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On and off-street parking rates in Toronto expected to go up by year’s end

The Toronto Parking Authority (TPA), which manages all Green P parking in Toronto, is proposing price increases for on and off-street parking rates. Enzo Armini/Global News

The Toronto Parking Authority (TPA), which manages all Green P parking in Toronto, is proposing price increases for on and off-street parking rates that is expected to come into effect by year’s end.

Depending on the location, the proposal will see a hike of between 25 or 50 cents per hour at Green P lots.

Meanwhile, on-street parking will also see a boost with current hourly rates of $4 going up to $5, $3 to $4 and $2.25 to $3.

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The hourly on-street rate of $2 will remain the same while the bottom two tiers of $1.50 and $1 will be grouped into the $1 price.

The proposed on-street rate adjustments will be submitted to the Government Management Committee on Sept. 25. Council will then consider the changes at its meeting on Oct. 2.

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If approved, the changes will come into effect starting this fall and continuing in the spring of 2018.

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The off-street price hikes will be considered by the TPA’s Board of Directors on Sept. 18.

The parking authority says the rate increases will generate between $3 million to $3.5 million in additional total annual parking revenue.

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