Implications of Changing Dynamics for Metered On-Street Parking

The parking industry has seen significant changes over the past decade with the infusion of new technology and smart assets. The introduction of networked meters, virtual payment methods (such as pay-by-cell and credit–debit cards at meters), and technology for real-time detection of space occupancy has resulted in better system uptime, proactive maintenance strategies, multiple payment options, real-time information on parking availability, and better use of spaces through dynamic congestion pricing. The new parking assets and payment options have implications for municipalities and vendors supporting their parking programs. Instead of a significant portion of revenue from coins, virtual transactions account for a predominant share of the parking revenue stream. Focusing on Washington, D.C., as a case study, this paper discusses the economic implications of the changes in the context of overall parking revenue and the cost of different revenue streams for parking. The paper also discusses the impact of these changes on program management (such as maintenance, personnel, and contracting models) and program outcomes (such as customer satisfaction and continued innovation). The paper provides agencies with a framework for taking a holistic look at their parking programs and assessing the impacts of various alternative, cost-effective approaches.