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Solved: Eastern University faces a shortage of parking spaces and charges


Eastern University, located in the heart of a bustling urban area, has long been a hub of academic activities and cultural exchange. However, with the increase in student population, the university is facing a parking crisis. Many students and staff members are struggling to find parking spaces, and those who do find them are often forced to pay exorbitantly high prices. But instead of getting frustrated, why not turn this challenge into an opportunity for adventure? Read on to discover the best parking deals near Eastern University and explore the local area!

Parking Problems at Eastern University: A New Opportunity for Adventure!

The parking shortage at Eastern University is a well-known problem among students and faculty members. Many people are often forced to park far away from the campus and walk long distances to their classes and offices. However, this can actually be a great way to explore the local area and discover hidden gems that you might miss out on if you were driving.

For example, if you have to park a few blocks away from Eastern University, why not take a detour and explore the nearby neighborhoods? You might stumble upon a cozy coffee shop or a quaint bookstore that you never noticed before. Or, if you’re feeling more adventurous, you could take a stroll through a nearby park or nature reserve. Turning your parking problem into an opportunity for exploration can be a fun and rewarding experience.

Find the Best Parking Deals Near Eastern University and Explore the Local Area!

If you’re looking for parking near Eastern University, there are a few options to consider. First, you could try to find street parking, which is often free but can be difficult to come by. Another option is to use one of the many parking garages or lots in the area. While these typically charge a fee, you can often find deals and discounts if you do some research.

One great option for cheap parking near Eastern University is to use a parking app like SpotHero or ParkWhiz. These apps allow you to reserve a parking spot in advance and often offer significant discounts compared to on-site parking. Plus, they can help you discover new areas and attractions in the local area that you might not have known about otherwise.

So next time you’re struggling to find a parking spot at Eastern University, don’t despair! Instead, embrace the opportunity for adventure and discover all that the local area has to offer.

While parking shortages can be frustrating, they can also be an opportunity for exploration and adventure. By finding the best parking deals near Eastern University and taking the time to explore the local area, you might just discover something new and exciting. So get out there, park your car, and start exploring!

Eastern University faces a shortage of parking spaces and charges for parking. For nearby parking (e. g., behind the business school), faculty and staff pay $ 180 per year. Parking in lots Z and B, which are north and south of the campus and involve about a 10- minute walk to the business school, costs $ 124 per year.
In setting these prices, the university seeks to recover the costs of parking and to manage the queue of people wishing to park on campus. The current $ 180 and $ 124 fees cover the costs of surface spaces. Lots Z and B have lower fees to compensate people for the longer walks and to encourage them to park in outlying lots. University officials say this fee structure, when multiplied by the number of parking stickers of each type sold, covers the cost of running the parking office and building new spaces.
The cost of providing a parking space consists of costs of construction of the space, maintenance, and security. The construction cost is the annual amount required to repay the cost of grading, draining, and asphalting the space. Maintenance includes snow removal, line painting, fixing the gates after the arms are broken by irate faculty members searching for a space, and patching the asphalt. Security costs include all costs of the parking officers who ticket the cars of staff and students parked illegally.
The university recently evaluated a proposal to construct an enclosed, multifloor parking facility. Design estimates place the construction cost at $ 12,000 per enclosed space. The equivalent cost of a surface space is $ 900. The university uses a 10 percent cost of capital. ( Assume that this is an appropriate interest rate.) To compensate the university for the cost of the capital involved in building parking garages, parking fees would have to be at least $ 1,200 per space per year, as opposed to $ 90 per space per year for the surface space. Because the university does not believe that faculty, staff, and students are willing to pay over $ 1,200 per year for a covered parking space, no plans exist to build a parking building.

Critically evaluate Eastern University’s costing of parking permits. What do you think accounts for the university administration’s reluctance to build a parking garage?

Eastern University faces a shortage of parking spaces and charges


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