Multifamily Developers Try to Solve the Parking Challenge
If developers build too much parking, the empty spaces may be difficult to repurpose for any other use.
Multifamily developers are fighting for the right to build fewer parking spaces at new apartment properties in downtown areas.
“There is a growing awareness among housing officials that the required parking ratios are out of whack with reality,” says Douglas Bibby, president of the National Multifamily Housing Council (NMHC), an industry organization.
People still depend on cars to get around in most of the United States. Two-car garages are likely to be standard for many single-family homes for years to come. However, people use fewer parking spaces if they live in places with shops and amenities within easy walking distance and many transit options for longer trips.
Source: Multifamily Developers Try to Solve the Parking Challenge