Michael Andersen has the news:
Rahmani said last week (speaking only for himself) that TriMet’s staff members are making the case for surface lots instead of multi-level garages at several stations along the new rail line through Portland, Tigard, and Tualatin, except at the end of the line near Bridgeport Mall. Their theory is that transit funding is better spent elsewhere and the surface lots would preserve the option of adding housing later.
While this isn’t abandoning parking altogether, sticking with surface lots both saves money and, as they point out, makes development easier later. The article cites lots of King County Metro work indicating that park-and-rides are less efficient at creating riders than other programs.
I’ve heard numbers all over the place, but here they claim $52,000 per garage space and $18,000 per surface space, plus $1 per space per day to operate. And all that’s before taking into account the carbon impact.
Assuming 2 rides/weekday/space, and given ST’s 3.6% bond rate, my back-of-the envelope math suggests a cost per ride of about $6 for a garage space and about $2.30 for a surface one if we evaluate the investment over 30 years. Although that doesn’t take into account the land that, if developed, would otherwise generate ridership organically, it isn’t clearly worse than some other access options like the Via Shuttle, currently clocking in at $13 a ride. But nothing beats reliable feeder bus service, bike and pedestrian improvements, and especially dense development. The last, when market-rate, actually has a negative net cost, which is hard to beat.