What will people really pay for parking? This study measures the value of garages or dedicated spaces to properties on the market in Philadelphia.
In a study, Kevin Gillen looks at how much Philadelphia residents value parking. Jake Blumgart writes, "Gillen took house and condo sales across Philadelphia and compared the prices of units that come with garages or other forms of parking and those without. [...] Gillen found that the average difference between a home or condo with a parking space and one without is between $18,000 and $28,000."
"Gillen found a parking space within a mile of City Hall adds around $60,000 to its value (8 percent for houses, 14 percent for condos)."
Of mandatory parking minimums, Gillen warns that "Forcing developers to build more parking spaces when they build housing could put the brakes on new units, especially those that are more affordable for middle-to-working class people."
Amid a healthy market for development, Philadelphia is experiencing its share of controversy over parking. Says Gillen, "The logical response is that if people are placing an actual dollar value on something, but they are getting it for free, then you should charge them for it. [...] We should be charging in the neighborhoods where demand exceeds supply of free on-street parking. How politically possible or palatable is that? I imagine it would meet with enormous resistance."
Phase 1 Revealed for $20 Billion Chicago Megaproject
Plans for One Central, a proposed megadevelopment that would add 22.3 million square feet of buildings to the city of Chicago, are taking shape.
Boston Introduces 'Maximum Parking Ratios' for Large Buildings
Large buildings with uses of all kinds will be subject to Boston's new "Maximum Parking Ratios."
5 Tips for Planning Safe Post-Pandemic Events
As community events start move off-screen and become available to the public again, here are five ways organizers can ensure public health and safety.
HUD's Office of Policy Development and Research
Rowan University's Department of Geography, Planning, & Sustainability
City Of Oakland
Hillsborough County Public Schools
City of Raleigh
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.