Developer: I've Walked Away From Projects Because of Parking Minimums

Why is it so hard to build in New York City? Why are rents so expensive? It's partly because parking requirement are so onerous that developers are doing everything they can to avoid them, writes Noah Kazis.

Kazis talks with Alan Bell, a developer whose company has developed thousands of affordable units in New York. But, he says, he could have built a lot more if it hadn't been for parking minimums:

"Without the ability to claim an exemption from parking minimums, the economics of the development didn't add up. 'If you have a modest size building, it's really prohibitive,' said Bell. In addition to the direct costs of building structured parking, which Bell said can range from $25,000 to $50,000 per space, making room for the parking can also reduce revenues. 'If you're up against other buildings on both sides, you're going to have to reduce your perimeter retail frontage because you need an entrance for a garage.'"

Bell reveals a few tricks he's used to evade the parking minimums.

Thanks to Noah Kazis

Full Story: Developer: I've Walked Away From Projects Because of Parking Minimums


Prepare for the AICP* Exam

Join the thousands of students who have utilized the Planetizen AICP* Exam Preparation Class to prepare for the American Planning Association's AICP* exam.
Starting at $245
Book cover of the Guide to Graduate Planning Programs 4th Edition

Thinking about Grad School?

The Planetizen Guide to Graduate Urban Planning Programs is the only comprehensive ranking and listing of graduate urban planning programs available.
Starting at $24.95
Wood necklace with city map

City Necklaces

These sweet pendants are engraved on a cedar charm with a mini map of selected cities. The perfect gift for friends and family or yourself!
Book cover of Insider's Guide to Careers in Urban Planning

So you want to be a planner...

Check out our behind the scenes look at 25 careers in the Urban Planning field
Starting at $14.95