As Lyft and Uber race toward IPOs this spring, Americans are relying on the ride-hailing services more than ever, and as a result, city parking garages and airport parking lots are a bit emptier.
A new study published in The Journal of Transportation and Land Use aims to understand how parking demand is changing as people opt to hitch a ride and leave their cars at home.
Researchers from the University of Colorado Denver found that people who use ride-hailing are willing to pay more to avoid driving, including the stress and cost of parking. [Read more…] about Cities rethink parking as ride-hailing grows and parking revenue declines