Apartment Building Pays $100 a Month to Tenants Who Don't Use Parking

Miami developers the Melo Group are paying renters to give up parking spaces, even though they already built the garage.

1 minute read

August 18, 2018, 5:00 AM PDT

By Casey Brazeal @northandclark

A Miami apartment building pays residents $100 a month if they don't park in the building's lot. "Across the U.S., cities enforce minimum parking requirements–laws that require new buildings to include a specific number of parking spaces, depending on the type of building," Ellie Anzilotti writes for Fast Company.

Miami is no exception, and that causes issues when space is at a premium and some would prefer to live in neighborhoods that aren't spread out by parking structures. "With cities like Miami already strapped for adequate housing, mandating developers to build spacious garages is fairly ludicrous, especially because further constricting available space for housing raises rents," Anzilotti writes.

Square Station a 34-story apartment building had to build a parking lot to conform to zoning codes, but to make a statement the developers (the Melo Group) are paying tenants not to use it. The building is right next to the city's light rail, and would seem to fit a non-driving lifestyle. Relaxing parking requirements is not just a politics for the group, building parking is a significant cost that they'd like to have the flexibility to offer or not. In the meantime, it's a nice pay day for walkers, bikers, and light rail riders.

Thursday, August 9, 2018 in Fast Company

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