In a city where owning a car can be an expensive burden, off-street parking spaces are still highly desired commodities.
Parking in New York City is costly and difficult to come by, writes Ronnie Koenig. "But for some New Yorkers, an unused space in a parking garage or an extra spot in the driveway is a valuable piece of real estate and an easy way to earn extra income."
While ride sharing has decreased the demand for parking throughout the city, dedicated, off-street parking spots are still sought-after amenities.
Parking spaces come with hefty price tags—an average of $280,000 by one estimate. But property owners not using their spaces can rent them out to tenants and neighbors, and residents are more than willing to pay the rental fees, says Koenig:
Trish Martin has rented a spot in a garage around the corner from her home in Park Slope, Brooklyn for nearly 30 years and she doesn’t regret a penny of the money she has spent on it. "When my kids were young, I would drive into Manhattan with them for hockey practice and then back to Brooklyn. Parking was miserable — I’d be driving in circles for 45 minutes and I’d feel like crying," she recalled. "I thought: There’s got to be a better way."
People who own or rent spots say it is money well spent, saving them time and the hassle of dealing with dents and other risks that come from parking on city streets. "Those who are willing to pay for a parking spot argue that having a private spot can be life-changing," adds Koenig.
FULL STORY: Parking So Prime, the Car Is Optional
One Pandemic Real Estate Bet: Condos for Cars
The possibility of many more urban dwellers driving than ever before, even in transit-rich locations like New York City, is still very real.
What Happens If Parking Structures Become Obsolete?
An architect makes the case for future-proofing new parking garages so they can easily shift to other uses in a future with fewer cars.
New York Parking Pilot Favors Car Share
New York is the latest city that will prioritize shared uses when it divvies up public parking spaces.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Congressman Proposes Bill to Rename DC Metro “Trump Train”
The Make Autorail Great Again Act would withhold federal funding to the system until the Washington Metropolitan Area Transit Authority (WMATA), rebrands as the Washington Metropolitan Authority for Greater Access (WMAGA).
The Simple Legislative Tool Transforming Vacant Downtowns
In California, Michigan and Georgia, an easy win is bringing dollars — and delight — back to city centers.
The States Losing Rural Delivery Rooms at an Alarming Pace
In some states, as few as 9% of rural hospitals still deliver babies. As a result, rising pre-term births, no adequate pre-term care and harrowing close calls are a growing reality.
The Small South Asian Republic Going all in on EVs
Thanks to one simple policy change less than five years ago, 65% of new cars in this Himalayan country are now electric.
DC Backpedals on Bike Lane Protection, Swaps Barriers for Paint
Citing aesthetic concerns, the city is removing the concrete barriers and flexposts that once separated Arizona Avenue cyclists from motor vehicles.
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.
Smith Gee Studio
City of Charlotte
City of Camden Redevelopment Agency
City of Astoria
Transportation Research & Education Center (TREC) at Portland State University
US High Speed Rail Association
City of Camden Redevelopment Agency
Municipality of Princeton (NJ)