More cities are loosening parking requirements for new developments, but there is no single formula for reducing parking that will work for every community.
Often, the first step is to regulate street parking for residents facing reduced in-building parking, according to representatives from Walker Consultants. Parking pricing and time restrictions make existing parking space more efficient and ensure that on-street parking spaces are available for visitors and customers.
Another effective strategy is to employ a shared parking model by activating unused office or apartment parking at times of the day when the spaces are typically empty. This cost-effective approach increases the capacity of each parking space. This also opens more land for other uses and reduces overall development costs.
Instituting paid parking via meters can fund transportation projects such as bike lanes that can reduce reliance on cars. Although some cities have used these policies to eliminate parking requirements on some new developments, most communities and developers will want to maintain some parking requirements for now, given that most Americans still rely upon cars for transportation.