City Considering Subsidized Parking Program

Brewster McCracken is pushing city council to create a program to build more parking garages downtown. There are already a lot of parking garages downtown, and every new development includes several floors of parking, but it is often not profitable to open these garages to the public. Similarly, it doesn't make economic sense for developers to build public parking garages. According to the Statesman, McCracken estimates that the proposed Seaholm garage would cost $3.78 million to build and would generate a $3.3 million profit over 30 years. How much would $3.78 million in the bank generate over 30 years? When parking is in high enough demand that it makes financial sense for other buildings to open their garages to the public, they probably will.
We love to see the city interested in promoting progress downtown, but subsidizing parking promotes a car friendly downtown, not a pedestrian friendly downtown. More parking garages downtown means it is easier for people to drive downtown, which means there will be more cars downtown, which means it will be less pleasant to walk downtown. More parking garages downtown means there is less reason to take public transit downtown. More parking garages downtown means less space for other buildings downtown - less retail, less offices, less apartments, which means all of them will be more expensive, which means less people will be able to afford to shop downtown, work downtown and live downtown. More parking garages downtown means more blank concrete walls facing the street, more driveways crossing the sidewalks and more SUVs driven by suburbanites used to driving on pedestrian-free streets. More parking garages downtown means less pedestrians downtown.
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