Some statistics on Suburban Parking
There are few things more frustrating than looking for a parking spot in a crowded lot or on busy downtown streets. But that frustration is just the tip of the inefficient iceberg. Consider the following statistics:
- A parking garage costs, on average, $18,599 per parking spot to build. (1)
- Cars are parked roughly 95% of their working lives
- Drivers searching for parking are estimated to account for 30%-40% of traffic congestion in downtown areas.
- Driving around searching for parking accounts for 366,000 excess vehicle miles traveled and produces 325 tons of CO2 annually.
- Commuter permit waitlists in many suburban NJ and NY towns exceed 3 years in length, despite ease of commute consistently being ranked as one of the top considerations for people moving from urban to suburban areas.
The above facts combine to tell a powerful story about just how expensive and inefficient parking, especially in suburban areas. They become even more relevant when one considers the impact, in the not-too-distant-future, of ride sharing and self-driving cars.
As these technologies become more prevalent, experts predict that they will make many of today’s heavily utilized parking garages obsolete. Our company, by unlocking excess parking supply on private property, can help towns bridge the gap to a driverless future without building a parking garage that takes up valuable downtown real estate and has the potential to prove unnecessary in the near future.
We do this by working with local businesses, residents, and organizations whose property has excess parking. We take that excess parking, list it in our database, and compile all that information into an easy-to-use app that allows consumers to book daily parking near town centers.