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Repair or Replace? Top 3 Reasons to Replace Your Parking Lot Asphalt

With proper maintenance, parking lot asphalt that was professionally installed can last 20-30 years. But then, a business parking lot experiences heavy traffic and will most likely deteriorate faster than a residential driveway. Over time, you can expect it’ll lose its integrity due to wear and tear as a result of the traffic and the natural causes.

The decision whether to repair or replace your asphalt parking lot can be a hard one. You might need a professional asphalt contractor to assess the situation and advice accordingly.

When Asphalt Parking Lot Repairs Are Possible

In some cases, asphalt repair, for instance, patching, and resurfacing of the parking lot are sufficient to get your asphalt lot looking and functioning well. Patching fills the potholes or excavated areas. On the other hand, resurfacing requires installing a new asphalt over an existing one.

Such repairs will not only save your business a substantial amount of money but also extend the life of your parking lot.

Repairing your asphalt might be the right option if less than 25% of the asphalt needs repairs and the foundation is still in top shape. It might also be ideal to repair asphalt business parking lots if they’re less than 20 years old and have shallow cracks, smaller than a quarter inch wide.

3 Key Reasons to Replace Your Parking Lot Asphalt

Although asphalt is a robust parking lot option that will last many years if maintained properly, it wears down over time. Here are three reasons to replace your parking lot asphalt;

If It Has Widespread Cracks

Have you noticed severe cracks on the parking lot that are a couple of inches deep? Then your best option might be to replace the asphalt. Usually, gas, oil, de-icing soil and other substances will penetrate driveways and worsen the cracks. And during the winter, water will seep in through the cracks and expand once frozen.

It makes no economic sense to seal the cracks only to repair again after a couple of months. You might end up sinking in more money, in the long-run, than you would if you installed a new parking lot.

Parking Lot Asphalt Approaching or More than 20 Years

Asphalt has a lifespan of 15–20 years. So if your parking lot asphalt is approaching or past its prime time, then it might be ideal to replace it.

The chances are that you’re dealing with large cracks, potholes, draining issues and such problems. It’s perfectly normal for these problems to arise after many years of exposure to UV rays, harsh weather, heavy traffic, harmful chemicals, among others.

25%-35% of Total Surface Area Requires Removal

There’s no denying that asphalt repair is the less expensive option. But it reaches a point where such repairs won’t provide lasting help especially if there exist foundation and structural issues.

So if more 25%-35% of total area needs removal following considerable damage, then you might need to take a pause. In such cases, the cost of asphalt repair might exceed the cost of installing new asphalt.

The Bottom Line

Sure, regular maintenance of asphalt will prolong the lifespan of business parking lots. However, wears and tears are inevitable. While repairs may appear less costly for your business, it reaches a point where asphalt replacement might be the economical option in the long-run.

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5 Reasons Why Your Business Should Install Asphalt Paths And Sidewalks

In business construction, there are a lot of things to consider. One of them is providing walkable access to the storefront. After all, there are numerous benefits to doing so. Here are 5 reasons why your business should install asphalt paths and sidewalks.

It Increases Security

Security is a vital concern for any business owner. After all, keeping employees and customers safe is important. So is safeguarding your business against a break-in and theft or vandalism. A common security measure for businesses is to use a security camera. However, these aren’t always successful. The low quality of the picture that most commonly-used cameras produce renders the devices ineffective as evidence. Plus, they don’t really deter criminal activity.

On the other hand, pathways in front of a business bring eyes to the street. You can easily see people approaching, so can your neighbors. Knowing they’re being watched is a proven deterrent for would-be criminals. Plus, these features have been shown to instill a sense of community and to decrease littering and speeding.

It Helps the Local Economy

When you add walkable access to your business, it often creates a domino effect with your neighboring businesses following suit. When that happens, your commercial neighborhood becomes more walkable and boosts the number of patrons to your businesses. Studies indicate that pedestrians spend at least 65 percent more than those who drive. Such projects boosted retail sales in Brooklyn 172% and infused more than $1 billion into local Portland, Oregon businesses.

Along with that comes an increase in employment in the area. Researchers found that when a commercial neighborhood was redesigned to be pedestrian-friendly, employment spiked to 300%. It’s a sound investment with businesses installing asphalt pathways or sidewalks received an average return of $11.80 for every $1 they invested in such projects.

It Stimulates Tourism

Tourists enjoy experiencing an area they visit by walking it. When they do so, they more easily visit businesses that are easily accessed by walkways. The benefit is that it creates an impression that will have them coming back and recommending visits to friends and family. Studies show that walkable commercial neighborhoods can increase tourism by as much as 300%. So it makes good sense for businesses to get in on this benefit when they add walkable accessibility to their front doors.

It Stimulates Additional Investment

When municipal governments notice the benefits of having businesses accessible by walkways, they often invest additional improvements to the area, such as parks and seating areas.

They also begin attracting additional private investment in the neighborhood. That’s a really good thing because neighborhoods with walkways have much fewer empty storefronts. A good example of this is New York City’s expansion of walkable space in Union Square, which decreased storefront vacancies by 49%.

It Boosts Property Values

When a neighborhood becomes more walkable and safe, a final benefit is that its property value increases. For home values, that can spike as much as $82 a square foot, which increases the equity of those homes.
For landlords, that often translates to being able to charge $300 per month more for rent. With that comes renters better able to afford to pay higher rent.