Cities in the South and Southwest have eased zoning rules with parking space mandates in recent years to allow developers to build new housing with less parking.
Building large-scale residential developments that reduce or eliminate parking yields walkable neighborhoods that appeal to a significantly sized cohort of renters, according to a report byĀ Bloomberg. Not having to build parking structures greatly reduces the cost of such projects. An estimate of the median cost of a parking structure in the U.S. in 2021 was $25,700 per space.
Some developers say they have passed the cost savings on to renters. One toldĀ BloombergĀ that they are offering apartments at $100 to $200 below the cost of comparable units offered by competitors.
New transportation options like ride-hailing services and electric bikes and e-scooters along with citiesā embrace of paths and bike lanes have made car-free living more feasible even in cities designed with widespread car ownership in mind. Higher sticker prices on cars and the high cost of car ownership generally have also steered renters away from automobile ownership.
Grubb Properties has noted a marked decline in car usage among their renters. In its Link sub-brand of multifamily projects launched in 2013, the number of car spots utilized per bedroom has dropped from 1.4 to 0.7 over the last 10 years.
Related Stories
MFPRO+ News | Dec 22, 2023
Document offers guidance on heat pump deployment for multifamily housing
ICAST (International Center for Appropriate and Sustainable Technology) has released a resource guide to help multifamily owners and managers, policymakers, utilities, energy efficiency program implementers, and others advance the deployment of VHE heat pump HVAC and water heaters in multifamily housing.
Giants 400 | Dec 20, 2023
Top 100 Apartment and Condominium Construction Firms for 2023
Clark Group, Suffolk Construction, Summit Contracting Group, and McShane Companies top BD+C's ranking of the nation's largest apartment building and condominium general contractors and construction management (CM) firms for 2023, as reported in Building Design+Construction's 2023 Giants 400 Report.
Giants 400 | Dec 20, 2023
Top 70 Apartment and Condominium Engineering Firms for 2023
Kimley-Horn, WSP, Tetra Tech, and Thornton Tomasetti head BD+C's ranking of the nation's largest apartment building and condominium engineering and engineering/architecture (EA) firms for 2023, as reported in Building Design+Construction's 2023 Giants 400 Report.
Giants 400 | Dec 20, 2023
Top 160 Apartment and Condominium Architecture Firms for 2023
Gensler, Humphreys and Partners, Solomon Cordwell Buenz, and AO top BD+C's ranking of the nation's largest apartment building and condominium architecture and architecture/engineering (AE) firms for 2023, as reported in Building Design+Construction's 2023 Giants 400 Report. Ā
Giants 400 | Dec 20, 2023
Top 40 Student Housing Construction Firms for 2023
Findorff, Juneau Construction, JE Dunn Construction, and Weitz Company top BD+C's ranking of the nation's largest student housing facility general contractors and construction management (CM) firms for 2023, as reported in Building Design+Construction's 2023 Giants 400 Report.
Giants 400 | Dec 20, 2023
Top 30 Student Housing Engineering Firms for 2023
Kimley-Horn, Wiss, Janney, Elstner Associates, KPFF Consulting Engineers, and Olsson head BD+C's ranking of the nation's largest student housing facility engineering and engineering/architecture (EA) firms for 2023, as reported in Building Design+Construction's 2023 Giants 400 Report.
Giants 400 | Dec 20, 2023
Top 90 Student Housing Architecture Firms for 2023
Niles Bolton Associates, Solomon Cordwell Buenz, BKV Group, and Humphreys and Partners Architects top BD+C's ranking of the nation's largest student housing facility architecture and architecture/engineering (AE) firms for 2023, as reported in Building Design+Construction's 2023 Giants 400 Report.
MFPRO+ News | Dec 18, 2023
Berkeley, Calif., raises building height limits in downtown area
Facing a severe housing shortage, the City of Berkeley, Calif., increased the height limits on residential buildings to 12 stories in the area close to the University of California campus.
Sponsored | Multifamily Housing | Dec 13, 2023
Mind the Gap
Incorporating temporary expansion joints on larger construction projects can help avoid serious consequences. Here's why and how.
Giants 400 | Dec 12, 2023
Top 35 Military Facility Construction Firms for 2023
Hensel Phelps, DPR Construction, Walsh Group, and Whiting-Turner top BD+C's ranking of the nation's largest military facility general contractors and construction management (CM) firms for 2023, as reported in Building Design+Construction's 2023 Giants 400 Report.Ā
