Change doesn’t always benefit everyone affected by it, and it’s understandable that cities want to help residents who are struggling with the changes caused by the recent urban revival. But change is part of growth, and helping people adapt to redevelopment is a better approach than stifling it.
Market pricing for parking is no longer the pie-in-sky theory of economics textbooks. The technology exists to charge for parking on a real-time basis. Harnessing this technology to manage supply and demand more effectively will ensure that parking exists at peak periods for those willing to pay for accessibility, while creating a sustainable revenue stream for transportation facilities.