Challenge
Located along the Potomac River, the District Wharf is a vibrant community offering a mix of residences, offices, hotels, event venues, restaurants, retail, and outdoor recreation. The Wharf’s garage, a 1,466-space, two-level, underground structure spanning the entire development, serves all types of customers. To provide a seamless parking experience, protect and monitor multiple revenue streams, and ensure high-caliber service, Colonial Parking® implemented a complex technology strategy which serves as the heart of the operation.
Approach
Colonial began working with the Client during the site’s development to provide expert consulting on the selection, procurement, installation, and programming of all parking equipment, including the Parking Access and Revenue Control System (PARCS), space guidance, and security equipment. As one of our most technologically advanced locations, the Wharf’s garage utilizes license plate recognition technology to track overall occupancy and directs customers to available spaces. This system has the added benefit of enhancing security, as cameras monitor each space at all times. Nested areas provide guaranteed parking for residents and hotel guests. Additionally, the Parking Access and Revenue Control System (PARCS) not only reads access cards and tickets, but also scans online reservations, easing the parking process for event-goers. The entire system is monitored and controlled 24/7 by an on-site Command Center staffed by Colonial employees to respond to any parking issue.
Results
Within six months of opening, the garage exceeded its first-year financial performance goals. Our Pricing and Yield Management Team continually monitors occupancy and financial performance to recommend rate changes that will further encourage transient turnover and drive revenue. Our on-site team also plans for and maintains efficient operations during large-scale events, such as the Cherry Blossom Festival, Fourth of July, and Parade of Lights.
