Colliers Report: City of Columbia offers parking options

Colliers Research & Forecast Report
Q2-2018 COLUMBIA | PARKING

Key Takeaways

• Columbia, SC’s vacancy rate for parking garages in the Central Business District remains low at 16.42%.
• A growing number of Columbia residents and increasing retail and office activity will raise the demand for parking in Columbia garages.
• The City of Columbia offers relief options to tight parking through the Soda Cap Connector and parking meters that accept online payments.

Downtown Parking Conditions

Columbia parking garages have limited spaces remaining for commuters searching for parking. The parking garage average market vacancy rate is 16.42%, with 2,074 parking garage spaces currently available within the Columbia market. Private garages have 149 reserved parking spaces and 878 unreserved spaces remaining; the private garage vacancy rate during the second quarter of 2018 was 12.33%. Remaining public garage parking spaces total 1,088 and the public garage vacancy rate is 23.45%. The minimum price for reserved parking spaces increased from $65.00 per month during the second quarter of 2017 to $75.00 per month during the second quarter of 2018. In addition to parking garage space, there are 13 public surface parking lots in downtown Columbia, with spaces that may be rented hourly, daily or monthly. The average monthly parking lot space prices range from $40 per month up to $300 for daily meter parking lots, paid on a monthly basis. There are currently 138 out of 1,005 parking spaces available in the monthly parking lots and a total of 166 parking spaces which may be purchased on a daily or monthly basis within the City of Columbia Passport lots. In addition, there are 133 two-hour-limit parking lot spaces.

Due to the lack of parking in Columbia, the region has upgraded the public bus transit system and parking meters in order to ease parking stress. The Soda Cap Connector is a free bus route that runs in two loops: one from the Vista to Five Points and back, and the second from the Vista to Taylor Street and back. Its added conveniences include free wifi and USB ports for electronic charging on the go. In addition, the buses are clean, equipped with security cameras and heat/air-conditioning for the comfort of the rider. The Soda Cap Connector makes it easier to park further away and still conveniently arrive at your desired Columbia location. In addition to enhanced bus routes, Columbia has upgraded the majority of its parking meters to accept payment by credit card via cell phone using the Passport Parking Mobile Pay online service.

Because of the growing number of downtown residents, a retail vacancy rate of 2.49% and the Columbia CBD office vacancy at 11.36%, parking demand is high. While parking remains a challenge in downtown Columbia, the City of Columbia is now providing parking options to assist Columbia commuters and residents combat the lack of available parking spaces.