Tuesday, July 19, 2011

Collier's Parking Rate Survey and Results for 2011

The results of Colliers International's 2011 Parking Rate Survey are in for the U.S., Canada, and the rest of the world.

The U.S. national median monthly parking rate is $155.22, with the highest being midtown Manhattan at $541. Reno, Nevada is the cheapest at $45. In Canada, Calgary topped out at $486 followed by Toronto at $342 and Montreal at $305.

Globally, the most expensive cities to park in are London at an average of $1,084 a month, Zurich at $822, Rome at $719, Hong Kong at $745, Tokyo at $744 and Perth, Australia at $717.

When compared with previous years, it appears despite the strengthening economy owners and operators are holding the line on parking rates. There was little change from 2010. In the U.S., medium monthly parking rates have dropped 0.2% since 2010, and most cities were found to have between "fair" and "limited" parking, with few exceptions.

Check out the study here.

Friday, July 8, 2011

The State of the American Highway System

Over the past few years we have been hearing a lot about the nation's failing infrastructure and how we can not afford to maintain or rebuild it. Well, Zach Rosenberg of "Car and Driver Magazine," paints a very bleak picture of our broken highway system and the challenges to fixing it in, "The State of the Union's Roads: An Investigative Report."
Zach explains that the Interstate Highway System, which is the backbone of the United States four million miles of roads, has reached the end of its useful life. Designed to last only 20-30 years, these roads are pushing 50 years old, and there just isn't the political will and/or the money to replace them.

Rosenberg gives a brief history of the highway system, its funding, and how its role has changed and been used far beyond its capacity. One example Rosenberg cites is the Tampense bridge in New York City, which was designed to handle 18,000 cars a day. It now carries 150,000.

"This is the era of the worn-out highway, of the traffic jam, of endless commutes, of road rage. Beltways and bypasses will not help you. We demand more, far more, than the interstates were built to withstand."

Not a pretty picture.