TTC commuter parking lot rate to rise in 2017

In addition to a fare hike for 2017, the price to park at commuter lots is also going up a select locations in the new year.

A Toronto Transit Commission staff report to be presented at a board meeting on Tuesday is recommending a $1 to $2 increase in parking rates, which is expected to bring in $1.5 million.

The TTC said annual revenues have fallen by $2.4 million due to the closures of the Eglinton West lots for the LRT, York Mills, Islington Cordova and Wilson West for redevelopment by Build Toronto. The lot at Yorkdale has also taken a hit as the mall undergoes renovations.

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“This report’s recommended price increases at select lots will help increase non-fare revenue, while still offering an affordable way for commuter customers to access the TTC,” the report said.

“These parking rate increases are anticipated to be the maximum amount we can charge without significantly impacting parking demand, as well as the associated ridership.”

The report said commuter parking has never been more popular but that the rates have remained stagnant.

“Some lot rates have not been adjusted since 2001. Pricing has generally trailed behind inflation, while operating costs have risen,” the report reads.

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The TTC discontinued free parking for Metropass users seven years ago and the price hike, between $4 and $5, caused a sharp drop in commuter parking.

But the report said parking has gradually rebounded and the average utilization is now at 91 per cent.

A 2013 survey of TTC commuter lots found that approximately 60 per cent of parking users come from Toronto. The remaining customers reside in suburban areas such as, York Region, Peel Region and other parts of the GTA.