Parking management affects the relative supply, price, and regulation of parking facilities within an area. Efficient parking management can reduce the parking supply needed, allowing an increase in land use intensity, mix of uses, wider sidewalks, and bike networks.
Potential strategies to support parking management:
- Adjust or reduce parking minimums to reflect specific community needs
- Set parking maximums
- Allow financial incentives such as parking cash-out
- Share parking
- Unbundle parking from development / building costs
- Create residential parking districts
- Provide short-term parking around stations
- Price on-street parking appropriately
- Reduce parking requirements for affordable housing
- Require and provide priority to vanpool, carpool and electric vehicle parking
- Increase the efficiency and capacity of parking areas
- Establish mechanisms to monitor parking demands over time and build parking based on demand
- Research shows that better parking management may reduce vehicle ownership and vehicle trips, while increasing transit use, walking, and biking. Parking pricing has been shown to reduce regional VMT by 1% to 2.8% depending on the price. More directly, studies have shown that a significant reduction in parking stall demand as parking charges increase (-0.12 to -1.01 elasticity) (Spears, Boarnet, and Handy, 2014).
- Residents in urban neighborhoods with more conventional parking requirements were 28% more likely to drive to work than neighborhoods with more constrained parking (Weinberger, et. al. 2008). Moving from free parking to cost-recovery parking may reduce automobile commuting 10-30% (Shoup, 2005).