The city is considering putting time limits for on-street parking near the Bridgeport Canada Line Station but turning a vacant lot into paid parking.
Currently, there’s no paid parking in the area or on any streets near the property, which are “heavily used” by local businesses and Canada Line users due to the “unregulated timed street parking,” according to a report going to council on Monday.
If the vacant lot at 8620 and 8660 Beckwith Rd., purchased by the city for $3.15 million, were turned into a paid parking lot, the city would place time-limited parking signs on Beckwith Road and nearby streets, such as Smith and Charles streets in order to encourage use of the paid parking lot.
However, the paid parking lot would only have 32 spaces, and the 200 on-street spaces would be turned into timed spots.
“While this enhanced enforcement would likely result in increased revenue for the city, it could create hardship for area residents who work in Vancouver and rely on the Canada Line,” according to the report.
City staff outline five options for the proposed parking lot, located near Bridgeport and No. 3 roads, with fees ranging from $3 a day up to $20 a day.
The report notes the $10 rate “would be attractive to day trippers into Vancouver,” however, the $20 rate would not, and demonstrates there is a limit to how much people would be willing to pay.
Daily rates for parking in Vancouver range from $10 to $27 for eight hours.
However, the report notes that some of the scenarios could create an expectation that the property would remain as cheap parking amid surrounding redevelopment.
The city purchased the property with the intent to hold it for future development.
City staff are asking council to approve one of the options and will consult with neighbouring businesses about the potential impact that the enforcement of time-limited street parking may have.
The parking lot is on the agenda for Monday’s general purposes committee meeting.