Learn how custom solutions designed by ParkCo can increase your parking revenue.
Residential Parking Solutions from ParkCo
ParkCo has revenue-optimized solutions for all types of residential parking applications.
ParkCo Insight™ has been designed with all parking applications in mind. Whether your parking asset is a multi-level floating garage (above or below grade), surface lot, gated or non-gated, secured or non-secured, ParkCo has the solution to optimizing your parking revenues and increasing your parking asset value.
Residential Condo &
Apartment Parking Lots
Mixed-use Residential &
Office Parking Lots
Mixed-use Residential &
Urban Retail/Commercial
ParkCo has a solution that fits. Learn more by reading some residential case studies below:
Residential Case Study #1
Case Study: Managing mixed residential and commercial parking to optimize capacity.
Description of Property:
Single residential condo high-rise shares its parking facility with ground floor retail and nearby offices. The parking is a floating, underground garage structure with 197 parking spaces. Transient visitor parking is also included due to its downtown location.
Challenge + Opportunity:
The garage experienced challenges with violating vehicles parking in unpermitted areas, and for long periods of time. ParkCo’s software collected and analyzed data for 8 months to discover that the parking garage experienced an average of 43% vacancy during the daytime. On-going monitoring to notify management of real-time violations was also installed. Insight’s algorithms identified significant “untapped” daytime capacity in the garage, allowing for the sale of additional parking passes.
The Success
The ParkCo Insight™
product suite used:
InsightDetect, InsightRoute,
InsightMonitor and InsightPay
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Customizing the Mix of Suite Tools:
InsightDetect captured usage data from each parking space. InsightRoute provided efficient use for users. InsightMonitor was installed to manage compliance in the garage. InsightPay was installed to offer cashless and touchless convenience for users and simplify payment systems for Management.
Analyzed Data to Optimize Profits:
Eight months of ParkCo’s software analysis determined that the parking lot experienced 46% vacancy, Monday-Friday. This analysis lead to the opportunity to sell more passes to tech companies located nearby, optimizing the capacity of the parking garage.
Created Operational Benefits:
• Violators inside the garage were reported real-time to property management for immediate infraction intervention
• Removed the need for on-site parking attendant
• InsightSecure LPR cameras ensured tenants could enter seamlessly and with minimal delay
• InsightRoute provided efficient use for users.
Residential Case Study #2
Case Study: Optimizing garage capacity while managing compliance of non-licensed users.
Description of Property:
Single residential tower with floating, underground garage structure containing 190 parking spaces, located in busy downtown core with many nearby tech firms.
Challenge + Opportunity:
ParkCo Insight™ collected data during a 7 month period. Analytics determined that the parking garage was experiencing an average of 37% vacancy during the typical workday. The software recommended that by using complex ParkCo algorithms, this under-utilized daytime capacity in the garage could be filled by selling additional passes to offices next door.
The Success
The ParkCo Insight™
product suite used:
InsightDetect, InsightRoute,
and InsightSecure
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Customizing the Mix of Suite Tools:
InsightDetect sensors were installed to capture usage data from each parking space. InsightRoute was used to provide a positive experience for users, directing them quickly to available spaces and EV charging locations. InsightSecure was installed to manage permitted entrance and compliance in the garage.
Analyzed Data to Optimize Profits:
Algorithms were created to manage the mixed use by residential licensed users and the additional licensed users working in nearby offices. This increased learning lead to increased revenue.
Created Operational Benefits:
• Eased congestion in the garage
• Reduced parking violations
• InsightSecure LPR cameras ensured tenants could enter seamlessly and with minimal delay
• The ParkCo Go app provided access for users in the rare event of an InsightSecure plate read error. Additionally, the ParkCo Go app provided user benefits including real-time EV parking space visibility and the ability to register visitors in advance.
