Transportation
Downtown Columbus Will Buy Bus Rides For 43,000 Workers
Property owners in the Ohio capital's core are rethinking the relationship between cars and jobs.
Despite a surge of redevelopment in downtown Columbus, office rents are tumbling and vacancy rates are on the up. The problem, business leaders say: Lack of parking.
A structured parking space in the Ohio capital’s space-crunched core runs nearly $25,000 a year, which typically isn’t covered by revenues. So developers feel hamstrung from building new garages, and the city is wary of subsidizing them; building to meet parking demand, after all, is an exercise in futility. Meanwhile, employers fear they’re losing ground to suburban competitors.