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 Green P lots and on-street parking spaces 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).
The staff report, however, notes that parking at all Green P lots will remain cheaper than parking at nearby private lots, with all but a handful of lots having rates that are about 25 per cent cheaper.
The Toronto Parking Authority is expected to vote on the proposed increases at a meeting on Monday.