Momentum Developments, a Southern Ontario-based urban developer, has selected eleven-x’s intelligent parking solution to help them track and optimise the usage of their commercial parking assets.
The solution includes the real-time tracking of space availability status, as well as retaining historical usage data for each of the spaces. The result of the data collection is the development of a comprehensive parking profile based on the usage of each space and enables Momentum to make data-driven decisions on the number and type of spaces needed, as well as potential requirements for future developments.
Momentum owns and manages several commercial properties in Southern Ontario and each of these developments includes occupants that are comprised of both residents and commercial retailers. As part of their development model, Momentum maintains the parking facilities as separate entities from the accommodation / retail structures.
Because of the diverse nature of the occupants, management of the parking assets is a key aspect of the holistic property management function and the solution from eleven-x allows Momentum an efficient way to monitor the usage of all types of parking spaces offered – from resident to visitor to electronic vehicles to commercial and accessible needs.
The initial integration has been deployed at the One Victoria Condominium development located in the Innovation District in the city of Kitchener. The premiere location contains approximately 200 undesignated or “floating” parking spaces, with about 95% of them being monitored as part of the first deployment.
The eleven-x solution is the first step towards monetisation of the fixed parking spaces, and the return on investment could be realised in less than a year. Monetising the parking spaces offers a potential new opportunity to generate revenue from existing assets for property owners. eleven-x has integrated a number of intelligent parking solutions, including existing deployments with the City of Stratford and the University of British Columbia.
“This solution from eleven-x allows us to understand how our parking facilities and assets are being used and to make better decisions on future requirements, which helps us optimise our parking assets while providing a great experience for all tenants,” says Brian Prudham, principal at Momentum Developments.
“Another key factor with this solution is that it’s not video based so there are no concerns with privacy issues, which is significant since as a developer, we are directly impacting people’s everyday lives and want them to have the best experience possible.”
“Our low power, wireless solution will help Momentum gain a true understanding of their parking assets and how best to support their tenant’s needs in a cost effective manner,” comments Dan Mathers, president and CEO of eleven-x Inc. “Additionally, collecting the parking space usage data will open up a variety of opportunities for them for future approaches to parking asset management. This is a very interesting use case that differs from our other parking deployments, so it’s great to work with such a forward-thinking organisation like Momentum.”
As a full-service solution provider, eleven-x enables the promise of Intelligent Cities, Buildings, Campuses and Enterprise IoT applications. Supporting the use of low-cost battery powered sensors, eleven-x LoRaWAN solutions, including their coast-to-coast network addresses applications where requirements include wireless connectivity, devices that require long battery life, no maintenance and a low total cost of ownership.