Spokane, Wash. – Parking garage business performance during the month of February continued its dynamic upward trend, posting significant increases in same month comparisons, according to figures released by River Park Square parking garage operators today. 

More than 63,500 cars utilized the parking facility last month, generating over $155,000 in gross revenues.  These latest figures represent an increase in garage use of 28 percent, and an increase of 37 percent in gross revenues, compared to February 2000.        

Since River Park Square opened in August 1999, monthly parking garage utilization and gross revenues have exceeded the previous year by significant margins, however revenues are still short of covering expenses.

“The parking garage is continuously improving its business performance as more people take advantage of our renewed downtown, a revitalization effort that the City of Spokane and our entire community is benefiting from,”said Les Weatherhead, counsel to River Park Square.  “The River Park Square developer looks forward to a time when it can work with the City to improve revenue performance through a comprehensive downtown parking management system and enhanced validation program. “ 

Weatherhead added that the developer continues to be open to discussing with the City sound business solutions for downtown parking.  

 River Park Square and surrounding downtown businesses serve a regional market of more than 1.7 million people.  The new retail center 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.