The endless search for a parking spot in the city may be a thing of the past—in San Francisco, at least. After years of preparation, the city is now rolling out SFpark, a high-tech new system that will set the price of parking spots according to supply and demand.
The San Francisco Metro Transit Authority (SFMTA) has begun testing a new supply and demand based parking meter system at 6,000 of its 25,000 metered parking spots in conjunction with the U.S. Department of Transportation’s Urban Partnership Congestion Initiative. Phase one of the SFpark project, a two-year, $27 million federally funded program, is currently underway in Hayes Valley, with the installation of the first 190 meters over the past two weeks.
The system uses electronic sensors to measure the call for parking slots in real time, and prices them accordingly. So lots of empty parking spaces means you can pay as low as 25 cents an hour, while those looking to park when space is at a premium will have to shell out $6 an hour. The system is expected to increase revenue from parking meters, but decrease revenue from traffic tickets.