By Tim Maloney

We started a conversation yesterday about how a plan to implement congestion pricing will affect parking in Manhattan. Continuing those thoughts:

While New York City is working to improve the subway system, many people who value flexibility and control will still find driving to be their best option. Some commuters will still pay the toll to enter the CBD without hesitation; let’s call them the Business Elites. These are the professionals who value their time over money. On the other side of the coin, drivers who value money over time are likely to park at a facility along the toll border and take an alternative mode of transportation for the last mile;  these are your Savvy Commuters. Savvy Commuters may elect to supplement their drive-and-park with anything from public transit to walking or even ride-share if they are pressed for time.

Business Elites and Savvy Commuters both prioritize driving over the crowded subway system of New York City. During public transit upgrades, both drivers will prefer to drive due to construction delays and overcrowding. Once construction on the subway system is complete, the Savvy Commuters are expected to leave their cars at home and opt to take public transportation. By the time construction is finished, parking will have already adapted to the new demand.

The future of parking for New York City will adapt to demand. The city is already seeing the power that legislature has on parking, but parking is poised to be the solution to NYC’s congestion problem. With spots opening up within the CBD, so opens the opportunity for fleet and ride-share parking. Urban residents need to get where they are going, and car-share isn’t going anywhere. Once fleet vehicles are off the road and parked at a facility, the roads open up to be a pedestrian paradise.

New York City’s Traffic Mobility Act aims to decrease the number of cars entering Manhattan’s CBD, increase funding for public transportation and pedestrian safety, and decrease parking demand temporarily. Fewer cars parking downtown will create an opportunity for parking operators to generate revenue from new urban mobility models fleets, ride-share, and eventually autonomous vehicles to finally have a reliable place to park. As long as there are cars on the ground, there will be a need for a place to park. Parking is the solution to city congestion and the foundation for the fast-paced urban mobility ecosystem.

Tim Maloney is director of strategic partnerships with SpotHero.

By Tim Maloney

Manhattan is overflowing with more than 50 percent of trips in the central business district (CBD) made by motor vehicles, and the average speed for traffic has dropped to 7.1 mph (Mobility Report, 2018). The swollen arteries of the city cause a heart-stopping number of problems for pedestrians and cars. Left unchecked, the congestion crisis will get worse, and the solution needs to be right around the corner.

One solution proposed by the mayor’s Congestion  Action Plan was to create a charge during peak travel times into the CBD of New York City. Although this is the first piece of legislation in the U.S. that taxes those who drive in congested areas, New York is hoping it will help raise money for new bike lanes, public transit, and other infrastructure improvements under the Traffic Mobility Act (TMA). Driving will never go away, but the driver will change. This new legislature will help create a framework that allows urban residents in New York to choose their mobility option from a diverse portfolio of options.

While the new congestion pricing legislature may ding parking revenue in the CBD, it will grow revenue on the border of the toll and will force long-term, off-street parking change in the CBD as parking demand evolves.

Parking demand will not drop substantially inside the CBD because everything needs a place to park. There are millions of people working between 60th Street and Battery Park. According to  blogger Todd Schneider, NYC sees just more than 700,000 ride-share trips a day–that is a lot of parking opportunity. While drivers wait for their phones to buzz with the next rider destinations, during quick food dashes, and for restroom breaks, they will need a place to park. It is expected that facilities right outside the congestion toll line will see an increase in parking because drivers will be looking for solutions to the last mile of their commutes.

What’s next for us? We’ll talk about that tomorrow.

Tim Maloney is director of strategic partnerships with SpotHero.