Parking reform drives down the cost of rent: the results speak for themselves.
New research from the Rutgers Center for Real Estate shows that renters in New Jersey could save more than $1,000 on their rent payments each year if the city brought parking requirements in line with the number of cars residents actually own. Other studies confirm this trend. "The Organization for Parking Reform says other studies have shown that eliminating all parking requirements could reduce rents and mortgages by $200 to $500 per month, depending on how and where those spaces are arranged." Restricting parking would also reduce the amount of impervious surfaces that prevent normal rainwater runoff and reduce the city's 'island''heat'.
This research is important because parking requirements are often a contentious issue for local politicians. As Wilson points out, "This certainly does not mean that relaxing minimum parking requirements will be politically easy.
FULL ARTICLE:
How even small reductions in parking can lower rents.
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The White House is sending an important cabinet member in charge of the U.S. Forest Service to the San Gabriel Valley east of Los Angeles to hear public comments on the proposed expansion of the San Gabriel Mountains National Park. November 6 - Los Angeles Daily News.
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