So today the restaurant association has announced food businesses in downtown Vancouver and Victoria are earning 20-30% of their pre-COVID revenues. So that makes me wonder, are the parking revenues we’re seeing really those of workers who’ve opted not to take the bus or use alternate transport to get to work, and are instead driving?
I feel as though we need the city to conduct a proper survey to assess office load levels. We ought to know these things.
I've never really gotten into the revenues as rates are still lower than what our regular rates have been. Reporting has been done by transactions. Remember there are 724 - 90 minute spaces in the downtown core. Slightly reduced as flex zones are created for businesses. Last yeah Jun 24th -28th there were 3,979 transactions of 90 minutes or less. The same week this year we saw 3,757 transactions in those spaces that were 90 minutes or less. These are not commuters typically. I can find out how many under 30 minutes and 60 minutes as well. Parkades are slower to come back, street parking is usually a little more palatable. in June 2019 almost 77% of the transactions were under 3 hours (your downtown shoppers for the most part). This year the rate of short-term parkers is at 72%. The number of transactions however has been cut by over half (106,000 vs 51,000). These numbers are still improving daily/weekly just over 16% increase from the first two weeks of June compared to the last two weeks.
There are certainly different commuters using the parkades and limited time zones outside the core. There will be further adjustments as we move forward.