What will people really pay for parking? This study measures the value of garages or dedicated spaces to properties on the market in Philadelphia.
In a study, Kevin Gillen looks at how much Philadelphia residents value parking. Jake Blumgart writes, "Gillen took house and condo sales across Philadelphia and compared the prices of units that come with garages or other forms of parking and those without. [...] Gillen found that the average difference between a home or condo with a parking space and one without is between $18,000 and $28,000."
"Gillen found a parking space within a mile of City Hall adds around $60,000 to its value (8 percent for houses, 14 percent for condos)."
Of mandatory parking minimums, Gillen warns that "Forcing developers to build more parking spaces when they build housing could put the brakes on new units, especially those that are more affordable for middle-to-working class people."
Amid a healthy market for development, Philadelphia is experiencing its share of controversy over parking. Says Gillen, "The logical response is that if people are placing an actual dollar value on something, but they are getting it for free, then you should charge them for it. [...] We should be charging in the neighborhoods where demand exceeds supply of free on-street parking. How politically possible or palatable is that? I imagine it would meet with enormous resistance."
The N.Y.C. Free Parking Giveaway Needs to Stop
Free street parking in much of New York City means lost revenue, but it also affects the urban landscape and the quality of people’s lives. So how much is all that street space really worth?
Showdown in Seattle: Should Developers Forgo Parking?
A mixed-use project in Seattle's Phinney Ridge neighborhood has become a flashpoint in the ongoing debate over parking. Activists are fighting rules that let developers omit parking in areas with a certain level of transit service.
A Parking Success Story in Philadelphia
It's much easier to talk the parking talk than to walk the parking walk. Philadelphia, however, is showing how to actually replace overabundant parking with walkable housing developments.
Study: Maui’s Plan to Convert Vacation Rentals to Long-Term Housing Could Cause Nearly $1 Billion Economic Loss
The plan would reduce visitor accommodation by 25,% resulting in 1,900 jobs lost.
North Texas Transit Leaders Tout Benefits of TOD for Growing Region
At a summit focused on transit-oriented development, policymakers discussed how North Texas’ expanded light rail system can serve as a tool for economic growth.
Why Should We Subsidize Public Transportation?
Many public transit agencies face financial stress due to rising costs, declining fare revenue, and declining subsidies. Transit advocates must provide a strong business case for increasing public transit funding.
How to Make US Trains Faster
Changes to boarding platforms and a switch to electric trains could improve U.S. passenger rail service without the added cost of high-speed rail.
Columbia’s Revitalized ‘Loop’ Is a Hub for Local Entrepreneurs
A focus on small businesses is helping a commercial corridor in Columbia, Missouri thrive.
Invasive Insect Threatens Minnesota’s Ash Forests
The Emerald Ash Borer is a rapidly spreading invasive pest threatening Minnesota’s ash trees, and homeowners are encouraged to plant diverse replacement species, avoid moving ash firewood, and monitor for signs of infestation.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
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