Bad news Toronto, another Green P parking lot price hike is here.
The City of Toronto’s 204 Green P lots will be raising their half-hourly rates by 25 cents and 50 cents starting today, but residential parking rates and on-street parking are set to stay at the same price until 2020.
"What every driver wants is to see that when you arrive, there's a parking space waiting for you because if there isn't, people have to drive around looking for one," Shoup https://t.co/o99io5Rny4
— TJ Maguire (@tjhfx) February 11, 2019
Sure, that’s probably not what you want to hear on a Monday morning, but how high are Toronto’s parking price compared to other major cities? According to CBC, Toronto remains at the lower range of on-street parking rates in North America, with a minimum of $1.00 and a maximum of $5.00. Other major cities like San Francisco, which falls in the range of $0.50 to $7.00, and Chicago, which rings in between $2.60 and $8.50, have relatively higher rates.
The Toronto Parking Authority considers three things when hiking up Green P rates: overall turnover for businesses, parking space availability for commuters, and revenue generated by TPA.