Millions are wasted factoring in parking for our built environment. Luckily there’s a remedy. Technology is unlocking savings, and there's no stopping it.
Everywhere you look, new high rise offices and apartments are being built around our cities, with hundreds of carparks needing to be factored in for the new building occupants. Not to mention, the construction workers means of travel and the costly congestion it can bring.
Technology was designed with the preface it would make our lives easier. Use these ideologies, apply them to building infrastructure and you will see efficiencies in construction, millions of dollars saved, and greener cities.
It has been reported that $57 Trillion is needed for global GDP growth by 2030. A staggering $1.63 Trillion can be saved annually by adapting newer practices.
Growth programs such as RealtechX are facilitating this change.
“Shaping the future of our built environment.” A tall order but a necessary one. This is the vision of RealTechX. Liftango was accepted into the RealTechX Program, alongside 11 other companies.
But what makes mobility solutions necessary for the future of our built environment? Our roads are broken, they are full of cars and not people, connecting more people with real people - will be the catalyst for change.
Let’s find out more about the role of Transport Infratech.
What is Infratech?
Infratech is defined as the integration of digital technologies with physical infrastructure.
What is Transport Infratech?
Transport Infratech is the use of mobility technologies to help our built environment, and enable more convenient and sustainable outcomes.
What is Shared Mobility?
Shared Mobility is the shared use of a vehicle, bicycle, or other transportation modes. It is a transportation strategy that allows users to access transportation services on an as-needed basis.
Connecting people is the catalyst for change.
Doubting shared mobility in the play of Infratech?
Well according to PinsentMasons, 87% of investors say that transport will have the most significant impact on infrastructure technology, so let’s dive into why.
- Parking is a major problem shared mobility solves through carpooling, demand-responsive buses and simulated experiences
- The built environment wastes too much money and space on parking
- Sharing is vital to improving the utilisation of space
- By providing a platform solution that incentivises shared travel, organisations can spend less on unnecessary parking infrastructure
- By employing Infratech as a strategy, developers have a way to challenge the need to maintain current parking ratios, resulting in major savings when reducing podium or below ground car park construction
What impact does Transport Infratech have on sustainability?
Glad you asked—and it is pretty simple.
There is a C.A.S.E. for this! Connected, Autonomous, Shared and Electrified.
More people that share vehicles, and take different modes of transport e.g bikes, buses, will equal less CO2 emissions. This has a roll-on effect of less damage done to our roads, and more people connecting to alternative modes of transport.
Let’s take a look at this actually in play, take Lendlease for example. In Lendlease Randwick Campus Redevelopment Integrated Acute Services Building (IASB) Addition Report. Lendlease, as of June 2019, became a carbon-neutral company, and this had a big play with Infratech.
Lendlease engaged Arup, to develop a transport strategy because of the work conducted in the Randwick Campus Development. Details like implementing measures to minimise the impact on general traffic and bus operations.
This was because roads would be closed, traffic and parking would be highly congested.
In the report, it was stated “an opportunity to reduce private car dependence via improvements to public transport and appropriate travel demand measures... ...campus initiatives to more effectively utilise existing car parking assets as well as grow staff carpooling, walking and cycling.”
Developers are starting to place value in implementing green initiatives and transport strategies.
Like Lendlease, implementing green initiatives and transport demand management strategies are of high importance to developers.
Common outcomes are reducing their footprint and the costs associated with parking during and post-construction.
The New Strategy for Organisations
How does Liftango plan to shape the future of our built environment?
Car parking is only a small subsection of the built environment. Yet, it amasses a staggering cost of approximately $930-2800 per m2.
Implementing a transport strategy can be stressful and complex - reducing vehicle dependence not only supports sustainable outcomes but can help to reduce our costly reliance on parking.
When you start looking into the world of shared mobility, it’s easy to see where real-world savings can be realised.
- Simulations - One of the biggest risks in implementing a solution is overcompensation and wasting resources. Simulating every possible outcome from available data, helps you make data-driven decisions, and create tailored solutions that fit local challenges.
- Carpooling - having a carpooling program, does not guarantee people will carpool. And this can invalidate one's transport strategy. Today’s modern-day driver won’t carpool unless it is made easy for them. By designing a solution around a compelling user experience you take the hassle out of successfully launching your carpool program.
- On-Demand Buses - Our technology is designed to suit public transport agencies or private shuttles. By providing more convenient and affordable alternatives, cities can unlock their grid-locked parking, provide better access and give commuters more sustainable travel options.
- Smart Parking Solutions- Imagine charging for parking based on the number of people sharing a vehicle? This incentivises better use of existing parking assets and avoids unnecessary costs.
We provide a platform suite of services to support any transport strategy. This helps in many ways. It mitigates future risk, improving the efficiency of surrounding infrastructure and implements tactics for corporations to improve accessibility to their sites.
RealTechX is an innovative program that supports emerging technology businesses in the real estate sector, and the wider built environment to achieve sustained growth.
The program participants will work alongside Taronga Ventures and RealTechX.
Program partners, including some of the biggest names in the real estate sector. Both locally and worldwide. Developing and delivering solutions to current and future problems the industry has.
RealTechX supports late-stage growth businesses that have a track record of successful implementation. Those that are positioned to have an immediate impact on the real estate sector.
Taronga Ventures are proving their commitment through capital investment in each of the program participants.
The 12 selected came from a pool of 182 applications across the globe.
A new way to build
We see Infratech as a path to sustainable change. The cost of infrastructure is starting to outweigh the benefits they provide. And we see growth programs like RealTechX as instrumental in reshaping how we think about our built environment.
It's our way to help organisations, cities and developers to explore new and efficient ways to improve productivity.