Quote:
Originally Posted by City Wide
A year ago or so the owner? of Parkway in a interview said something like you can't make money in parking any more, that real estate development was the forward for his company (easy to say when you own all those lots). He mentioned the increase in the City's parking tax and less demand as his basis for his statement. I can think of 3 garages that have been torn down with a couple more planned and maybe 5 or more lots then have been built on, and apparently theres still an excess of spots. Hopefully that isn't a indication of less interest in CC. In any case the lot the I can't figure out is at 17th and Pine; any type residential built in that area would bring in piles of cash.
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I remember that article. I wanted to scream when I read it.
It has almost nothing to do with the parking tax and everything to do with ride sharing services.
Most people simply don't want to deal with the hassle of driving in and out of the city anymore, especially if there is any chance that they'll be drinking. You can get to Center City from most points on the Main Line, Delaware, Montgomery and Lower Bucks for less than $40 each way via uber etc. If you're splitting it with 1 or 2 people, it's even cheaper...and far less money than a DUI, especially considering you're not paying the $30 to park in the garage for the night.