Sound Transit has signed a lease agreement with Salish Crossing, LLC, to provide 53 temporary parking spaces next to the Edmonds Sounder Station starting Monday morning, Dec. 3. The additional parking at 190 Sunset Ave. S. will supplement 156 spaces already provided at the station while Salish Crossing builds a 103-space surface lot under a separate, five-year lease agreement.
The temporary parking spaces will be available for commuter use until the larger lot opens May 1.
What a great deal for Salish Crossing. When all 103 stall are in operation that is $165,000 new revenue for the rental. Sound Transit is paying $7.14 per stall per day and the revenue assuming one person per stall with a pass will be $6.00. $7.00 of full fare. Unless we get multiple riders per stall and all stalls get filled Sound Transit will pay more than it gets in revenue.
On Nov. 5th the Everett Herald reported that Sound Transit has agreed to pay $150 per space per month, for a total per year of $185,400, to Salish Crossing, LLC for the parking.
That is $20,000 better than I reported. Good for Salish.
Hopefully Sound Transit will find a way to charge for parking or the taxpayers will be bearing an even bigger subsidy. Charging a fare that does not even cover the cost of the parking is pretty ridiculous.