Good article about demand-priced parking.

From Xerox.com:

Why does parking matter so much? What’s the impact of parking on city architecture and quality of life?

In most cities, the footprint of parking is bigger than that of any other land use. Parking spaces are also the most uniform and most frequently rented pieces of land on earth…

Cities should charge the right prices for on-street parking because charging either too little or too much can do great harm.

If the price is too low and no on-street spaces are vacant, drivers searching for a place to park will congest traffic, waste fuel, and pollute the air. If the price is too high and many on-street spaces are vacant, adjacent businesses will lose customers, employees will lose their jobs, and cities will lose tax revenue.

Consequently, the right price for on-street parking is the lowest price that can keep a few spaces open to allow convenient access for motorists. This is the Goldilocks principle of parking prices.