Car share parking spaces
19 November 2012
Car share has more than tripled in the local area to 10,800 members over the past three years, easing traffic congestion, freeing up parking and saving residents $21 million a year.
No parking spaces have been lost since the scheme began as each car share parking space in the City replaces the need for 12 other cars, on average.
The City provides access to 450 on-street car share bays to three car share companies: GoGet, GreenShareCar and Flexicar for their combined membership of 10,800.
The City believes this is a worthwhile investment as car share reduces on-street parking demand and traffic congestion.
A study by SGS Economics and Planning, commissioned by the City, shows the economic benefits of car share to City residents and businesses outweigh the costs by a ratio of 19 to one.
The benefits this year are worth around $21 million, including $18.5 million in deferred car purchases by households and businesses. This compares with costs of $750,000 (including $640,000 foregone parking meter revenue).
Car share companies are charged $880.00 (including GST), up from $440 on July 1, for each car share bay installed in the City of Sydney LGA. This represents full cost recovery of the installation of signs and line marking for the car share bay.
They are also charged an annual fee per year equal to a resident’s parking permit charge which ranges from approximately $25 to $100 depending on the environmental performance of the vehicle.
The current tally of 10,800 car share members is two-thirds of the way to the City’s target of 15,000 members, or 10 per cent of households by 2016.
A third of members are small businesses, reducing their overheads and avoiding paying for their own vehicles that may be idle for periods of the day.
At current rates of increase, the 10 per cent target is likely to be reached in 2014.
Shared spaces installed over the next few years will be mixed between streets, private car parks and City car parks. Many of the new spaces will be dedicated in new mixed-use developments or in streets that are not yet constructed.
At least 11km of new roads will be constructed in the City’s renewal areas, predominantly Green Square, but also in the Ashmore Precinct, Harold Park and the former Carlton United Breweries site on Broadway.
Last updated: Thursday, 9 January 2014