DEVELOPING A FEASIBILITY STUDY FOR SMART PARKING PUBLIC-PRIVATE PARTNERSHIPS (PPP)

The project involved conducting a comprehensive feasibility study for the potential implementation of a Smart Parking Public-Private Partnership (PPP). The focus was on exploring commercially viable smart parking solutions both for on-street parking spaces and a multi-level parking and mixed-use real estate development on land owned by the Municipality.

Our team initiated the project by conducting an extensive review of the existing parking infrastructure and future demand projections. We also undertook a detailed study of the potential technologies that could be utilized in smart parking, such as sensor-based parking guidance systems, automated payment methods, and mobile app integrations.

We examined the financial, technical, and operational feasibility of the proposed smart parking solutions. This process included a rigorous cost-benefit analysis, assessment of regulatory implications, and exploration of potential partnership structures under the PPP model. We also looked at how the smart parking development could be integrated with mixed-use real estate development on the municipality’s land, providing an added source of revenue.

The study provided a strategic roadmap outlining the best approach for implementing the smart parking PPP, including suggestions for potential private sector partners, strategies for stakeholder engagement, and a timeline for the project’s execution.

This case study delves into the process of conducting a feasibility study for a smart parking PPP, examining the methods employed, the challenges encountered, and the results achieved. It provides valuable insights into the potential of smart parking solutions as a source of public sector revenue and as a tool for improving urban transportation systems.