Parking Not Getting Any Cheaper, Colliers Reports


BY PETE GOLDIN


ca’smajor cities. Collier’s 10th annual NorthAmerican Parking Rate Survey,


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tracking 44 CBDs across the U.S. and 12 in Canada, is published to provide corporate real estate executives with the relative cost of parking, both on a daily andmonthly basis. The survey includes only covered or underground parking


garages in prime CBDs. Parking rate data were collected during June 2010 by contacting owners/operators, checking rates by walking the CBDs ofmajor cities, and utilizing third-party data.


Survey says … It’s no surprise that NewYork, the only NorthAmerican city


with two CBDs tracked by the Colliers survey, ranked as one and two forMidtown ($538) and Downtown ($529), on the monthly parking list. Both NewYork districts were more than $100 per month higher than the third-ranked city, Boston ($425). San Francisco ($375), Chicago ($320), Philadelphia ($300),


OLLIERS INTERNATIONAL, A leading global real estate services organization, reports that parking remains expensive in the central busi- ness districts (CBDs) of NorthAmeri-


Seattle ($285),Washington, DC ($245), Honolulu ($222) and LosAngeles ($210) round out the top 10. The national average was $161.50. The top 10 cities for daily parking rates follows a similar pat-


tern, with NewYork’sMidtown in first place at $40 per day, fol- lowed by Honolulu ($32.75), Boston ($32), Chicago and New York Downtown ($31), LosAngeles ($30), Philadelphia and San Diego ($26), and San Francisco and Seattle ($25). The NorthAmerican survey also reports on Canadian park-


ing rates. For monthly parking, the five most expensive cities in Canada are Calgary (CAD$453), Toronto (CAD$336),Montreal (CAD$280), Edmonton (CAD$275) andVancouver (CAD$267). Colliers also produced a global parking survey, with Lon-


don’s two CBDs in the top two spots on themonthly parking list, and NewYork barelymaking it into the top 10, at numbers 9 and 10.Other top 10 cities includedHongKong,Tokyo, Zurich, Syd- ney, Perth and Brussels.As far as U.S. cities go, only Boston and San Francisco cracked the global top 25. Abu Dhabi topped the global survey’s daily parking list at


$55 per day, followed by Oslo, Tokyo, London and Sydney. In terms of U.S. cities, NewYork’sMidtown was the highest-ranked at number 12; however, Honolulu, Boston, Chicago and Los Angeles allmade the top 25.


Continued on Page 53


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SEPTEMBER 2010 • PARKING TODAY • www.parkingtoday.com


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