June 23, 2007

Gold Standard Valet Parking

The Story:

--- The DC Department of Transportation is considering regulations to create valet parking staging zones where restaurant, nightclub etc. customers could pick up or drop off their vehicles. Spaces will be leased for about $2,400 per year or $200 bucks per month.

View from the Bubble:

--- Stepping up DC parking services certainly could help DC restaurants attract suburban diners.
--- But 200 bucks a month for prime parking seems pretty cheap to us.

Link: WashExam

46 comments:

gpliving said...

Wow. So does that mean that if I own a business in DC, I can buy up a whole block of parking spaces for less money than what a local garage would charge?

Lance said...

The staging areas aren't parking spaces, they are simple "drop off/ pick up" areas for the valets to operate out of. Currently the restaurants (etc) are just laying claim to parking spaces/drop off zones/whatever and using those as staging areas without payin the District anything for them. The revenue from these staging areas should be sufficient in the aggregate to cover the additional administrative costs being incurred by the District to administer this program. I haven't a clue as to whether the $200/ staging area gets us there. Hopefully someone with DDOT does ...

Fancypants said...

Is it time for another 9-month hiatus?

Anonymous said...

Wash post article on Montgomery County Maryland foreclosures

http://www.washingtonpost.com/wp-dyn/content/article/2007/07/16/AR2007071600987.html

Anonymous said...

http://www.washingtonpost.com/wp-dyn/content/article/2007/07/30/AR2007073001715.html

A real estate related article

Anonymous said...

Is this blog dead?

Keith said...

Kinda makes sense, since the Bubble is clearly bursting.

Lance said...

Is Bubblemeter's name Phil by any chance?

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Anonymous said...

I rent alley spaces out in Adams Morgan for $250/mo, so $200 for a downtown restaurant is a joke. The average selling price of a Dupont alley parking space is $60,000-$75,000 - fund that at 30 years at 6.5% and you're paying more than $200/mo. I think it is only fair that they pay for space that they are, er, taking off the streets. Of course, if they are only open evenings, then $200 may be fair.

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James said...

$200 seems cheep but you have to look at it from the revenue the city will be making back by, like you said "attracting people from the suburbs"

keep in mind people who live in the city drive too, and valet would really encourage people to explore more options.

Many parking garages are also closed during the weekends, but a valet service would be able to utilize those spaces as well!

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James

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buildingdc.com said...

I think this is a terrible idea. It seems like the city is trying a 'get rich quick scheme' at the citizen's cost. DC has some of the worst parking in the nation and allowing the rich to buy up spaces will only set to limit parking for the average citizen.

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myrtle beach rentals said...

thats crazy. In myrtle beach the locals went crazy when they started putting up parking metors in the busy areas of town

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The bubble has burst and let out the helium. Maybe now we can get it together again and start a normal market one day.

Mazda Engines said...

$200 does seem pretty cheap. Also, does this really make since at this price to tie up a parking spot for a paying customer? What if the person with the spot only parks there once a month. It kind of defeats the purpose.

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Ralph D Bredahl said...

Sounds like a good idea. Stayed at the Mayflower last year and never took the car out of the garage because i knew that I would spend too much time looking for parking

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