Occupancy rates at municipal garages in Des Moines have only partially recovered from a steep decline during the pandemic.
Why is this important: This costs the city millions of dollars in annual revenue.
- The garages, all located downtown, reflect people’s slow return to the heart of the city’s business district.
By the numbers: Parking lot revenue grew from just over $7 million in the fiscal year that ended June 2019 to $4.2 million in 2021, according to city data.
- Metered on-street parking increased from $4 million to approximately $2.6 million during this period.
What they say : City officials said in a budget submission in February that they don’t expect Des Moines to see a full recovery of the parking system for at least two years.
- The city has been discussing getting out of the garage parking business for years, Councilman Joe Gatto said at the meeting.
To note : The city’s eighth and newest garage — a $42 million structure near 5th and Walnut streets that opened in July — isn’t included in the latest earnings report.
🌱
Support local journalism by becoming a member.
Learn more
Continued monks stories
No stories could be found
Get a free daily digest of the most important news in your backyard with Axios Des Moines.
🌱
Support local journalism by becoming a member.
Learn more