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Parking Hyperbole?

By Eric Richardson
Published: Thursday, February 01, 2007, at 08:22AM
Hyperbole? Eric Richardson [Flickr]

I turned on the TV this morning just in time to see KTLA's (newly HD) morning news run a segment on parking rates in LA. They say rates are up, way up. In fact, they say that monthly parking Downtown will run you $300 to $500 per month.

A bit of hyperbole, perhaps? Back in July we talked about how Colliers' 2006 parking study had LA's median rates at $190, up only $5 from the pervious year. If you look at the study PDF you'll find that their highest surveyed rate for unreserved parking in the LA CBD was $304.

I have a feeling that monthly rates of $300 - $500 per month would lead to construction of parking garages.

Update (9:15): Looks like the KTLA report was just bad interpretation of a story that runs in the Times today.

Commuters who paid as little as $80 a month in downtown Los Angeles in the early 1990s are being hit up for as much as $300 for unreserved spaces. Prefer a prime slot with your name on it? Be prepared to write a check for more than $500 a month.

KTLA took the "as much as" and turned it into an "at least."

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