Henrietta & Calhoun Street is a 175-space parking lot linked to the Citadel Square Church in Charleston, located in a vibrant neighborhood with historic homes, the College of Charleston, Cooper River views, Marion Square, cultural attractions, and diverse dining and shopping options. Initially facing challenges with enforcement and underutilization, the church partnered with AirGarage to optimize the lot's operations. Through strategic enhancements including increased enforcement, improved marketing, additional signage, and a dynamic pricing system, the parking lot saw a significant increase in bookings and revenue.
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Charleston, SC, USA
Surface Lot
Despite its prime location, the church faced several challenges in monetizing the property. The previous operator struggled with enforcement issues, particularly with preventing people from staying overnight into Sundays. This not only caused operational headaches but also limited the lot's revenue potential.
The church leadership believed that with improved signage and operational adjustments, the parking lot could see increased demand and, consequently, higher revenue. They were particularly interested in strategies that could address the enforcement issues and make the lot more appealing to both daily and transient parkers, optimizing its use and profitability.
AirGarage identified ways to increase bookings, which included increasing enforcement, boosting online marketing, adding more physical signage, and improving pricing strategies. AirGarage’s dynamic pricing system, which automatically adjusts the rate for every driver based on real-time occupancy, was the perfect lever to grow revenue. Prices increase when spaces are in high demand and decrease when occupancy was low—capturing more value from drivers during peak hours and attracting others with more competitive pricing during slower periods.Additionally, AirGarage’s visitor and event system allowed church staff members and patrons to receive free parking and gave the church staff total control of how many spaces they wanted to sell that day.
After AirGarage implemented these changes, there were immediate positive results. Not only was better pricing a factor, but Daily / Transient demand increased from 700 average bookings a month to 1,200.Within the first two months, revenue increased 68% from $22.8K to $38.5K a month (or $462K annually). This increase represents $273.6K of added revenue a year, proving the church leaders’ suspicions correct that the property could be generating additional funds.
