mauricio Leclerc

Portland parking reformers puzzle over how to value bike lanes

Michael Andersen (Contributor) by on January 30th, 2015 at 10:28 am

New striping on Broadway ramp-2

What’s it worth?
(Photo J. Maus/BikePortland)

How much is a bike lane worth?

As the City of Portland begins moving toward an overhaul of its auto parking policy, the people on two massive parking-reform stakeholder committees (one for the central city and one for neighborhood commercial districts) are beginning to confront an interesting problem.

If modern acolytes of market-priced street parking are correct, it’s actually not hard to discover the economic value of an on-street auto parking space: use meters or permits to raise the price of parking until 15 percent of spaces in a given area — about one per block — are always empty and available. It’s the curbside equivalent of a store that’s acquiring new inventory at the same rate that it sells its current stock.

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