The cost of parking won't be passed down to residents at a newly approved multi-family residential development in Charlotte.
The Charlotte City Council recently approved a rezoning that will allow the development of a parking-free residential development, in an effort to create affordable housing in the city, according to an article by Danielle Chemtob.
"The proposal, from developer Grubb Properties, calls for up to 104 multifamily units, and a total of six parking spaces," reports Chemtob. Clay Grubb, CEO of Grubb Properties told city officials in a June hearing that the development would have paid $30,000 per parking spot, and will pass the $250 in monthly savings to the future renters of the units.
"Under the rezoning plan, half of the units would be priced for those earning up to 80% of the area median income, which is $66,800 for a family of of [sic] four," explains Chemtob.
The Charlotte Area Transit System is finalizing a bus route past the development, and the plan for the development includes a bus stop. The development will also include one bike rack for every bedroom in the new development, and a bicycle maintenance plan for residents.
Read the full story: Charlotte OKs car-free residential development in effort to reduce housing prices
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