7.3 million euros lost - The phantom parking area in Regensburg
This story is about a controversial parking garage called "TechCampus" in Regensburg, Germany, which opened in December 2022 with 377 parking spaces. With a price tag of 7.3 million euros, it seemed like a good idea at the time. However, its location in an area with several companies that have their own underground parking spaces, as well as a nearby free parking lot, resulted in very poor demand. The occupancy rate has been estimated at around 10% in December 2023, which is considered good considering the low usage.
According to Green city councillor Christoph, who analyzed the occupancy figures, over 40% of the "TechCampus" employees commute to work by car. This is much lower than the typical 70% at other commercial locations. Despite this low demand, the city of Regensburg intends to publish a development concept for commercial space in 2020.
City spokesperson Martin Gottschalk reports that the first year of operation in 2023 generated about 30,000 euros in revenue from long-term parkers and short-term parking. They expect this to double in 2024. There are currently 94 long-term parking contracts, which account for just 25% of the available parking spaces. These spaces cost about 60 euros per month, resulting in a monthly revenue of 5,640 euros. Considering the high construction costs of 7.3 million euros, 94 long-term parkers would have to park permanently for over 107 years to make back the investment. Operating costs in 2023 totaled 113,000 euros, indicating that it may be many years before the parking garage begins to turn a profit.
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Source: symclub.org
