There is no such thing as a free lunch, and there is no such thing as free parking. Providing parking requires land, and land requires revenue to pay for its rent. Basic economic theory would have developers providing parking up to the point where revenue raised by last the car park equals the value of the next best land use alternative.
Minimum Parking Requirements (MPRs), by definition, force developers to provide parking above this economically efficient level, which raises development costs, subsidizes private automobile transport over other modes such as walking, cycling and public transport, and provides incentives to develop at low densities, encouraging sprawl.
MPRs distort economic decisionmaking because they do not allow consumers or producers of parking to avoid the costs of parking by providing or consuming less. MPRs inhibit free and informed choice, and they exacerbate social/cultural inequities by redistributing wealth across transport demographics.
Wednesday, November 18, 2009
Parking Minimums = Asphalt Island
Posted by firstname.lastname@example.org at 5:00 AM
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Read The High Cost of Free Parking by Don Shoup! As a bicyclist, I totally agree-why should I help pay for parking for people who don't respect bicycles as vehicles and marginalize pedestrians, transit riders, and bicyclists?
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