Automated Bicycle Parking

Is this automated parking idea a good option for NYC?

Certainly bicycle security is an issue in New York City and maybe underground secured parking can help to encourage more people across to bicycle commuting world. By numerous bike shops in New York City I have been warned against locking my bicycle on the street, particularly if it is a good bike. If people are to commute regularly, it would make sense that they would invest in a quality bike and accessories, but doing so increases the risk of theft.

I believe the innovative system could be designed to go up rather than down (where the depth is not available) or possibly developed into existing basement infrastructure. Other cities have introduced requirements for large office buildings to make available bicycle facilities (including showers, lockers and secure storage), such requirements should be the norm in a city such as New York City where large commercial building are the norm.