NYC’s Metered Parking Could Expand by $1.3 Billion, Study Suggests

A recent study indicates that New York City could increase its revenue from metered parking by up to $1.3 billion annually if it significantly expands metered spots. The administration of Mayor Zoran Mamdani agrees that adjustments are necessary.

However, local businesses and residents are vocal against the proposal, arguing that the far-left mayor is merely seeking ways to fund his promises of free services. Marcel Crandon, a 56-year-old manager of an extermination company in Bed-Stuy, Brooklyn, expressed frustration, claiming, “This is just a money grab for promised freebies and, as always, it’s at the cost of poorer neighborhoods!”

The think tank, Center for Urban Futures, asserts in its report that increasing the costs for parking in commercial areas could greatly benefit city finances, promote local business sales, and reduce congestion caused by drivers searching for parking.

Currently, New York City boasts over 12,000 miles of curbs, featuring more than 3 million on-street parking spaces. Yet, only around 80,000 of those are metered—less than 2.5%. The report suggests that the number of metered spots should rise by at least 25% to achieve both financial and congestion goals.

Moreover, the report proposes implementing peak-hour fees for on-street parking as a way to build on the existing congestion pricing program. Although the city previously experimented with peak meter rates during ex-Mayor Michael Bloomberg’s tenure, that initiative was ultimately abandoned due to unpopularity.

The think tank lamented, “This is a costly missed opportunity,” noting that the current parking meter program generates about $258 million yearly, a figure that has seen little growth over the last decade when adjusted for inflation.

A City Hall representative acknowledged the idea of more metered spaces, stating that Mayor Mamdani is open to revising New York City’s parking regulations. They noted that parking rules haven’t significantly changed since the 1950s, when overnight parking was legalized, while city streets have evolved.

“With rises in delivery services, cycling, and outdoor dining, curb space is now truly contested,” the spokesperson added, emphasizing the administration’s commitment to revamping curb management strategies for the benefit of all New Yorkers.

Specifically, the report highlights a four-block stretch of Nostrand Avenue, which lacks meter parking even though it has multiple businesses and is near the Bed-Stuy Gateway Business Improvement District.

Local store owners and residents counter the proposals; they believe adding meters will hurt businesses and increase traffic. Maurice Brown, a barber in the area, stated, “If we did that, all these little businesses would go out of business.” He worries that metered parking could deter customers who prefer not to pay for parking or risk getting a ticket.

Brian Nieves, who works at a nearby deli, also voiced concerns that metered parking would simply push customers to park farther away, exacerbating the already challenging parking situation. “There are no spots on my block right now,” he remarked.

Miriam L., a mother of two, expressed that if meters were added on Nostrand, finding parking in a residential area would become unbearable. “This is a residential area. Try this little experiment somewhere else!”

The city’s parking fees vary by location: Midtown and Downtown Manhattan charge $5.50 for the first hour, while areas like downtown Brooklyn and parts of Queens charge $2.50. Other retail zones set rates at $2 for the first hour and $1.50 in some metered lots.