Bayside Centre: Fears new 8 storey tower will drive up parking prices
The cost of parking in Frankston’s CBD has risen up to 75 per cent in the past five years. Here’s why it may keep going up.
South East
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A $116 million eight storey office and commercial tower approved for Frankston’s Bayside Centre will drive up already high parking fees in the CBD, a lobby group has warned.
The Balmoral Street expansion was one of six major projects in metropolitan, rural and regional Victoria granted priority approval by Planning Minister Richard Wynne in a bid to create jobs and bolster Victoria’s economic recovery.
The Committee for Greater Frankston said while the development was a “big private investment tick” for Frankston’s languishing CBD the lack of parking was a “major flaw”.
Committee chief executive Ginevra Hosking said the building – which would accommodate 1470 workers but included just 85 new parking spaces – failed to take into account a chronic lack of affordable parking in the city centre.
Ms Hosking said the development would provide 389 fewer parking spaces than required under planning law.
It was approved based on previous studies that found a minimum of 578 vacancies in the shopping centre at any typical trading time.
A Vicinity spokeswoman said when the expansion was completed the Bayside Centre would have more than 3500 spaces across seven carparks.
“As part of the planning process a professional traffic engineer determined that Bayside’s car parks will have ample vacancies to accommodate the parking demand of workers during our quieter Monday to Friday hours,” she said.
However Ms Hosking said parking was too expensive for many locals and prices were kept high to stop commuters and office workers filling spaces.
“Surely the government knows basic economics? That if you overprice something, it will be
underused?” she said.
Ms Hosking said the committee feared increased demand for existing spaces when the new tower opened would lead to even higher parking prices.
“They have a monopoly on parking and our concern is that the prices will keep going up in a bid to preserve parks for office workers,” she said.
Since July 2015 Bayside Centre’s standard parking fee has risen from $1 to $1.50 for the first hour and $10 to $15 for daily parking representing a 50 per cent price hike.
The cost of parking in the centre for three to four hours rose by 75 per cent from $4 to $7 over the same period.
“These price rises have made parking in central Frankston among the most expensive of Melbourne’s suburbs – all in an area that is well known for its low socio-economic status,” Ms Hosking said.
A Vicinity spokeswoman said Bayside Centre car spaces were reserved for customers and an “affordable rate” had been set to accommodate the average 90 minute stay.
The Leader understands Frankston Council wrote to Mr Wynne asking him to reject the new tower due to insufficient parking.
Frankston Council chief executive Phil Cantillon said the new council was currently being inducted and would be briefed and asked to consider its position on the matter “in due course”.
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