Bigger Isn’t Better: Lasting Effects of Too Much Parking
There are as many as six parking spaces for every car, meaning that our national parking stock is never more than 17% occupied. In a typical year, the U.S. builds more three-car garages than one-bedroom apartments. Based on typical affordable housing development costs, one parking space per unit typically increases moderate-priced housing costs by approximately 12%, and two parking spaces increases lower-priced housing costs by 25%. This panel will explore the state of parking in the U.S., and the lasting effects outdated regulations have had on our cities.
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