By Mike Koetting May 23, 2023
Most of the concern about automobiles in America centers on their carbon emissions. Today’s blog, however, focuses on a different aspect of the impact of America’s car culture–how parking spaces can become a bad use of society’s resources. It also reminds us that the fabric of our lives is shaped by an invisible, even if in plain sight, network of rules and laws that we rarely think about but that we could change.
Central Cities
I got started thinking about this issue after reading a blog by the son of a friend on the impact of laws in Chicago creating minimums for the number of parking places required as part of construction. (As a complete aside, I note there is something simultaneously disquieting and reassuring when you start seeing cogent articles from people you knew as a baby.) He argued that mandating parking space minimums imposes a meaningful drag on the real estate markets because, in many circumstances, it is leading to more spaces than necessary. Excess spaces drive up construction costs which increase rents in order to cover the excess spaces. Research in Chicago shows that in the central city, about one-third of all parking spaces in large residential buildings are empty at 4 AM, the expected point of maximum use. This is consistent with the excess rate found in several other cities. These excess spaces are estimated to add 17% to the rental costs in these buildings.

