Jamestown Yields a 5x ROI After Digitizing Parking with Vend at Constitution Whard

The Challenge

Jamestown, a global, design-focused real estate investment and management firm, had the vision of improving the parking experience for tenants and visitors at Constitution Wharf. Their previous parking access and revenue control system was expensive to maintain, confusing for parkers to use, and often created frustration and traffic.

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The Solution

The key components of the solution include:

• Digital tracking and payments to ensure tenants are billed accurately for the parking they use

• Touch-less entry and exit gates to create an improved experience and a more efficient traffic flow

• License Plate Recognition (LPR) and digital touchscreens to eliminate the need and hassle of paper tickets

• Digital validation capabilities for local businesses and tenants to easily validate customers and visitors

• Flexible parking types including daily, monthly, and the addition of Flex parking options that allow tenants to share space allocations

• A configurable self-serve dashboard for the property team and tenants to manage the parking location and allocate parking passes

• A robust reporting dashboard to instantly access revenue data and utilization by rate type, date, time, tenants, location, and more

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To implement the solution, Vend worked closely with the Constitution Wharf property team and VPNE to ensure the unique needs of the location and tenants were incorporated. During the installation, theVend team replaced all of the existing equipment, upgrading all the lanes to new state-of-the-art technology including new parking gates and loops, cameras, and smart parking digital display.  The Vend team also identified an opportunity to enhance the overall traffic flow and provide additional value by laying extended concrete to the lanes, which allowed for a better traffic flow and for the installation of a bi-directional middle lane.

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"The transition to Vend has been seamless and beneficial for operations. It has not only improved the experience for parkers, but also increased our efficiency."

- Nick Litton, COO (VPNE)

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The Results

• Increased customer satisfaction: Parkers appreciated the convenience and ease of the Vend system, leading to improved customer satisfaction.

• Eliminated maintenance costs: The property received new Vend parking kiosks, LPR cameras, and system maintenance at no cost, eliminating over $23,000 a year in maintenance costs and paper tickets.

• Improved traffic flow: Touch-less entry and exit gates improved traffic flow within the parking facility. By allowing customers to provide payment ahead of time and reducing the hassles associated with ticketed exits, Vend decreased the exit time by an average of 23 seconds.

• Increased revenue: Transactional revenue increased over 10% and there have been additional revenue opportunities identified to continue to grow that number in the future.

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"The Vend system has been a valuable tool for us. It has helped to improve customer satisfaction, traffic flow, reduce costs, and increase revenue. If you are looking for a modern and efficient parking management system, Vend is a great option."

- Carrie Denning Jackson, Director of Innovation (Jamestown)

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Conclusion

The adoption of Vend's digital parking solution has transformed parking management at Constitution Wharf, benefiting building owner Jamestown in multiple ways. With increased customer satisfaction, improved traffic flow, reduced operating costs, and revenue growth, Vend has proven to be a modern and efficient parking management solution for real estate asset managers like Jamestown.

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"Vend Park has made using the gate an easier experience for our families.  Nothing is worse on a rainy day then to get your child buckled into the car and realize you have lost your paper ticket to exit the parking.  With the new system, it makes it easy to scan the validation code in the center on their phones and easily exit at the gate, no more paper tickets."

- Laurie Seitz, Center Director, Bright Horizons (Tenant at Constitution Wharf)