Spokane, Wash. – River Park Square parking garage operators released figures today for parking garage utilization and revenues for the month of January, which reflect the steady upward trend in the facility’s business performance. 

More than 68,000 cars used the parking facility last month, generating over $169,000 in gross revenues.  These latest figures represent an increase in garage use of 28 percent, and an increase of 39 percent in gross revenues, compared to January 2000. 

January is the fifth consecutive month to post significant increases when compared with the previous year.  It follows this past November and December as generating the highest monthly gross sales revenues in the history of the parking garage. 

“There’s a lot happening at River Park Square.  There’s lots to see and do with the range of shopping, dining and entertainment,” said Les Weatherhead, counsel for River Park Square.  “Clearly, the parking garage is benefiting from the increased activity downtown.  The downtown revitalization that the City bargained for has been and continues to be a huge home run for the City.” 

While garage use has increased steadily and is approaching projections for usage, revenues are insufficient to cover operations, land rent and bond payments.  Changes in the garage rate structure, modified by the PDA, and in the downtown parking validation program have contributed to the shortfall.

“The developer continues to believe there are sound business solutions that can solve the revenue problem with the garage,” Weatherhead added.  “We need to create a parking strategy for all of downtown that will work as a comprehensive system.  We need to address the downtown validation program and we need to look at ways that will generate more revenue for this garage.  All of these things are achievable if the City will work together with us, something we are still hoping for.” 

River Park Square and surrounding downtown businesses serve a regional market of more than 1.7 million people.  Since the retail center opened in August 1999, it has generated more than $5.4 million in tax and fee revenues for the City of Spokane and City services, created and retained more than 800 jobs, and has served as a catalyst for downtown revitalization.  Since River Park Square opened, more than $250 million in new downtown construction projects have been announced or moved forward.