NEW YORK — A new report is calling on New York City to dramatically expand metered parking across commercial corridors, a move that could bring in as much as $1.3 billion in additional annual revenue, according to coverage by the New York Post.

The study, released by the Center for an Urban Future, argues that the city is underutilizing curb space. While New York has millions of on-street parking spots, only a small percentage are currently metered. Expanding metered zones and introducing more dynamic pricing during peak hours could both increase revenue and reduce congestion caused by drivers searching for open spaces, the group said.

Mayor Zohran Mamdani indicated his administration is open to reviewing parking policies. A City Hall representative said curb space has become more competitive in recent years due to delivery growth, bike infrastructure and outdoor dining setups, adding that reforms may be needed to better manage street use.

However, as reported by the Post, some residents and business owners in neighborhoods such as Bedford-Stuyvesant voiced strong opposition. Critics argue that adding more meters would place additional financial strain on working-class communities and discourage customers from visiting local shops.

The report also recommends revisiting variable or peak pricing — a strategy previously tested during the administration of former Mayor Michael Bloomberg, though it was later discontinued.

Metered parking rates currently vary by neighborhood, with the highest fees concentrated in Manhattan’s busiest business districts and lower rates in outer-borough commercial areas.

City officials have not announced any formal proposal, and further analysis would be required before changes are implemented.