The downtown revitalization could never have happened without the PARTA transit center and parking deck so it’s no surprise that we work closely with the PARTA staff to help make sure the deck can pay it’s bills and continue to be a vital part of downtown Kent’s future.
Considering PARTA’s mission is public transit — not parking — they’ve done a remarkable job of learning an entirely new industry and the City, and all those downtown businesses whose customers park in the deck, are extremely grateful.
Last week the PARTA staff provided the end of year report for the Parking Deck downtown and I thought I’d pass along the highlights.
– The Deck is now in it’s 5th year of operation
– Deck operations and maintenance costs are running about $450,000 a year
– Deck revenues are running about $550,000 a year
– The operating cost per car in 2017 averaged $3.88, while the revenues per car averaged $4.46, for a net “profit” of $ .58 per car.
– The Deck has had 3 straight years of an operating surplus
– Any surplus revenues are used as follows: 1)to pay off capital debt first; and 2)shared 80% to PARTA, 20% to the City
– If trends continue it looks like the capital debt and depreciation could be paid off in 2019
– In 2017 PARTA replaced the entire computerized ticket system with a major upgrade in technology
– 2016 proved to be an unusually high revenue year, presumably related to the many construction contractors working on the Avant 220 building; 2017 returned to 2015 revenue/usage levels
– KSU hotel guests provide about $10,000 a month in Deck revenues
– The Daily Parking revenue is the largest single source of revenue, at 40% of total revenue; Monthly Parking pass revenue is the second highest source of revenue, at 33%; and Hotel Guest revenue is third at 22%.
– For 2017 the Daily Parking revenue dropped 12% from the record high year of 2016 remained 3.8% over 2015 revenues, Hotel Guest revenue dropped 4%, but Monthly Parking pass revenue increased 41%.
– Monthly Parking pass revenue is predominantly from the people living downtown in the Landmark building, Avant 220, and the Flats 345 (downtown housing projects have proven to be good for the Deck’s bottom line).
– In 2017, 122,915 cars used the deck, approximately 10,000 per month.
– In 2017, approximately 40% of the Deck customers paid $5.00; 30% paid between $10-$15 (permit passes); and 25% paid $1.00.
– In terms of how long people parked in the Deck in 2017, the largest number of people parked for 3 hours, followed by 4 hours, followed by 40 minutes, followed by 1:40 minutes, 1:20 minutes; 2 hours, 5 hours, 6 hours and 1 hour.
– The roof top floor of the Deck is used for permit parking ($76/month) and it is full. Covered permit parking is offered on the lower floors ($96/month) and permits are still available.