What’s ‘free parking’ really worth in Victoria?

What’s ‘free parking’ really worth in Victoria?

On-street parking spot along Richardson bikeway estimated at $21,441 each, based on neighbouring land value

What’s the price of an on-street parking spot?

It isn’t free, and the answer is a lot higher than one might think.

One estimation, based on neighbouring land values, puts the cost of an on-street parking spot (measured at 167 square-feet, as according to City of Victoria parking minimums for a standard, square spot) between Foul Bay Road and Runnymede-Redfern at $21,441 (see explanation at bottom of story).

And yet, on-street parking is a right that many residents feel entitled to. The problem is, it’s a heavily subsidized use of public space based on an antiquated car-centric culture and causes all sorts of problems. One of those is the City of Victoria’s attempt to build a safe bikeway network, says Fairfield resident Lorne Daniel.

READ MORE: Victoria unveils next phase of bike lane network

The City hasn’t declared parking as an issue and in most cases, Victoria retains on-street parking in their bikeway upgrades. However, roads should be re-evaluated for moving people, not just driving and parking, Daniel said.

Currently, Victoria is being criticized for two legs of its 2020 phase of the bikeway network, Richardson and Haultain roads. Haultain is narrow and the on-street parking makes it particularly dangerous.

“The point is, there isn’t any free parking,” Daniel said. “And the [current] Richardson proposal is not an AAA [all ages and abilities] design. Really, it’s just because they’re fearful of the backlash of drivers.”

The question for Oak Bay, Daniel says, is why doesn’t McNeil have bike lanes that will link up with Richardson. Oak Bay has hundreds of commuters who bike into Victoria and McNeil has all kinds of space. Oak Bay could easily install a protected bike lane on McNeil, Daniel said, and without any loss of parking.

In the 2016 census, 16.1 per cent of commuters from South Oak Bay reported traveling by bike. That number doubled from 8.6 in the 10 years previous.

READ ALSO: Victoria cycling community raises concern over new bike lane designs

“It’s something that should be done, especially if Victoria is going to discourage drivers from OB onto Richardson,” Daniel said.

The proposal for Richardson, as has been widely reported, is to minimize the number of drivers on it by adding traffic diverters. The main diversion is to block westbound access at Foul Bay Road. Oak Bay drivers – at least a few – don’t like it and fear they’ll be trapped behind their own Tweed Curtain.

However, Richardson is a residential road and wasn’t built as a highway for Oak Bay residents to travel downtown, Daniel points out.

“I’ve had one person tell me, ‘You want me to drive on Fairfield instead and travel through three school zones,’” Daniel said. “I said, ‘Yes, or you don’t have to drive.’ There’s a lot of people in Fairfield who don’t believe our roads are here for Oak Bay residents to commute on.’”

For the record, the Greater Victoria Cycling Coalition is highly concerned with the Richardson advisory bike lanes, but are not focused on the on-street parking along Richardson.

“We just don’t know enough about advisory bike lanes, or if they will work here,” said Corey Burger of GVCC. “The City of Victoria should let Humboldt advisory bike lane get built and tested before adding more.”

So how much is a parking spot? Or how about the whole road? (For those reading our print edition, visit this story online at oakbaynews.com to see our crack-shot methodology.)

Just for fun, here is rudimentary speculation based on a simple equation. The math was done using B.C. Assessment to collect the land values.

Yes, it’s a crude way to go about it with many errors. However, if the road on a city block was converted back into a residential lot, speculation suggests it would cost the same and the property might increase in value. Therefore, it works well enough as an exercise.

Parking spaces generally range in size from about 270 to 320 sq. ft. To make it easy, we’ll go with 300 sq. ft. Multiply that by the number of cars regularly parked on the street.

We took all 10 lots facing Richardson between Foul Bay Road and the intersection of Runnymede (and the alley which turns into Redfern), where westbound traffic will be minimized by the proposed Foul Bay diversion. The land value of all 10 lots is $7,981,000, divided by the estimated 62,161 square feet, is $128.39 per square foot. That number times 167 sq. ft. equals $21,441.13.

reporter@oakbaynews.com

Just Posted

Victoria police are searching for high-risk missing woman Chloe Morrison who was last seen in Victoria June 13. (Courtesy of VicPD)
MISSING: Chloe Morrison, last seen in Victoria

Morrison, 25, was last seen shortly after 2 p.m. June 13

Sasha Perron of Langford is preparing to run a half marathon on Saturday, 10 kilometres Sunday, 21.5 km on Tuesday and so on until he’s totalled 216 kilometres. (Jake Romphf/News Staff)
Indigenous man to run 215 kilometres, plus one for children waiting to be found

Donations to Sasha Perron’s fundraiser to benefit Indian Residential School Survivors Society

Saanich Neighbourhood Place is hoping to open the doors to its new centre in July, pending final council approval. (Black Press Media file photo)
Saanich childcare agency awaits final approval on much-needed new facility

Saanich Neighbourhood Place keen to open new centre this summer, expand options for community

A patio built by The Village is shared by three eateries in Estevan. (Christine van Reeuwyk/News Staff)
Oak Bay eateries sharing communal patio space in Estevan Village

The Village invested $25,000 in streetside patio, hopes to make it permanent

An SUV sits where it crashed through the front window of the 2:18 Run store in Fairfield Plaza, after the driver appeared to lose control on Monday afternoon. (Photo by Phil Nicholls)
Driver crashes through front window of Victoria running store in Fairfield

Phil Nicholls of 2:18 Run said crash sounded like an earthquake at first

Canadian Prime Minister Justin Trudeau participates in a plenary session at the G7 Summit in Carbis Bay, England on Friday June 11, 2021. THE CANADIAN PRESS/Adrian Wyld
Canada donating 13M surplus COVID-19 vaccine doses to poor countries

Trudeau says the government will pay for 87 million shots to be distributed to poor countries

Montreal Canadiens goaltender Carey Price (31) is scored on by Vegas Golden Knights defenseman Alec Martinez, not pictured, during the second period in Game 1 of an NHL hockey Stanley Cup semifinal playoff series Monday, June 14, 2021, in Las Vegas. (AP Photo/John Locher)
Habs fall 4-1 to Vegas Golden Knights in Game 1 of NHL semifinal series

Match was Montreal’s first game outside of Canada in 2021

Kelowna-Lake Country MLA Norm Letnick, assistant deputy speaker at the B.C. legislature, presides over committee discussions. The legislature is completing its delayed spring session this week, with most MLAs participating by video conference. (Hansard TV)
B.C.’s daily COVID-19 infections dip below 100 over weekend

Only 68 new cases recorded Monday, four additional deaths

Neighbours fight a small late-night bush fire with garden hoses and shovels in Cinnabar Valley on June 5. They couldn’t get help from local fire services because the fire was located in an area under B.C. Wildfire Services jurisdiction. (Photo courtesy Muriel Wells)
Neighbours on edge of Nanaimo city limits left to put out bush fire themselves

Cinnabar Valley residents tackle fire with hoses and buckets for two and a half hours

Darren Campbell’s truck (pictured) was stolen when he stopped to check on a car in a ditch on Cowichan Bay Road on Monday morning. (Facebook photo)
Vancouver Island Good Samaritan’s truck stolen in nasty trick

‘Try to be a Good Samaritan and my $20,000 truck gets stolen right under my nose’

The Kamloops Indian Residential School is photographed using a drone in Kamloops, B.C., Monday, June, 14, 2021. The remains of 215 children were discovered buried near the former school earlier this month. THE CANADIAN PRESS/Jonathan Hayward
Communities grapple with what to do with former residential and day schools

Some tear them down as a tool to help healing, others repurpose them as tools for moving forward

Creative handmade signs abound at the June 13 Tofino rally for old growth trees. (Nora O’Malley photo)
VIDEO: Tofino stands in solidarity for Fairy Creek Blockades

Over 150 supporters attend rally hosted by Friends of Clayoquot Sound

FILE – Provincial health officer Dr. Bonnie Henry talks about B.C.’s plan to restart the province during a press conference at Legislature in Victoria, Tuesday, May 25, 2021. THE CANADIAN PRESS/Chad Hipolito
B.C. watching U.K.’s COVID struggles but don’t think province will see similar pitfalls

Studies show that one dose of vaccine is only 33 per cent effective in preventing B.1.617.2 spread

RCMP Const. Shelby Patton is shown in this undated handout photo. RCMP say that Patton was hit by an allegedly stolen truck that he had pulled over on Saturday morning in Wolseley, east of Regina. THE CANADIAN PRESS/HO, RCMP
Pair charged in Saskatchewan Mountie’s death make first court appearance

Const. Shelby Patton was hit by an allegedly stolen truck that he had pulled over Saturday morning

Most Read