Is The U.S. Ready to Choose Affordable Housing Over Mandatory Parking?
The cost of rent or the sale price of a new home is the combination of all the costs to build... including the land, the construction materials, permits and fees, and salaries for people working in or on the building. Parking is one of those costs, and requirements to build parking increases the costs of homes. The Institute for Transportation and Development Policy discusses the how more and more cities are starting to recognize the relationship between mandatory off-street parking and more expensive housing.
“This movement has been spurred by the negative impact mandatory parking requirements have on affordable housing. Building often unnecessary parking is often a major developer expense, resulting in fewer residential units built, or increased rent while adding to congestion, climate change, and health problems, not to mention underutilized and valuable space.”