New apartment developments are popping up in cities like Boston, Seattle, and Miami without one key feature: on-site parking. These projects prove that providing parking isn't necessary to lure residents, even in cities not named New York.
Angie Schmitt looks at some of the recent projects in Seattle, Miami, and Boston that demonstrate the viability, and increasing attraction, of parking-free housing. The types of projects taking advantage of relaxed zoning regulations aren't monolithic either.
In Seattle, Blueprint Capital has been able to take advantage of lower construction costs to build more affordable housing. The company's "California Avenue development, for instance, is targeted at people making 60 percent of area median income, or about $15 per hour," says Schmitt.
"Parking-free housing is attracting buyers at the upper end of the spectrum too," she adds. "Luxury apartments and condos are now appearing in cities like Miami and Portland without any car parking."
FULL STORY: Real Estate Trend: Parking-Free Apartment Buildings
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