This is probably due to a shortage of parking spots.
This is probably due to a shortage of parking spots.
Perhaps it's possible only when the margins of a business are as spectacularly high as those of Vegas casinos, so that the parking facility as a loss leader is still net profitable overall. There's also the invisible hand of capitalism, as casinos compete in the market of convenience: a casino without such a facility will lose market share to those that do.
Or land is so cheap because you're in the middle of nowhere.
Because no, it isn't impossible. I've never had a problem finding parking when there's a parking garage nearby. E.g. 5th and mission. Just go to the top open floor, and there's always several spaces waiting for you.
It's just street parking that is difficult. Which makes sense because if you think about it, streets don't provide much parking. Maybe 1 car per shop.
I just heard a Marketplace segment on this [1] where they talk about on-demand adjustable pricing. Very interesting.
[1] http://www.marketplace.org/topics/economy/tricky-practice-pr...
Basically, we don't have a real market for parking in most cities, so people will keep their car parked on the street forever instead of using market forces to induce turnover which is better for the city(revenue) and the nearby businesses(more customers).
[1] - http://freakonomics.com/2013/03/13/parking-is-hell-a-new-fre... [2] - http://shoup.bol.ucla.edu/CruisingForParkingAccess.pdf
Yes, that's the point. This is called modal shift and it is how you incentivize people to stop driving.
As long as the businesses if the affected area do not mind the change I see little reason to not do it.