Event Parking Rate Increase for Fiscal Year 2024 (FY24)
- All event rates will increase in FY2024. Full day event parking will increase from $10 to $14 and half day event parking will increase from $8 to $10.
- The increase will take effect on July 1, 2023. The new rates were approved by the Chancellor and Board of Trustees (BOT).
- Event parking rates last increased on July 1, 2018.
- There is no increase in paid visitor parking rates in FY24. The rate remains $2 per hour.
Why do parking rates increase?
In addition to paying down the debt incurred from building parking garages, the costs for operating and maintaining a parking system with more 5,900 spaces, including 7 parking structures, 60 off-street lots, and other spaces across the campus, are significant. These costs increase over time due to inflation, and as parking assets age, maintaining becomes more expensive.
Why did rates increase by the amount they did this year?
DU is committed to supporting sustainability, as outlined in the University of Denver Sustainability Commitment. Reducing greenhouse gas emissions and achieving carbon neutrality by 2050, requires a holistic approach if we are to reach those objectives. Setting parking rates so that they encourage travel mode shift, away from single occupant vehicles, and to more sustainable modes such as transit, cycling, ride share, car sharing, and walking, supports the University in achieving its sustainability commitments. The new Residence Hall and Community Commons are being constructed on four existing parking lots. Besides reducing the physical inventory of parking spaces, those lots were highly utilized and generated significant revenue. The rate increases for this fiscal year will offset some of the lost revenue.