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ParkCo – Capitalizing Parking Capacity Using Technology

By April 2, 2020 April 25th, 2020 No Comments

ParkCo's Propeitary TechnologyParkCo presents a new parking opportunity using technology proprietary to ParkCo, that meets the ever-evolving habits of tenants.

ParkCo’s proprietary solution uses analytics and technology exclusive to ParkCo, to identify each building’s unique parking usage profile.

The resulting insights drive actionable recommendations around:

  • Real Time Price Optimization for Visitor / Transient Parking Using ParkCo’s technology
  • Optimizing The Mix Between Different Stall Uses
  • Over Selling Underutilized Stalls Using Analytics and ParkCo’s Proprietary Technology
  • Entering into a Head Lease with ParkCo for Underutilized Stalls

ParkCo’s proprietary technology is:

  • Wireless, low power sensors are installed on each parking stall
  • Sensors are surface mounted indoors and asphalt embedded outdoors
  • Stall status is continuously communicated to the LoRaWan Network gateway
  • Site doesn’t require Wi-Fi connectivity

With ParkCo’s solution:

  • Under the head lease arrangement, ParkCo absorbs 100% of the cost of hardware, install, monitoring, leasing, enforcement and ongoing relationship management.
  • The landlord simply collects their monthly rent from ParkCo.

Optimizing The Stall Mix

  • The dashboard can segment and track the utilization of different stall uses
  • The dashboard presents a recommendation to reallocate stalls between uses to optimize the garage’s revenue yield

Pricing Optimization

  • Machine learning trains our algorithms to predict an optimal pricing strategy for visitor parking
  • Similar to the airline and hotel industry, real time pricing recommendations are presented to optimize the overall revenue yield of the garage

ParkCo’s current client roster includes: Skyline, Starlight Investments, SudGroup, GWL Realty Advisors, Zehr Group, and Timbercreek.

Interested in finding out more about ParkCo’s proprietary technology? Or do you have questions about data integration, implementation time, or pricing using ParkCo’s technology? Contact ParkCo here.

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