Colorado Real Estate Journal - August 3, 2016
With 16 million annual visitors, the Cherry Creek Shopping Center is one of the most popular attractions in the Denver area. Starting in January, though, the shoppers will be paying for something, which until now has been free: parking. The first hour of parking will be free and the second hour will cost $3. Customers will pay a maximum of $16 per day at the mall at 3000 E. First Ave. In late July, officials announced they will be installing a state-of-the-art “Smart Parking” system to ensure shoppers and diners have easy, accessible parking at all times. As part of the program, all parking decks and surface lots will be transitioned to a paid parking system next year. The majority of the work is expected to be completed by year-end, with the new parking rates going into effect in January. The innovative, high-tech parking system will provide numerous conveniences to shoppers. At each parking entry point, customers instantly will know space availability within the decks and surface lots through digital signage, and they will be directed to the most convenient spots. In addition to the space location technology, customers can quickly locate their parked vehicle by accessing kiosks stationed at various mall pedestrian exits. Nick LeMasters, general manager for Cherry Creek Shopping Center, said available parking at the center has become a concern for customers. “The Cherry Creek neighborhood continues to experience dynamic growth to the point where parking spots are coveted,” LeMasters said. “The result is that the center’s lots are heavily used by customers, but also by those not shopping at the center,” he said. “Our top priority is to make sure our customers have the best possible experience when they visit,” LeMasters continued. “This includes having easy access to parking and entrance to the mall, so the implementation of this parking program became essential,” he said. According to the International Parking Institute, innovative technologies to improve parking access control is an emerging trend in the U.S. LeMasters said he would expect there may be some initial “push-back” from some customers who are accustomed to free parking. The mall was opened in 1990 by Bloomfield Hills, Michigan based Taubman. However, he said he thinks most people will soon appreciate that parking and exiting the garages will be less of a hassle, with all of the features of the new system. In addition, with many more cameras in the garages, security will be enhanced, he said. Cherry Creek also will benefit internally. For example, LeMasters said they have no idea of the historic occupancy and turnover rate in the garages. “We have had no way of measuring those types of things,” LeMasters said. “Now, we will.” They also can’t track how long a typical shopper spends in the mall. LeMasters thinks it is all over the map. Some people are shopping for a specific item and want to get in and out very quickly. Others are coming to the Cherry Creek Shopping Center for dinner and a movie and will spend considerable time in the mall, he noted. Speaking of the movie theater, he said that it will validate parking tickets for those catching a flick. Other retailers can contact LeMasters’ office to learn how to validate parking for customers. Charging for parking is a growing trend of urban and urban-style shopping centers, he said. Suburban shopping centers, typically with more land available, almost always still provide free parking. Some of the nation’s largest cities, including Denver, have implemented strategies to help optimize parking inventory. Cherry Creek Shopping Center is also exploring opportunities to help reduce traffic congestion around the center through the use of alternative transportation choices. Cherry Creek Shopping Center’s parking rates will be among the lowest in the surrounding area. Parking will be complimentary and fees will be waived during community events, including the Cherry Creek Fresh Markets, Cherry Creek Arts Festival and Cherry Creek Sneak. All Cherry Creek Shopping Center employees will park for free. About 3,000 people work in the 140-plus stores in the center.