail, which could strain parking.

"This is the kind of early planning initiative you want to do before parking becomes a crisis," said Gerry Macartney, general manager of the London Chamber of Commerce.

Macartney applauded the city's initiative and acknowledged he's heard about the growing shortage of parking during working hours.

As for the low cost, Macartney wasn't surprised.

"I think London's parking rates are just about where they should be for our market and people should be satisfied," he said.





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