Your dreams of finding better and/or cheaper NYC parking faster is one step closer to coming true. Streetline, a company we’ve written about before, just got a $25 million line of credit from Citibank. Here’s the scoop:
When Streetline moves in to a town or NYC, it puts sensors in every NYC street parking space. When you park, a real-time database knows that space is occupied. Ideally, you can register your car and pay remotely, and even add more time to the meter up to the maximum time you can park at that NYC parking meter.
All that real-time data will tell the city where there are available spaces to park on the street, and where the streets are full. The city can raise or lower the street parking meter rates to balance out the supply and demand so there is an occupancy rate of 70%, or 80%, or the level that is appropriate to make sure that you can find a parking space. Kind of cool, huh?
The next step is to involve NYC parking garages, so you can choose to search for street parking or get a guaranteed space in a NYC parking garage. It might cost more that parking on the street, but you’ll save heaps of time circling for a spot.
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