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The High Cost of Residential Parking: Every time a new building includes space for cars, it passes those costs on to tenants: “Seattle’s smart new plan to give tenants transit passes instead of parking spaces should help housing stay more affordable down the line”(r/SeattleWA)
> This doesn’t work. If this worked, we would already see a huge shift.
Yeah, because parking prices aren’t high enough. There is a very interesting pilot project in San Francisco called SFPark. They aimed to get the appropriate price for parking by adjusting the price on a block by block basis so on average no more than 80% of the spaces were occupied.
During the course of the pilot it was pretty effective, average street traffic speeds went up, congestion was reduced, and people were able to find parking. Prices ranged from $6.50 per hour to $0.25 per hour depending on the block.
A freakonomics podcast about the effect is available here (they have David Schoup on as well and talk about SFPark).
> the lower class has to park their cars somewhere too.
Sure, ideally third party garages would come in to provide places for people to park. Either that or people have to start giving up cars.
edit: Another important thing to note about SFPark is that the average price of parking decreased over what it was before. In most cases there was cheap parking available but it would require walking several additional blocks.