10 Financial Benefits of Sustainable Parking
1. Reduces costs of lighting, personnel, security, ventilation – less than half the operating costs of equivalent conventional parking garage
2. Saves millions of dollars in capital costs – reduces construction costs and schedule
3. Makes more land available for higher yielding development
4. Increases capacity for more vehicles and thereby higher revenues
5. Maximizes land usage – uses unsuitable, otherwise unused spaces
6. Provides additional revenue stream options – e.g. Storage pods
7. Extends the life cycle of existing buildings – can be retrofitted to upgrade as part of a refurbishment
8. Provides options for low level entry into large capital improvements through lease buyout agreements
9. Provides tax benefits through accelerated depreciation – equipment depreciates faster than capital improvements
10. Extends the lifespan of the garage – twice the lifespan of conventional garages
