The price of parking in Green P spaces could soon increase, with the rates at some lots expected to shoot up by up to 50 per cent.
Most of the proposed increases, which still need to be approved by the Toronto Parking Authority, are in the 10 to 25 per cent range but the rates at some of the city’s more in-demand lots are set to rise by up to 50 per cent.
That means that drivers could soon be forking out anywhere from 25 cents to 50 more per half-hour period.
All told, the rate increases are expected to result in an additional $3.5 million in annual revenue for the Toronto Parking Authority but in a staff report the acting president of the agency stressed that the main reason for the hikes is to ensure the availability of short-term parking; not to boost revenue.
“The goal is, in effect, to establish pricing that ensures some parking spaces are always available for patron use,” Andrew Koropeski said in the report. “For any parking location, on-street or off-street, the level-of-service used for usage is 85 per cent. Anything greater than 85 per cent is considered at/over capacity.”
Dozens of the city’s 250 Green P lots will be affected by the proposed increases.
Some of the larger hikes seem to be clustered in the east end with lots at Danforth Avenue and Coxwell Road and Broadview Avenue north of the Danforth both expected to see 50 per cent increases (from $1 to $1.50 per half-hour).
Speaking with CTV News Toronto on Tuesday, the Toronto Parking Authority’s Vice President of Strategic Planning Ian Maher said that 2016 was one of the strongest years in recent memory when it came to the use of Green P lots.
He attributed some of the increase in business to a new app that makes it easier to pay for parking but said that most of it is the direct result of the city’s booming economy.
“That is really the core of what generates business for us, the city’s jobs and other entertainment activities. When the city prospers, our lots are busy,” he said.
Maher conceded that the rate increases may not be popular but said that the TPA has to “constantly adjust” its rates with the goal of ensuring that all Green P lots are busy “but not completely full.”
He said that the rate charged at most Green P lots will remain at or below the price of privately-operated lots in the same neighbourhood.
“We can’t please everybody,” he said.
The Toronto Parking Authority is expected to vote on the proposed increases at a meeting on Monday.
