Ride sharing helps urban developments - by Rick Kaplan

I can’t find a parking space, all of the parking garages are full, it’s pouring out and cold and I don’t want to walk. I think these things happen to everyone who works, lives or plays in the city. But Uber, Lyft, ZipCar and other ride sharing companies have been a game changer for urban transportation.

More and more people are using ride-sharing, it has been so popular in the city that suburbanites are also using the services because of the convenience and low cost. The services that are offered can sometimes be less than public transportation and a better experience. So how does this affect commercial real estate? Simple, eliminating the stress of the parking in the city, finding a garage near destination, pick up and drop off door to door, no monthly parking fees and for some living in the city, no need to own a car. The transportation to bring employees to an urban office can be less costly, the cost of not owning a vehicle in the city makes renting or buying in the city a little more affordable.

Now with more cars on the road and less parking in the cities the service is working well and growing. It is also a great benefit to bringing shoppers into the city or even the suburbs who just want to eliminate the hassle of parking. Don’t forget that it takes the worry out of going out for the night for dinner and drinks with no worries about OUI’s. The services continuously keep improving and help developers build with less concerns with parking and transportation needs. Bottom line, ride-sharing economically makes a lot of sense and provides a great convenience to residents.

Rick Kaplan is media director at the New England & New York Real Estate Journals, Norwell, Mass.