Tower Investments is a leading developer of retail, entertainment, mixed use, residential and commercial properties. In May 2022, AirGarage submitted a proposal to Tower Investments to take over management of one of their properties, an 800+ space parking garage located in the heart of Philadelphia. Tower Investments felt removing their access gate system and the full-time attendants was a considerable risk that could lead to more violators and decreased revenue. However, they decided to give AirGarage a chance to implement their end-to-end parking management solution.
The parking garage at 1601 Callowhill St in Philadelphia had relied on a gate system and full-time attendants to manage their parking operations. Having an access gate and an attendant on site provided a feeling of security for ownership, but the system was outdated and labor costs were high.
The access gate also had frequent technical issues that frustrated drivers, leading to long lines entering and exiting the garage. Another challenge was that the previous parking management company was primarily cash-based, which made it difficult to track usage accurately and left the garage vulnerable to revenue leakage. Last, the revenue generated by the parking garage had been flat for years while operating expenses continued to increase.
Tower Investments needed a parking management solution that would allow them to keep their customers happy without sacrificing security and enable them to accurately track payments and usage while maximizing the garage’s net operating income.
AirGarage immediately began making changes to streamline the garage’s operations while delivering an incredible customer experience.
AirGarage installed a state-of-the-art License Plate Recognition (LPR) system, removing the need for a gate system and a full-time attendant. AirGarage’s LPR solution automates parking enforcement by scanning the license plate of every vehicle that enters the parking facility and deploying enforcement teams anytime non-paying vehicles are detected. AirGarage’s LPR solution is an always-on, software-based enforcement system that allows property owners to decrease violator rates, see detailed usage data, and improve the customer experience while reducing labor and hardware expenses. Drivers no longer need to deal with broken gates or waiting in long lines thanks to having their parking rentals started and ended automatically as they drive past AirGarage’s cameras.
AirGarage also replaced the cash-based system with fast and secure mobile payments, making it easier for drivers to pay for parking. The mobile payment system connects to AirGarage’s owner dashboard, enabling the property owners to access detailed financial reports and track revenue in real time.
Tower Investments immediately saw the positive results they were hoping for when they partnered with AirGarage. The transition has been so successful that they plan to introduce AirGarage at additional properties.
The initial concern that a gateless system would lead to more non-paying drivers and less revenue has been settled. AirGarage’s gate-free, attendant-free enforcement system has been incredibly effective, and revenue is higher than ever and continues to increase each month.
Overall, AirGarage's end-to-end parking management solution proved to be an ideal fit for the Tower Investments garage by increasing its revenue, streamlining their parking management, and delivering an exceptional driver experience.
