Miami’s Parking Deregulation Will Reduce Housing Costs

[Originally published by Forbes]

 

One of the great thought experiments in modern urban planning is to consider just how much cheaper life would be if the government didn’t enforce minimum parking requirements. Academics like UCLA professor Donald Shoup, for example, have noted that these mandates raise construction costs for housing, retail and office space, especially in dense cities, where building parking is both more expensive and less necessary. For this reason, several cities have deregulated at least certain aspects of their parking codes. Miami has done this for much of its new housing stock, and appears to be reaping the benefits through cheaper and more abundant units…[read the rest at Forbes]