Strong Towns has called a good amount of attention to the mandatory parking requirements in many cities (and shockingly, many downtowns). Thankfully, it seems a fair number of cities are removing such restrictions, but hopefully it becomes more widespread. In general I hope the US can urbanize, the older I get the more I realize it’s not really enjoyable living in this country. I don’t think I want hyper dense, but h…
It should decrease housing costs as well. The rules in my area are two spots per bedroom - mandatory. But my building is in uptown Dallas and the main draw to the area is that people work in the area and walk to work. So many people don't own cars or are only a one home house hold. And because it's a highrise parking spots are expensive. Like $50k+ each. And that goes directly to the price of housing in rents. Meanwh…
Unfortunately, that sounds like the spaces are close to being properly priced in the market?
Getting more utilization would require the price come down, and the price decrease may not increase the overall revenue immediately.
You would need cheaper nearby parking in order to force the price down. If there is no cheaper parking nearby, then the market is at the clearing price.