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Congestion Parking

Posted by: Nate Berg

12 July 2008 - 7:00am

New York City officials have announced a plan to raise parking meter rates in certain parts of the city during high traffic times.

"In what amounts to congestion pricing for parking spaces, parking meter rates would double during heavy traffic periods in portions of Manhattan and Brooklyn as part of an experimental city program beginning this fall, officials said Wednesday."

"The program’s goal is to increase turnover in curbside parking spaces in the test areas — a section of Greenwich Village in Manhattan and a stretch of Kings Highway and adjacent streets in the Midwood neighborhood of Brooklyn — so that drivers will spend less time cruising in search of an open space, according to the transportation commissioner, Janette Sadik-Khan."

Full Story: City to Test Peak Rates for Parking Meters
Source: The New York Times, July 10, 2008
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One major problem with the current focus is that parking demand is tricky to pin down, since demand itself is a function of supply, especially in urban places.
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