The San Francisco Municipal Transportation Authority (MTA) approved last week a citywide expansion of its demand-based parking price program, according to NextCity and others. San Francisco is now the first U.S. city to implement a surge pricing program at all of its meters, parking garages and city-owned lots.
Demand-based pricing had already been rolled out at 7,000 of the city's metered parking spaces, as well as 14 city-managed parking garages. Now, by expanding the program to the rest of the city-owned parking spots, leaders hope to decrease traffic congestion from drivers circling the streets for parking, and to also increase the parking turnover on popular streets.
The metered pricing currently has a minimum of 50 cents per hour, with a cap of $8 per hour. Under the program, the city will adjust meter rates every three months based on average occupancy. According to NextCity, if a block is consistently at 80% or more occupancy, the rate will go up 25 cents. Alternatively if it is below 60% occupancy, the price will drop 25 cents.