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

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Island Health has confirmed the first long term care facility outbreak in Greater Victoria at Veterans Memorial Lodge in Saanich. (Google Maps)
Island Health records first long-term care COVID outbreak in Greater Victoria

Veterans Memorial Lodge in Saanich confirms one positive staff member

Itty, a Siamese cat, has been missing since a house fire in Victoria’s Fernwood neighbourhood on Friday, Nov. 27. Her owner says she has white fur with blonde and grey markings. (Facebook/ROAM)
Cat goes missing after house fire in Fernwood neighbourhood

‘Itty’ has white fur, blonde and grey markings and blue eyes

An aerial view over Oak Bay. (Black Press Media File Photo)
An aerial view over Oak Bay and the Marina. Oak Bay residents pay the highest taxes on Vancouver Island. Don Denton/Black Press
Oak Bay secondary suites study considers units old and new

Secondary suites draft report due in new year

Westcoast Impressions plans to organize a COVID-19 friendly version of the event in 2021 at the Mary Winspear Centre after having cancelled the 2020 version against the backdrop of pandemic. The opening night of the 2019 Sidney Street Market featured more than 150 vendors lined along Beacon Avenue. (Black Press Media file photo)
Sidney Street Market plans for 2021 return at Mary Winspear Centre

Tentative plan calls for the event’s return to Beacon Avenue after COVID-19 pandemic

(Dave Landine/Facebook)
VIDEO: Dashcam captures head-on crash between snowplow and truck on northern B.C. highway

Driver posted to social media that he walked away largely unscathed

Black Press Media and BraveFace have come together to support children facing life-threatening conditions. Net proceeds from these washable, reusable, three-layer masks go to Make-A-Wish Foundation BC & Yukon.
Put on a BraveFace: Help make children’s wishes come true

Black Press Media, BraveFace host mask fundraiser for Make-A-Wish Foundation

A B.C. Ambulance Service paramedic wearing a face mask to curb the spread of COVID-19 moves a stretcher outside an ambulance at Royal Columbia Hospital, in New Westminster, B.C., on Sunday, November 29, 2020. THE CANADIAN PRESS/Darryl Dyck
Top doctor urges Canadians to limit gatherings as ‘deeply concerning’ outbreaks continue

Canada’s active cases currently stand at 63,835, compared to 53,907 a week prior

A Canadian Pacific freight train travels around Morant’s Curve near Lake Louise, Alta., on Monday, Dec. 1, 2014. A study looking at 646 wildlife deaths along the railway tracks in Banff and Yoho national parks in Alberta and British Columbia has found that train speed is one of the biggest factors. THE CANADIAN PRESS/Frank Gunn
Study finds train speed a top factor in wildlife deaths in Banff, Yoho national parks

Research concludes effective mitigation could address train speed and ability of wildlife to see trains

A airport worker is pictured at Vancouver International Airport in Richmond, B.C. Wednesday, March 18, 2020. THE CANADIAN PRESS/Jonathan Hayward
Canada extends COVID restrictions for non-U.S. travellers until Jan. 21 amid second wave

This ban is separate from the one restricting non-essential U.S. travel

Menno Place. (Google Street View image.)
B.C. care home looks to hire residents’ family members amid COVID-19-related staff shortage

Family would get paid as temporary workers, while having chance to see loved ones while wearing PPE

A man walks by a COVID-19 test pod at the Vancouver airport in this undated handout photo. A study has launched to investigate the safest and most efficient way to rapidly test for COVID-19 in people taking off from the Vancouver airport. The airport authority says the study that got underway Friday at WestJet’s domestic check-in area is the first of its kind in Canada. THE CANADIAN PRESS/HO, Vancouver Airport Authority *MANDATORY CREDIT*
COVID-19 rapid test study launches at Vancouver airport for departing passengers

Airport authority says that a positive rapid test result does not constitute a medical diagnosis for COVID-19

A small crash in the water south of Courtenay Saturday afternoon. Two men had to be rescued, but reports indicate there were no serious injuries. Photo by Mike Chouinard
Small plane crash in Comox Valley waters Saturday afternoon

Two rescued from plane that had flipped in water; no serious injuries reported

A photo from 2017, of Nuchatlaht First Nation members outside court after filing a land title case in B.C. ( Submitted photo/Nuchatlaht First Nation).
Vancouver Island First Nation calls on B.C. to honour UNDRIP in historic title case

Nuchatlaht First Nation says Crown counsel continues to stall the case using the ‘distasteful’ argument that the Nation ‘abandoned’ their land

Most Read