Report recommends raising parking rates, extending hours at River Landing Parkade

You could soon have to pay more to park at River Landing Parkade.

City administration is recommending a phased increase to parking rates at the parkade starting May 1st.

The plan would see monthly and daily parking fees rise, while the cost of hourly parking would not change.

A report to be tabled at next week’s Environment Committee meeting says the city originally priced rates conservatively to attract more people. It now wants to raise rates to more closely reflect market prices. The report says monthly parking would rise from $150 to $175 starting May 1st and increase again on October 1st to $200. Adminstration says market rates for similar parkades at between $275 and $300 for monthly parking.

Daily and evening parking fees are also set to increase starting October 1st. The cost to park from 7 a.m to 6 p.m will rise from eight to ten dollars per day, while evening parking from 6 p.m until midnight will go from five to seven dollars.

The city says it’s planning on extending the hours of operation at the parkade to 6 a.m. until 1 a.m. The parkade currently operates between the hours of 7 a.m. and midnight.

The city says usage of the parkade along with revenue has been increasing each month.