A parking lot price hike

Posted 11/16/23

The Chestnut Hill Parking Foundation Board of Directors recently voted for an increase in hourly parking rates effective Nov. 3. 

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A parking lot price hike


In 1952, local businessman Lloyd Wells imagined the future of shopping in America and from that vision the Chestnut Hill Parking Company was formed.  In his 48-page report on June 12, 1952, Wells and the Chestnut Hill Shopping Center Development Group, outlined a plan to address the expanded reliance on the automobile and how that would impact the Chestnut Hill business community. The Chestnut Hill parking lot system was born and grew to a network of public parking lots managed and maintained by a small staff, dedicated volunteer board members and philanthropic property owners willing to contribute land at no cost.

 In the years since, the Chestnut Hill Parking Foundation (CHPF) has tried various parking payment scenarios, always in search of a way to create a sustainable model that could deliver on the initial mission of providing parking for shoppers and visitors.  In the past 20 years, the lot pricing has remained consistently very low, while the costs associated with providing affordable parking have skyrocketed.  City taxes, insurance, credit card fees, basic caretaking, maintenance, and security to keep the lots safe and functional have all risen to a point where the organization can no longer continue without a meaningful price adjustment.

Perhaps the Parking Foundation should have increased prices years ago and instituted an annual increase to keep in line with inflation and rising costs, but as we enter the last months of 2023, what is clear is that without a new pricing plan that allows the organization to cover costs and be prepared for added capital expenses, the CHPF parking lot system will not survive. Therefore, the Chestnut Hill Parking Foundation Board of Directors recently voted for an increase in hourly parking rates effective Nov. 3.  The new prices are posted on signage in all six of our managed lots, on the Chestnut Hill Business District website (chestnuthillpa.com) or when you log into the ParkMobile app.

The pricing for monthly parking passes has not yet changed; new pricing for monthly parking will be announced later this month and all current parking pass holders will be informed with advance notice. Our goal is to begin new monthly prices at the first of the new year. These prices will be kept at a bare minimum to ensure the survival of the parking system.

We recognize that change is difficult, but it is vital that we continue to provide sustainable parking options for those who are visiting Chestnut Hill to dine, shop and do business.

Thank you,

Chestnut Hill Parking Foundation Board of Directors

Barb Baumbach, Cynthia Fillmore, Pat Gallagher

John Ingersoll, Anne McNally, Ron Pete

Matt Rutt, Richard Snowden, Carol Warner