The Toronto Parking Authority voted last month to raise half-hourly and monthly rates at some of the city’s busiest publicly-owned lots.
The fee increases, which affect 50 different lots, will come into effect between Aug. 17 and the beginning of October, and will apply to certain Green P parking lots, but not metered on-street parking spots.
The Parking Authority says rate hikes are based on demand and will vary throughout the city.
“This is normal course of business. We review the rates at our lots every six months and look at utilization rates and the last time lots have been increased,” TPA president Lorne Persiko told CP24 on Wednesday afternoon.
“We are still the most affordable lots in the city.”
Persiko told CP24 that the cost of parking at some lots was increased to keep up with inflation while the cost at other lots was hiked to reduce monthly demand and create more availability for visitor parking.
At the Green P lot underneath Nathan Phillips Square, the half-hour rate and monthly rates are going up on Sept. 8. Signs will be posted at parking meters inside affected lots.
