Surrey Now-Leader highlights Urban Racks’ pivotal role in promoting cycling as a mainstream mode of transportation in Metro Vancouver. Managing Director Kosta ChatziSpiros emphasizes the economic and spatial benefits of cycling, noting that annual bike maintenance costs range from $300 to $800, significantly lower than the $9,000 average for car upkeep. Furthermore, a single car parking stall can accommodate 10 to 24 bicycles, presenting a compelling case for developers and city planners to reconsider traditional parking infrastructure.
Since its founding in 2008, Urban Racks has achieved annual profits between $1 million and $5 million, reflecting the growing demand for sustainable transportation solutions. The company’s innovative approach to bike parking is influencing property owners, architects, and developers to integrate cycling infrastructure into urban developments, aligning with broader environmental and economic goals.
